CHANGING POWERS
Initially, the monarch needed only the support of his earls,
barons, and senior clergy - the Lords - to raise funds. 
By the mid-14th century, however, money was being 
voted to the crown 'by the Commons with the advice of 
the Lords Spiritual and Temporal' - essentially the same 
formula still in use today. In 1407 Henry IV pledged that 
all money grants should be approved by the House of 
Commons before being considered by the Lords.

The Lords continued to exert legislative power (apart from taxation) for several centuries. This ended with the Liberal government's budget of 1909, which the Lords rejected - only to have their power to veto the Commons taken away by the Parliament Act in 1911. Today, the Lords' role is primarily advisory, though they do have significant power to delay
legislation.