The committee’s remit is to look into the ‘effects of political polling and digital media on politics’ and is due to report by 31 March 2018.

Questions it will address include: how did the polls perform in the 2017 general election; to what extent do political opinion polls accurately reflect public sentiment; how do methodologies impact on accuracy; and is the industry’s self-regulation fit for purpose?

Lord Lipsey said: "For the second time in a row the polls have got an election wrong. We will conduct a rigorous and dispassionate inquiry into their methodology and conduct. In July we will be publishing our call for evidence which will set out the priorities for the inquiry."

The Market Research Society (MRS) welcomed the creation of the committee and "its interest in understanding the complex issues that these rapidly evolving areas present."

In a statement it said: "The committee needs to consider fully and understand the context in which both political polling and digital media operate. This includes considering both those that commission and use digital media and political polling, as well as those who supply such services. We will provide evidence to the Committee in due course and look forward to supporting the process."