The shock move was announced by Deputy Minister for Everything, Lord Mandelson, in an emotional Press conference at 0800 today.
Lord Mandelson said, "It is right that Parliament move with the times and with events, and it is right that we modernise as required. The anachronism of the Palace of Westminster no longer tallies with the impression of MPs within the British public. Therefore, we must regretfully close the Palace of Westminster and move the seat of Government to a location more fitting to the status and position of British Parliamentarians".
Mr Mandelson's announcement follows news that six Parliamentarians are facing prosecution for fraud following an investigation by Scotland Yard into MP's expenses.
A spokesman for the Speaker's office confirmed that as a result of the expected prosecutions, the functions of both the Commons and the Lords were to be consolidated into a new Parliament in C Wing of Wormwood Scrubs.