Reform the House of Lords to eliminate cronyism. Adopt the Canadian Senate Model, limit the number of members, get rid of the dead wood and make it more efficient.
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The upper house is an important pressure valve one step removed from the day to day politics. However it has become bloated and corpulent and is in need of reform in terms of its composition and rules. I would propose adopting the Canadian upper house senate model with representatives serving a fixed 10 year tenure.