ACT Leader David Seymour says the Public Interest Journalism Fund was silly policy.

Deputy Prime Minister Winton Peters yesterday accused media of being bribed by the previous Government's $55 million fund.

Today he asked reporters to tell the public what they had to sign up to, to get the money.

Seymour says he doesn't believe the media was distorted by the money.

"The idea that all the journalists in New Zealand were corrupted by 2 percent of revenue- for me, it doesn't pass the sniff test, but it certainly has created a widespread perception."