This report from the House of Lords European Union Committee is an impact assessment of the Treaty of Lisbon and seeks to inform the House of the most important aspects of the Treaty by comparing provisions with the status quo and assessing their impact on the institutions of the EU, Members States, and on the UK.Divided into 12 chapters, with appendices, the report covers the following areas: foundations of the European Union (EU), where the Committee analyses the effects of the changes to the structure of EU treaties and the amendments made to the Union’s values and objectives; the simplified treaty revision and how this can alter significantly the provisions on the face of all European Treaties; the impact of the Treaty on European institutions and what changes this will make to the European Council, including a full-time European Council President; and the Lisbon Treaty gives the Charter of Fundamental Rights a legally binding status and whether the Charter’s rights will create ‘new’ rights in the UK and if the UK’s existing labour and social legislation will be effected.It also covers: the area of freedom, security and justice; how far the Treaty changes fundamental principles of foreign, defence and development policies; the impact of the Treaty on social affairs as well as finance and the internal markets; the impact on environment, agriculture and fisheries; and the new functions the Treaty gives national parliaments and the democratic challenge that poses. The report does not seek to compare the Lisbon Treaty with the now abandoned Constitutional Treaty or the process by which the Lisbon Treaty was produced. It also does not address the question of whether there should be a UK referendum on this Treaty; for the Committee, ratification of the Treaty is now a matter for Parliament.