The "higher house" serves as an important safeguard of public interest, clarifying laws passed by the Commons in a two house democratic structure. Interactive Democracy retains the two house system: The existing House of Commons and the Public Vote (or "pub").... the latter being less rowdy! PS: The photo shows the Three Lords Pub in London. ;-)
When the Labour Party came to power in 1997 it had a clear manifesto to reform The House of Lords. Click here for more on these reforms.