Former Tory Chancellor Nadhim Zahawi tipped to receive peerage

Nadhim Zahawi is tipped for a peerage in Rishi Sunak’s resignation honours list. 

The former Chancellor has been talked up as a contender for the House of Lords.

Other expected honours include a knighthood for former foreign minister Andrew Mitchell, and peerages for Julian Smith and former deputy prime minister Sir Oliver Dowden, which would trigger by-elections.

Mr Zahawi did not contest his Stratford-on-Avon seat in this year’s election.

He was sacked last year as Tory Party chairman over omissions about his tax affairs.

Mr Zahawi rose to prominence as the vaccines minister over the Covid pandemic, during which he oversaw the successful roll-out. 

After a stint as Education Secretary, he became one of the shortest-serving chancellors on record, after replacing Mr Sunak following the latter's decision to resign from Boris Johnson's government in July 2022.

He returned to the Cabinet as Conservative Party chairman under Mr Sunak, but was forced to resign after it emerged he negotiated a multimillion pound settlement with the taxman during his brief term as Chancellor.

The multi-millionaire founder of YouGov quit as an MP at the last election.