Sunak also made seven peerages, with Michael Gove being the most notable.

The former chancellor was recognised for political and public service, and has been an MP since 2005. Hunt was appointed as chancellor in October 2022, stepping in to calm markets after the debacle of the Liz Truss and Kwasi Kwarteng government.

When Hunt took up the job, his first action was to hold an emergency budget, which he badged as an ‘autumn statement’. That November he virtually wiped out all of Kwarteng’s tax changes announced in the mini Budget in September 2022.

Also knighted is Mel Stride, who was secretary of state for work and pensions under Sunak, and previously spent a few years from 2017 to 2019 as financial secretary to the Treasury with the HMRC brief. He briefly also chaired the Treasury Committee and is now shadow chancellor in Kemi Badenoch’s Conservative shadow cabinet.