Time they were gonged off

Quote from the Sunday Times:

"In the past five years Labour’s financial backers who have been rewarded with peerages have shelled out an average of £2.6m. A knighthood is a snip at £748,000. By contrast, buying a peerage in the era of David Lloyd George, the Liberal prime minister from 1916-22, cost £50,000, while a knighthood was £15,000. Even taking inflation into account, Blair’s prices are higher."

Much to my chagrin I've never been able to afford a seat in the House of Lords, but don't forget PunchBuggy brought you this story five years ago in 2001. See PunchBuggy Passim.