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Lord Saatchi introduced a debate in the Lords on a Private Members' Bill that amends the objectives of the Bank of England in relation to monetary policy.
Members of the Lords discussed the general principles and aims of the Bill during second reading.
Private Members' Bills can be introduced in the Lords by any Member who would like to change a law. There is no ballot in the Lords. To become law a Private Members' Bill must go through the same stages as a Government Bill.
Line by line examination of the Bill takes place during committee stage - a date for which is still to be scheduled.
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