The Lords, with almost 800 members, is the second biggest legislative chamber in the world

New peerages will have a 15-year time limit under a plan to shrink the House of Lords, The Times has learnt.

The Lords has almost 800 members, making it the second largest legislative chamber in the world after the National People’s Congress of China, but pressure has grown on the government to reduce its size. There is no retirement age or limit on how long peers can serve.

The Lords committee tasked this year with cutting membership of the house will propose the time limits in its report this month. It will also call on the four large parts of the Lords — 252 Tory peers, 199 from Labour, 100 Lib Dems and 180 crossbenchers — to commit to cutting the size of their blocs