The great thing about an elected House of Lords is that arrogant Lipsey has been trying to persuade gullible journalists lately that an elected chamber would cost £2 billion to run. Typically for him he doesn't mention that would be over a 15 year term. Actually the annual running costs would be as little as £39 million. See HERE for the full story. If ever I have any doubts about an elected House of Lords, all I have to do is think of the Blairite appointee Lord Lipsey and my convictions return immediately. See HERE for more on Lord Lipsey.