Life Peerages Act 1958 Life Peerages Act 1958 The Life Peerages Act 1958 established the modern standards for the creation of life peers by the monarch of the United Kingdom. This Act was made during the Conservative governments of 1957–1964, when Harold Macmillan was Prime Minister. Elizabeth II had ascended to the throne just over five years before the Act. The Conservatives tried to introduce life peerages to modernise the House of Lords, give it more legitimacy, and respond to a decline in its numbers and attendance. The Labour Party opposed the Life Peerages Bill on Second Reading: Hugh Gaitskell made an impassioned speech
Malaysian economic policy under Prime Minister Najib services in Malaysia. The approval of these licenses is a sharp break from Malaysia's history of domestically dominated and tightly regulated markets for financial services. Under Najib, the Malaysian central bank has increasingly allowed the ringgit to appreciate and has plans to allow settlement and borrowing denominated in ringgit to be conducted offshore. Najib says that exporters will not be hurt by these actions. Prime Minister Najib has started to implement comprehensive reform of government subsidies. On 16 July 2010 subsidies for petrol, diesel and LPG were cut as part of Malaysia's general programme of reducing and rationalising subsidies per