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The Economic Affairs Committee is one of the six permanent investigative committees in the House of Lords and is charged with considering economic affairs.

The committee's main function is to examine matters within its remit with which Parliament ought to be concerned, and to report to the House of Lords with recommendations for government action. Each inquiry leads to a report, published together with the evidence on which it is based, setting out the committee's findings and making recommendations to the Government and others.

The committee is usually made up of thirteen members, appointed by the House for each Session of Parliament.