THE LORDS' POWERS
Although the power of the House of Lords was restricted 
by the Parliament Acts, it still exercises considerable 
influence on the progress of Public Bills through 
Parliament. This primarily takes the form of amendments 
to detail - which the Commons can either reject or accept. 
Disagreements are usually resolved through compromise. 
If the Lords does reject a bill outright, it can be re-presented 
by the Commons in the next session - and must pass into law. 

The Lords has no power to amend bills 'of aids and supplies' -
in other words, any bill relating to taxation, including the annual Finance Bill. They do, however, have absolute power to safeguard the constitution and the country by rejecting any bill which extends the 
life of a Parliament beyond five years.