Peers 'could be limited' to serving 15 years in House of Lords

House of Lords - Image credit: PA Images

New peers could be limited to serving just 15 years in the House of Lords in a bid to slim down the upper chamber, according to a new report.

A committee tasked with proposing reforms will next month suggest the time limit as a way of reducing the cost of the House. 

The Lords has almost 800 members, making it the second largest legislative chamber in the world after the National People’s Congress of China.

Pressure has been mounting on the Government to cut it down and in December peers voted unanimously in favour of exploring options for reform.

Currently there is no retirement age or limit for peers to hold their position, but according to the Times the time-limit proposal will be revealed in the coming weeks.

The Committee will also call on the parties to cut their numbers in stages. There are currently 252 Tory peers, 199 Labour peers and 100 Lib Dems.

Last night, theatre supremo Andrew Lloyd Webber announced he would quit as a Tory peer citing difficulties in managing his work schedule.

The 69-year-old Cats composer said he had taken the decision with a “heavy heart”, but added: “What is expected from a member today is very different from what it was."

He has been a life peer since 1997 but has only voted 42 times.