With only the 'Mirror' supporting him at the end, newspaper peerages will be thin on the ground, but there are those last-minute election contributions to pay back, and the price to be paid for Mandelson's squalid little deals. There's the Scots mafia to pay-off. Then there the lifelines to now-unemployable cronies such as Campbell (no. 347 on Amazon's list and in the remainder bins already).
No doubt the Sovereign will hold her nose and grant the recommended honours with alacrity - the more quickly done, the soonest forgotten. But the rest of us can have a well-deserved laugh.