However, Labour leader Ed Miliband is pressing for an independent probe.
He said the row involved "very disturbing revelations about the way that access was sought, the way that access was bought or apparently at least offered, and that's why we need a proper investigation into what happened".
Rupert Murdoch, the owner of the Sunday Times whose frequent meetings with successive British prime ministers have also come under scrutiny, weighed in on Twitter, backing an independent probe and asking: "What was Cameron thinking?"
The issue of lobbying and party funding has long been a concern in Britain, but the timing of the latest row is particularly damaging for the Conservatives as they fight off claims of pandering to the rich in last week's budget.
Finance Minister George Osborne, a Conservative in the coalition government with the Liberal Democrats, cut the top rate of income tax on Wednesday, a highly controversial move given the government's program of spending cuts intended to reduce the deficit.
Questions:
1. Who is the Tory treasurer?
2. What did Labor Leader Ed Miliband press for?
3. Where did Rupert Murdoch weigh in to back an independent probe?
Answers:
1. Peter Cruddas.
2. An independent probe.
3. On Twitter.
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