There was always going to be a tipping point. A moment when a cut back meant no newspaper — rather than just less subs. Or less court reporting. Truth is, a newspaper can’t survive without journalists. Now that serious redundancies are knocking at the door — of the regionals, for now — newspapers face a year of desperation.

In the past six months we’ve jumped from being a throw away society into a bail out society. It was only a matter of time until those over-used words started to get banded about with the newspaper industry in mind.

So should it happen?

Yes. It should.

Will it happen?

Perhaps.

That’s a scary ‘perhaps’, isn’t it? When you consider what’s at stake, you could be forgiven for getting more than jittery about our chances. Like all bail outs, it would take millions. And can we justify millions of taxpayers money to publications that do things like this? We may not miss the Daily Express, but I would resent any plan that chose certain newspapers over others. Every newspaper has a right to exist. While we could perhaps sell the benefits of having the likes of The Times bailed out and saved (not that I’m suggesting it’s in trouble), it would be nigh-on impossible to convince the masses that taxpayer’s money should be spent saving the Daily Star.

Because here’s the killer: If people wanted to save the Daily Star, they’d buy it. Same with every newspaper out there.

And think of the consequences. Suddenly all newspapers would face the same kind of scrutiny that the BBC comes under every day. If a newspaper publishes a story that people disagree with — the public would have more weight behind them knowing it was their cash spent saving it. Imagine The Sun and Hillsborough happening all over again?

A bail out is akin to a mother slipping a son a tenner a few weeks before pay day. It’s borrowed, yes, but probably won’t get paid back any time soon. But the son needed that money and things will pick up once pay day arrives, so not to worry.

Bailed out banks are — fingers crossed — waiting for that pay day. When the economy recovers, they’ll be able to go back to their lucrative money-making selves.

But can newspapers?  Probably not, no. Newspapers were in trouble well before the credit crunch took hold. There is no evidence to suggest it’ll be any better when all this mess is over. A newspaper bail out pot would not be bottomless and it would soon run out, leaving us right where we are now.

Polly Toynbee wrote about this in yesterday’s Guardian. Craig McGill has a decent dissection of her main points here. She’s sticking up for newspapers, as you’d expect, but with, as Craig agrees, blatent snobbery, she clouds her very good points. In Polly’s bail out, we save ‘quality’ papers like the Guardian, but ditch rubbishier ones like the Express. I’ll admit I’m not its biggest fan, but to steal a quote, I’ll defend its right to exist to the death.

My two pence? The newspaper industry needs help. It’s on life-support, and the only way it can be saved is by outside intervention. Journalists of old would spin in their graves knowing that the free press is reaching out to the government for a hand out, but it’s for the greater good.

But let’s not see that money wasted on newsprint.

Money should be spent on giving regional news outlets a proper online presence. It should be spent on equipment for local audio/video. It should be spent on allowing every regional newsroom to be right in the heart of the town it covers — not in some soulless newspaper factory in a big city. It should be spent on giving regionals better individual controls over their web output. It should be spent on making the coder and the graphics person as important to the news operation as the reporters, subs and editors. It should be spent on community managers, whose sole job is to reach out to readers in a way that goes far beyond a drab letters page.

A bail out is needed. But this is no bail out for newspapers — it’s a bail out for journalism.

We have to convince the British public that what they’ll be getting in return for their money will be noble and dignified. Like the bankers who will have learned the hard way for risky loans, the press needs to learn the hard way about bad journalism. Paparazzi garbage has no place in the bail out plan.

We need to become PR people. We have no excuse getting this wrong. Hell — we tell PRs how badly they’re doing their jobs all the time. Let’s show them how it’s done.

Without a powerful press, our country will suffer. But ask Joe Public whether they’ll miss newspapers and I think we all know that he wouldn’t. We need to stop making this argument about newspapers, and start making it about democracy and freedom. Only then will we win the psychological battle with the public mindset.

Good luck everyone.