Ex-Northern Rock chair joins Lords

The 5th Viscount Ridley, chairman of Northern Rock when the bank collapsed in 2007, was yesterday elected to the House of Lords after an unusual by-election vote. There are 92 hereditary peers left in parliament’s upper chamber and when one dies – as Earl Ferrers did last year – a vote is held to replace them with another hereditary peer from the same party. Ridley topped the poll of 26 other Tory peers and can now influence legislation.

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