History
In 2003, following the decision to disaggregate the roles performed by the Lord Chancellor (originally to abolish the office altogether), a Select Committee of the House of Lords looked into the proposed new office of its presiding officer, including the title for the elected speaker of the Lords. Following their recommendations, the new speaker was named "Lord Speaker", and the number of deputy speakers has fallen from 25 to 12. "Lord Speaker" was chosen in part because it was already in use in the Standing Orders and the Companion.
Read more about this topic: Lord Speaker
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“History takes time.... History makes memory.”
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