In a joint statement the five regulators said:

"We welcome publication of the draft Communications Bill and the move towards a modern and flexible regulatory framework for the converging communications sector.

"The communications industry will benefit from a more flexible approach to regulation, minimising regulatory burdens and providing consistency across all communications networks.

"As the new communications regulator, OFCOM will be critical to the success of the new framework. It needs to be a world-class regulator that combines the best of all five of the existing regulators.

OFCOM must be ready to start work as soon as powers and responsibilities are transferred to the new organisation.

"The five communications regulators are committed to ensuring a smooth transition to OFCOM, and work is already well advanced in order to achieve this.

"There now needs to be a wide-ranging debate on OFCOM's duties, governance and priorities involving industry, consumers and Government. This will ensure that the new framework will help create a dynamic communications industry for the 21st century."

The five regulators that will form OFCOM are the Broadcasting Standards Commission, the ITC, Oftel, the Radio Authority and the Radio communications Agency.