Next chief executive Simon Wolfson has been named a Conservative working peer in the Dissolution Honours List put forward to the Queen by former Prime Minister Gordon Brown.

Wolfson’s elevation to the peerage was widely anticipated. The apparel boss was a prominent supporter of Conservative Party leader David Cameron, and took a high profile role in the election campaign by organising the business rebellion against Labour’s planned National Insurance tax rise.

It is understood that Wolfson’s role at Next will not change as a result of his peerage.

No comment was available from Wolfson.