House of Lords reform? Most politicos are debating whether to elect senators or maintain the status-quo.

Not so the Kensington, Chelsea and Fulham Conservatives, who held an evening discussion about whether the Lords should return to the hereditary principle. Mr Steerpike hears that it was a popular motion.

Leading the charge was James Bethell, head of Westbourne Communications by day and 5th Baron Bethell by night. Lord Bethell stated that his great-grandfather bought his peerage for £10,000 in 1922. He said that the sum works out at over three million pounds in today’s money, which appears to be much more than the asking price for an elected seat.

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