British Parliament is a bicameral legislature i.e., it comprises of two Houses. The two houses of the British Parliament are the House of Lords (Upper House) and the House of Commons (Lower House). They work on behalf of the citizens of UK to make and shape effective laws for the betterment of the people of UK.
In U.K, the members of the House of Lords are appointed by the monarch on the advice of the Prime Minister (heads the government). The House of Lords is presided over by the Lord Speaker. Preside means to be in a position of authority during the meetings. The Lord Speaker is also an ambassador for the work of the House and plays an important role in the House of Lords. The Lord Speaker is expected to be politically impartial and be neutral with the ruling party as well as the opposition. The Woolsack is the seat of the Lord Speaker in the House of Lords which has very historic symbolism.
Previously it was Lord Chancellor who acted as the Speaker of the House of Lords and would sit on the Woolsack but under the Constitutional Reform Act 2005, the Lord Chancellor ceased to be the Speaker of the House of Lords and now we have the Lord Speaker who presides over the House of Lords and sits on the Woolsack.
Woolsack is a large square cushion stuffed with wool and having a covering of red cloth making this seat very unique and special. This seat is very symbolic and has a traditional value in the House of Lords. It is thought to reflect the economic importance of the wool trade in England as wool trade was one of the most significant aspects of England’s economy.