The launch of IPSO’s compulsory arbitration scheme means that anyone with a suitable claim can take legal action against the seven best-selling national daily newspapers and eight best-selling Sunday newspapers in the UK – and the publisher has no choice but to arbitrate, writes IPSO chief executive Matt Tee.

The scheme covers claims like libel, invasion of privacy, data protection and harassment and includes a higher level of damages, meaning claimants can now be awarded up to £60,000.

But will this open the floodgates to compensation claims which could put newspapers out of business?