New Forest West MP Sir Desmond Swayne says knighthoods are a 'light way' for former Prime Minster David Cameron to pay off 'debts of honour'.
There has been outrage since the Sunday Times published a leaked list of those Mr Cameron is said to be putting forward in his resignation honours list - including personal aides, political donors and senior figures on the losing Remain campaign.
Prime Minister Theresa May has been under pressure to intervene but a spokeswoman said the new premier would not interfere in decisions of the honours committees, which are independent of No 10.
"It is standard for an outgoing prime minister to submit a resignation list," the spokeswoman said.
"The names on the list were at the former prime minister's discretion, and they will now go through all the proper processes and committees.
"It would set a very bad precedent for a new prime minister to interfere in the official processes."
The cronyism row was sparked by reports that Mr Cameron had recommended knighthoods for four pro-EU cabinet colleagues - Philip Hammond, Michael Fallon, Patrick McLoughlin and David Lidington.
Mr Cameron also requested a Companion of Honour award for George Osborne, who was dismissed as chancellor by Prime Minister Theresa May, according to the Sunday Times.
Will Straw, head of the failed official pro-Remain campaign, was proposed for a CBE, and more than 20 Downing Street staff were recommended for awards, according to the report.
Among those reported to be recommended for OBEs is Isabel Spearman, who helped Samantha Cameron with her diary and outfits for various engagements.
It was also claimed Mr Cameron recommended knighthoods for major Tory donors Ian Taylor and Andrew Cook.
Labour deputy leader Tom Watson said Mr Cameron's bid to reward his friends presented the worst of the "old boys' network", adding: " That Mr Cameron proposes to reward his friends network on such a huge scale will not only bring the honours system into disrepute, it will undermine the reputation of the Theresa May."
But Sir Desmond, who was knighted for political service in this year's New Year Honours list, told the BBC's Westminster Hour the list was representative of Mr Cameron's six years as prime minister.
The New Forest West MP - who was David Cameron's parliamentary private secretary and a minister - said: "The reason we have a resignation honours list is because over a period of government, particularly difficult government in a coalition, a prime minister has to cajole and get the support of a number people and he builds up a debt of honour.
"I think that frankly an honours list is a relatively light way of paying it off. I think we get far too excited about these things.
"The reality is with any honours list there are names that will warm our hearts and names that will send us into an apoplectic rage."
Sir Desmond later told Sky News there would be "robust scrutiny" of all those put forward for honours and envy at the awards was an "unpleasant phenomenon".
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