What does the Speaker of the House of Lords wear to preside over the meeting?

For centuries, bags wrapped in red woolen cloth have been stuffed with wool, symbolizing British industry. Now the real wool bag has been put in the museum, but the tradition still exists. The speaker of the upper house wore a black cloak embroidered with gold thread and a white wig, and sat in a red soft chair without a backrest to preside over the meeting.