 At the Liberal Democrat Spring Conference 2012, held at The Sage Gateshead, it was announced that Sir Ian had taken up the post of treasurer of the party, which he held until December 2015.It was announced that he would be elevated to the House of Lords in August 2013 and on 5 September 2013, he was created a life peer, as Baron Wrigglesworth, of Norton-on-Tees in the County of Durham.Until February 2012, Wrigglesworth was deputy chairman of the Government's Regional Growth Fund Advisory Panel, which is chaired by Lord Heseltine and appointed by the government to consider bids.