Sir Richard Branson, Virgin Group founder, Arun Sarin, chief executive of Vodafone, and Tony Hayward, John Browne’s replacement at BP, are among a string of high profile City executives who have been recruited to advise Gordon Brown and his new cabinet on business.

The list of FTSE 100 chief executives who will serve on the newly formed Business Council for Britain also includes and Jean-Paul Garnier, GlaxoSmithKline chief, Stephen Green of HSBC and Tesco’s Sir Terry Leahy.