The former Marks & Spencer boss Sir Stuart Rose, the football executive and Apprentice star Karren Brady, the publisher Gail Rebuk, and the former Tory pollster Andrew Cooper are among the list of new working peers announced by Downing Street.
Brady, the vice-chairman of West Ham United, is also small business ambassador for the Tories and a member of the Department for Culture, Media and Sport's women in sport advisory board.
Other Tories granted peerages include Dido Harding, the chief executive of TalkTalk; and Martin Callanan, former leader of the Tory MEPs and the European Conservatives and Reformists group.
A peerage has also been given to Carlyn Chisholm, the co-chairman of the Conservative candidates' committee; Natalie Evans, director of the New Schools Network, the charity supporting groups wanting to set up free schools; Michael Farmer, the Conservative party treasurer; and Arminka Helic, the former special adviser to the ex-foreign secretary, William Hague. Helic was the driving force behind efforts to take action on violence against women in war.
Nosheena Mobarik, chairman of the Pakistan Britain Trade and Investment Forum, has been rewarded for her work as advocate of ethic minorities in business. Another prominent Tory-supporting businesswoman, Joanna Shields, the prime minister's digital adviser and chair of Tech City UK, is also elevated.
As previously reported, Ranbir Suri, a businessman and long-term Tory donor, has also been made a lord by Cameron.
Labour has been given three peerages, including for the former actor Michael Cashman, now an MEP and gay rights campaigner.
Ed Miliband has continued the long tradition of giving peerages to former party officials by awarding one to Chris Lennie, a former Labour deputy general secretary.
Dame Gail Rebuck, the publisher and chairman of Penguin Random House, has also been chosen by Miliband to be a peer. She was married to Phillip Gould, the Labour pollster who died of cancer in 2011..
The Lib Dems have given peerages to some key figures in its now-decimated local government base. As well as a peerage for Chris Fox, the party's former chief executive, ermine consolation prizes have gone to David Goddard, the former leader of Stockport council; Barbara Janke, the former leader of Bristol council; Kath Pinnock, the former leader of Kirklees council; and Paul Scriven, the former leader of Sheffield council.
Dr Julie Smith, a senior lecturer in international relations at Cambridge University, has also been made a peer and will lend foreign policy expertise to the party.
The Democratic Unionists nominated William Hay, speaker of the Northern Ireland Assembly. He will sit on the crossbenches.
Miliband said his three nominees brought experience and talent to the Lords. He said: "Throughout his life Michael Cashman has been a passionate defender of human rights. As a founder of Stonewall and a member of the European parliament he has fought tirelessly for LGBT people.
"Gail Rebuck has made a huge contribution to British business. As one of the founders of World Book Day she has also helped millions of young people experience the joy of reading. Chris Lennie has been a valued servant of the labour and trade union movements and a lifelong charity fundraiser. I am sure he will bring this perspective and experience to his work in the Lords.
"All three will be real assets to the House of Lords over the years to come."
Nick Clegg said:"Our new peers highlight the campaigning heartbeat of our party, standing up for their local areas and championing the Liberal Democrat cause to deliver a stronger economy and a fairer society."
Labour pointed out that 13 peers created by David Cameron since becoming prime minister were Tory donors, including Farmer and Suri. The 13 have collectively given the Tories more than £22m, Labour claimed. Farmer alone has donated £5.9m.
The Labour MP for Rotherham, Sarah Champion, said: "By repeatedly promoting Tory donors who have given him millions of pounds to the Lords, David Cameron proves again who he stands up for."
The Tories pointed out that Miliband had himself given a peerage to one of the people responsible for raising donations for Labour, Lord Mendelsohn, and insisted the cost of running the House of Lords had fallen. The Lib Dems pointed out that none of its peerages had gone to donors.
The number of Liberal peers is in three figures for the first time since the late 1920s, underlining the significant role the party's peers may play after the general election, even if Nick Clegg's party is not asked or is unwilling to create a second coalition.
Ukip complained that Cameron had denied Nigel Farage's party any peerages, despite its strong showing in the European and local elections.
Full list of the new peers
ConservativeKarren Brady: vice-chairman of West Ham
Martin Callanan: former Conservative MEP and former leader of the Conservative MEPs and European Conservatives and Reformists group
Carlyn Chisholm: co-chairman of the Conservative candidates' committee
Andrew Cooper: former director of political operations to the Conservative party, founder of Populus
Natalie Evans: director of New Schools Network
Michael Farmer: founding partner of RK Mine Finance Group, treasurer of the Conservative party
Dido Harding: chief executive of TalkTalk
Arminka Helic: former special adviser and adviser on preventing sexual violence in conflict
Nosheena Mobarik: businesswoman, chairman of the Pakistan Britain Trade and Investment Forum
Sir Stuart Rose: former chief executive of Marks & Spencer
Joanna Shields: technology industry executive and entrepreneur, prime minister's digital adviser
Ranbir Suri: businessman
Michael Cashman: MEP, equality rights campaigner, former actor
Chris Lennie: former deputy secretary general of the Labour party
Dame Gail Rebuck: chairman of Penguin Random House UK
Chris Fox: former chief executive of Liberal Democrats
David Goddard: former leader of Stockport council
Barbara Janke : former leader of Bristol council
Kath Pinnock: former leader of Kirklees council
Paul Scriven: former leader of Sheffield council
Dr Julie Smith: Senior lecturer in international relations at Cambridge University
Democratic Unionist party
William Hay: speaker of the Northern Ireland Assembly
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