You must be mad, Big Al. Of course posh folk should make the laws! Who else will properly govern society and maintain normal standards of British decency and order if the rich do not take up the task of doing so?
The vital thing, however, is to see that the nouveau-riche do not hijack the process, as they have neither the breeding nor the cultural/familial background to match their recently found wealth. A person has to have inherited class and character through a long line of aristocratic forbears, it can't simply be purchased.