A JCB spokesman said: "Sir Anthony feels honoured to have been invited to serve in the House of Lords as a working peer. He is looking forward to making a positive contribution on key business and industry issues, particularly in relation to manufacturing, engineering and exporting."

He became Chairman and Managing Director of JCB at the end of 1975, succeeding his father, the late Joseph Cyril Bamford CBE, who founded the company nearly 61 years ago. His career began with a two year apprenticeship at Massey Ferguson in France before he started at the Rocester headquarters in 1964.

Under Sir Anthony’s leadership, JCB has grown to become one of the world’s largest and most successful construction equipment manufacturers. JCB has won more than 50 premier awards for exports, marketing, design, technology and for its care for the environment, among them 18 Queen’s Awards for Technological and Export achievement.

Sir Anthony was knighted in 1990 was a former High Sheriff and is a Deputy Lord Lieutenant of Staffordshire.

In December 2004, after 29 years as both Chairman and Managing Director of JCB, Sir Anthony announced that, while he would continue as Chairman, he would relinquish the role of MD.