Shadow home secretary Nick Thomas-Symonds says "the findings in the report are damning."
The Met Police has been accused of "institutional corruption" for concealing or denying failings over the unsolved murder.
The Metropolitan Police has said it "deeply regrets our failure" over the Daniel Morgan murder investigation.
In a statement released on Twitter the police force accepted corruption "was a major factor in the failure of the 1987 investigation".
The force said: "This compounded the pain suffered by Daniel's family and for this we apologise.
"We deeply regret that no-one has been convicted of Daniel's murder. We have not stopped pursuing justice."
The force said it will respond in "more detail" later today.