Theresa May is caught in the midst of a cronyism row after business leaders who backed her Brexit deal were announced in the New Year Honours list.

It has fueled speculation that the system might be used to encourage influential persons to support the withdrawal agreement and 'toe the establishment line'.

Among those to receive an honour is Juergen Maier, chief executive of Siemens' British business, and Katherine Bennett, senior vice-president of Airbus in the UK.

Juergen Maier, chief executive of Siemens' British business, has been awarded a CBE in the New Year Honours list. He has previously said of the withdrawal agreement: 'My gut feeling is that we need to get behind it and we need to make this deal work because what we need is certainty.

Katherine Bennett, vice-president of Airbus in the UK, earlier this year told MPs the deal would allow the company to emerge from a 'holding pattern' that has seen it hold back from big investment decisions due to uncertainty

Both received CBEs and have previously spoken out in favour of Mrs May's withdrawal agreement.

Mr Maier has previously said of the Brexit deal: 'My gut feeling is that we need to get behind it and we need to make this deal work because what we need is certainty.'

While Ms Bennett earlier this year told MPs the deal would allow the company to emerge from a 'holding pattern' that has seen it hold back from big investment decisions due to uncertainty.

She has been vehement in her opposition to a no deal Brexit, saying: 'We don't deal in idle threats. We seriously believe a no deal Brexit would be catastrophic.'

Richard Tice, the founder of pro-Brexit group Leave Means Leave, was critical of the news.

He told the Financial Times: 'This sounds like a continuation of the establishment rewarding people from the world of politics and business who toe the establishment line.'

Other business leaders to receive honours include Ann Gloag, co-founder of Stagecoach and Jayne-Anne Gadhia, the former chief executive of Virgin Money - who both become dames.

While Donald Brydon, who is set to step down as chairman of the London Stock Exchange in May, is knighted.

Jayne-Anne Gadhia, the former chief executive of Virgin Money, has been made a dame in the New Year Honours list

Leading Brexiteer Sir Edward Leigh (pictured) has been made a privy counselor, alongside Tories Philip Dunne and Sir Roger Gale who have been appointed to the Privy Council

With the crunch vote on Theresa May's EU Withdrawal Agreement due within the next three weeks, Westminster has also been buzzing with speculation that honours may be deployed as a means of luring MPs to back the Prime Minister.

Leading Brexiteer Sir Edward Leigh has been made a privy counselor, alongside Tories Philip Dunne and Sir Roger Gale who have been appointed to the Privy Council.

While Tory MP Gary Streeter, who backed Remain in the 2016 referendum, has already made clear that he supports the Prime Minister's deal.

'I am deeply honoured,' said Mr Streeter. 'As far as I am concerned, I want to dedicate the award to my wife and family for supporting me through the last quarter of a century at Westminster, which has involved sacrifice on their part.'

And John Redwood - one of the Eurosceptic Cabinet ministers branded 'bastards' by John Major as he fought to ratify the Maastricht Treaty in 1993 - was made a knight in the New Year's Honours list.

Some have accused Theresa May of weakness after John Redwood - one of Parliament’s most prominent Brexiters - was made a knight in the New Year Honours list

Tory MP Gary Streeter (pictured), who backed Remain in the 2016 referendum, has already made clear that he supports the Prime Minister's deal

A leading supporter of the Best for Britain campaign, Liberal Democrat MP Layla Moran, said the announcement brought 'dishonour' on the honours system.

'I cannot see how it is anything but a desperate attempt to blunt criticism of the Prime Minister's Brexit deal by dangling a knighthood or two in front of MPs,' said Ms Moran.

'All this does is erode trust in politics. Knights of the realm are meant to represent the best of being British, not backstabbing Brexit extremists like John Redwood.

'It just shows how weak Theresa May is that she is seen to be rewarding him for his behaviour.'

This year's honours list includes the likes of best-selling author Philip Pullman, 72, creator of the His Dark Materials trilogy, and Michael Palin, 75.

Others also to be honoured include children's author Julia Donaldson, 70, whose works include The Gruffalo and Stick Man, receives an upgrade from MBE to CBE.

Film maker Christopher Nolan, 48, whose work includes the Dark Knight trilogy as well as Dunkirk, receives a CBE.

Actress Thandie Newton, 46, who starred in the highly praised BBC series Line of Duty, receives an OBE for services to film and to charity.

And Scottish classical violinist Nicola Benedetti, 31, receives a CBE for services to music, as does Pink Floyd drummer Nick Mason, 74.