Nick Clegg said in a press conference today: "I can confirm today that we do not intend to proceed with the Bill in this Parliament.
"To modernisers and campaigners let me say this, I am disappointed as you that we have delivered an elected lords this time round. But Lords reform has always been a case of two steps forward and one step back."
Nick Clegg says plans to reform the House of Lords will be abandoned after the coalition contract was "broken" by the Conservatives.
David Cameron may be set to abandon proposed reform to the House of Lords. The Liberal Democrats will be bitterly disappointed.