Bell was knighted in 1991 after nomination by Margaret Thatcher, and created a Life Peer after nomination as a Conservative working peer as Baron Bell "of Belgravia in the City of Westminster" on 31 July 1998. He was often later seen on panels and current affairs programmes discussing the issues of the day, and was chairman of the Conservative Party's "Keep the £ Campaign". He also served on various arts and public administration bodies. On 8 April 2013 it was Bell who officially announced the news of Lady Thatcher's death.