Jim Wallace, the former leader of the Scottish Liberal Democrats and ex-deputy first minister, is to become a member of the House of Lords, Downing St announced yesterday.

When the ex-MSP for Orkney left the Scottish Parliament at the last Holyrood elections in May, it was expected that he would end up on the red benches.

Last night, Mr Wallace, 53, told The Herald: "I'm pleased and honoured by the decision. A variety of issues interest me, including climate change, the UK energy policy and the fundamental matter of balancing security and liberty. The Lords is a forum where these things can be properly debated."

He added: "Whilst I can honestly say that I have had very few regrets about leaving Westminster in 2001, I shall be glad to meet up again with old friends and colleagues who are now also in what Disraeli called the Elysian Fields."

Mr Wallace, a married father of two, declined to say what his title would be, noting that it was "still to be processed". He is expected to be ennobled some time in November alongside fellow new LibDem peer Sue Garden, an education consultant and welfare campaigner.

Sir Menzies Campbell, their party leader, commented: "These two additions to the House of Lords will bring experience, commitment and wisdom."