He announced his intention to quit in May at the height of the expenses scandal that is still engulfing MPs.
Lord Martin of Springburn, the name of the Glasgow constituency he represented from 1979 to 2005, was supported while he made his oath by two Labour peers, the former Lord Chancellor Lord Falconer of Thoroton and Lord Foulkes of Cumnock, who was one of his most vocal supporters when he was Speaker.
The former Labour MP will join his predecessor as Speaker, Baroness Boothroyd, on the crossbenches.
Although by tradition Speakers are elevated to the Lords, the decision to grant Lord Martin’s peerage proved controversial with some speculation the honour should be withheld.
When he was Speaker he was criticised for leading efforts to block the publication of MPs’ expenses and for his handling of the affair once the revelations began.
He was the first Commons Speaker to be forced to resign in 300 years.
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