Labour Peer Lord David Lipsey has been found dead after swimming in the River Wye, police have said.
Officers were called to the River Wye in Glasbury on Monday following concerns about the safety of a man who was last seen swimming in the river.
Dyfed Powys Police has now confirmed the body of Lord Lipsey was pulled from the river on Tuesday following a multi-agency search.
Lord Lipsey, who previously worked as a journalist and Downing Street adviser under then prime minister Jim Callaghan, entered the Lords in 1999. He is also credited with coining the phrases "New Labour" and "winter of discontent".
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A police spokesperson said: "Dyfed-Powys Police received a report concerning the safety of a man who was last seen swimming in the River Wye, Glasbury.
"Following a multi-agency search on July 1, sadly, we can confirm the body of Lord David Lipsey was recovered. His next of kin have been informed and our thoughts are with them at this difficult time. They have asked for their privacy to be respected."
The Lord Speaker said the upper chamber extended its "condolences to the noble Lord's family and friends".
Lord Lipsey, who was a fan of greyhound and harness racing, chaired the British Greyhound Racing Board and the British Harness Racing Club for a number of years.
The British Horseracing Authority said: "Lord Lipsey was a staunch supporter of British horseracing and formerly an APPG member. Our condolences to his family at this incredibly sad time."
Premier Greyhound Racing said it was "deeply saddened at the passing of Lord David Lipsey". In a statement, they said: "We were very luck to have David as Chair of Premier Greyhound Racing from our inception until his retirement this year. Throughout this time, we benefitted from his wisdom and guidance which he delivered with dedication, professionalism and no little humour."
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