Former Arundel MP takes flight to the Lords

Mr Flight, who was controversially de-selected by the Conservatives before the 2005 election after suggesting his party planned to make bigger spending cuts making remarks than it was admitting, is one of 54 people being elevated to the House of Lords, it was announced today.

He was also sacked as deputy chairman of the party. Before then he had held a number of positions in the shadow cabinet.

Mr Flight, a multi-millionaire from a successful career in finance, was replaced as Conservative candidate for Arundel and South Downs by Nick Herbert, who went on to successfully defend the seat for the Tories in 2005 and 2010.