The 42nd session of Parliament begins today for what will be a short, one-week session before members leave for their holiday break.

Once MPs break, they won’t be back until late January, so the first order of business will be to elect a new Speaker. Here’s what’s expected during this one-week introduction to the session:

What does the Speaker do?

The Speaker of the House is essentially the referee of Parliament, ensuring respectful exchanges and setting the tone of parliamentary discourse, says Â鶹´«Ã½ political analyst Scott Reid.

They are also in charge of the parliamentary precinct, meaning all the buildings on Parliament Hill, and act as the parliament’s ambassador when foreign dignitaries visit the House of Commons.

“It’s a big job with a lot of responsibility,†Reid told CTV’s Canada AM Thursday.

Of course, the Speaker is rewarded for the extra duties. Besides ring-side seats to the goings-on in the Commons and the chance to meet and greet dignitaries, the Speaker also earns an additional $80,000 on top of the annual MP allowance, an apartment in the Commons chamber, a car and driver, and access to a country estate in Quebec’s Gatineau Hills.

What are the required qualifications?

Reid says the best person for the job has “command,†meaning they are respected and somewhat feared and can ensure that when they speak, MPs listen.

“When we’ve had bad speakers, it’s been pandemonium, they’ve lost control and they’ve had to eject four or five members,†Reid says. “So you want someone who can keep calm control over the House of Commons.â€

Who’s up for the job?

are vying for the position: Liberals Denis Paradis, Geoff Regan, Yasmin Ratansi, and Conservative Bruce Stanton.

Liberal MP Mauril Belanger was expected to also be a candidate, but withdrew from the race Monday after announcing he has ALS, or Lou Gehrig's disease.

Reid sees Regan and Paradis as the frontrunners. Regan has been an MP for close to 20 years, while Paradis also has years of experience and served in the cabinets of both Jean Chretien and Paul Martin.

How long will the vote take?

With a new election system in place, this vote will go a lot faster than previous ones, which often dragged on for seven hours or more.

The old system was known as an “exhaustive ballot,†and involved multiple rounds of voting, which could take all day. In June, MPs agreed to bring in a “preferential ballot†system.

Now, voters rank the candidates in order of preference in a secret ballot. The least popular candidate is eliminated from the bottom, and voters’ first-preference ballots are then redistributed to the second choice. This process repeats until one candidate achieves 50 per cent of the vote.

What will be the next order of business?

Gov. Gen. David Johnston will deliver Prime Minister Justin Trudeau government's first Throne Speech Friday.

Reid is expecting a strictly-business speech, explaining which of the new government’s promises will be acted upon first. And he says the first order of business will be tax cuts for middle-income earners.

“This parliamentary sitting exists almost strictly for one reason, and that’s tax cuts,†Reid said. “If he (Trudeau) wants those tax cuts to be in people’s pockets by Jan. 1, he’s got to do it in December.â€

of the important Liberal pledges that could be mentioned in the Throne Speech. Check back Friday afternoon as we track the mentions.

As well, the Liberals are expected to announce the creation of a non-partisan advisory body to recommend senator nominees. The aim is to end partisanship in the Senate so that new senators are chosen based on merit, rather than party affiliation.