David Cameron says:
"The usual procedure in these cases is to leave the punishment
to the House of Commons authorities, however, having asked the Chief Whip to speak
again to Mr Conway and having personally reflected overnight I have decided to
withdraw the Conservative Whip from Mr Conway."
This is the right action to take, and whilst it could have been taken yesterday Cameron has still been much more decisive on it than Brown was on Hain.
2.40pm: The Telegraph notes that Conway is likely to remain suspended permanently:
"Although the decision is technically a suspension rather than an
expulsion, senior Conservative sources said it was unlikely that Mr
Conway would ever return to the parliamentary party."