One of UK’s richest men and Boris Johnson backer nominated for peerage

PUBLISHED: 19:22 06 February 2020 | UPDATED: 08:13 07 February 2020

Prime Minister Boris Johnson reacts as he listens to students during his visit to the Department of Mathematics at King's Maths School. (Photo by Daniel Leal-Olivas-WPA Pool/Getty Images)

Prime Minister Boris Johnson reacts as he listens to students during his visit to the Department of Mathematics at King's Maths School. (Photo by Daniel Leal-Olivas-WPA Pool/Getty Images)

2020 Getty Images

Boris Johnson has nominated a Tory donor and Brexiteer for a peerage after the city tycoon donated £50,000 to his leadership campaign.

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Peter Cruddas, the former Tory party treasurer has given more than £3.5 million to the Conservatives and more than £1.5 million to the Vote Leave campaign, which he co-founded.

Cruddas, who founded CMC Markets, is on a list of nominees to be considered by the House of Lords Appointments Commission.

He donated £50,000 to Johnson on June 6 last year during the Tory leadership campaign.

The spread betting tycoon said in 2018 he "was very disappointed with the Lords" for having "exceeded their authority" over trying to amend the Brexit Bill.

"It's clear to me they were trying to block Brexit, not trying to amend Brexit terms for the sake of the country," he added in an interview with the PA news agency.

He was ranked 264 in the latest Sunday Times Rich List with his family being estimated as having wealth totalling £509 million.

His name follows reports that former chancellors Ken Clarke and Philip Hammond were also on the list.

Downing Street and the House of Lords Appointments Commission refused to comment on any nominations.

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