Why no Labour Grandees?

The articles on the expenses scandal always refer to "Tory Grandees"

Wikipedia says:

Grandee is a word used either to render in English the Iberic high aristocratic title Grande, used by the Spanish, Portuguese and Brazilian peerage, or by analogy to refer to other people of a somewhat comparable, exalted position, roughly synonymous with magnate, and in particular by analogy to a formal upper level of the nobility, such as peerage (especially if granted parliamentary seats). By extension the term can refer informally to any important person of high status, particularly a wealthy, landed long-time resident in an area.

So it looks as thogh you need a title and land to be a grandee. Is Tony Benn a lapsed grandee?