COTSWOLD tycoon Sir Anthony Bamford is heading for a peerage after being nominated by Conservative leader David Cameron.

The staunch Tory supporter, who lives at Daylesford, near Stow-on-the-Wold, has been nominated for a seat on the House of Lords.

Conservative Party leader David Cameron put the construction industry mogul’s name forward in a list of 30 working peers.

A Conservative central office spokesman confirmed Sir Anthony Bamford was nominated in January.

Sir Anthony, chairman of construction equipment maker JCB, has been a significant donor to the party. He has given nearly £750,000 to the Conservative Party, according to the Electoral Commission’s register of donation to political parties. Of that, £616,000 was in cash, £118,000 was non-cash which covered travel and flight expenses.

He has also made a personal donation of more than £85,000.

His wife, Lady Carole Bamford, runs exclusive farm shop Daylesford Organic on their Cotswold estate.

Sir Bamford recently signed the business leaders’ letter calling for Labour’s rise in National Insurance to be scrapped.

The nomination has sparked criticisms from the opposition. Mark Dempsey, Cotswold Labour parliamentary candidate, said it raises questions about the nomination process.

"This is very concerning," he said. "It raises further questions about party finance and I think that ultimately it shows the need for a fully-elected House of Lords."

He was backed by Cotswolds Lib Dem parliamentary candidate Mike Collins who said the way the House of Lords is organised needs a complete overhaul.

"It is appalling," he said.

"Sir Bamford is responsible for thousands of pounds of donations, it smacks of the party rewarding for his support.

"The Lib Dems think people should not be given peerages for big donations. They may try and say his nomination is not connected to the donations but they can’t pull the wool over people’s eyes."

Cotswold Conservative parliamentary candidate Geoffrey Clifton-Brown said he supported Sir Bamford's nomination.

"Sir Bamford has done a huge amount for this country through his business," he said.

"Irrespective of whether he donates money, he is someone who thoroughly deserves to be given peerage"