As the economic climate worsens, standards at newspapers are falling too, according to a new report, A More Accountable Press, the Financial Times reported Monday. According to the UK study, more than seven out of 10 people said they believe government intervention is necessary to protect citizens' privacy and to make newspapers correct errors.

The study, conducted by media experts working with the Media Standards' Trust, also blames an inadequate Press Complaints Commission that has been unable to uphold standards, for the erosion in public trust.

According to the FT, the study found that in the past five years trust in "upmarket" newspapers fell from 65 per cent to 43 per cent. The figures were 36 percent and 18 percent, respectively, for mid-market newspapers. In the past twenty years, newspaper regulations have not been streamlined to suit the prevailing economic landscape, the study stated.

Falling circulation and advertising sales have worsened the problem, the FT reported.

Suggestions for reform would be made by the panel later this year.