Former home secretary Dame Priti will collect her damehood, while Sir Jacob will receive a knighthood – both for political and public service.
The politicians were both on former prime minister Boris Johnson’s resignation honours list, which was branded a “catalogue of cronies” by his critics.
A convicted murderer who tackled the Fishmongers’ Hall terror attacker will be recognised for his bravery at Windsor Castle.
Steven Gallant was one of four men who confronted convicted terrorist Usman Khan until armed police arrived at the scene in November 2019.
Khan, who had two large knives and a fake suicide belt, stabbed Cambridge graduates Jack Merritt, 25, and Saskia Jones, 23, and injured three other people before running on to London Bridge.
Mr Gallant, one of two men convicted of killing Barrie Jackson in Hull in 2005, had been allowed out on licence for the first time when the incident occurred.
He will receive the Queen’s Gallantry Medal alongside Darryn Frost, who also confronted Khan.
The decoration is awarded for exemplary acts of bravery.
The four men who confronted Khan featured on this year’s Civilian Gallantry List, the last to be approved by the late Queen.
John Crilly and Lukasz Koczocik also stepped in to confront the attacker.
Ex-prisoner Mr Crilly hosed Khan with a fire extinguisher and communications manager Mr Frost jabbed at Khan with a narwhal tusk, sending him off balance.
Mr Gallant then tackled Khan to the ground, where all three restrained him until armed police arrived.
It came after Mr Koczocik used a long ceremonial pike taken from the walls of the Grade II-listed building to disarm Khan.
Mr Koczocik was presented with the Queen’s Gallantry Medal by the Princess Royal at Windsor Castle on Tuesday.
He told the PA news agency: “This medal has brought closure, this attack is behind me and yet it’s an amazing honour.”
Mr Crilly was unable to attend Windsor Castle on Tuesday to receive his medal and his investiture will be rearranged for a later date.
Commodore David Pond, the former chief executive of Great Britain Wheelchair Rugby is set to receive an MBE on Wednesday for services to the sport.
Pauline Barker, the founder of the Devon and Cornwall Wild Swimming group, is also set to receive an MBE for services to swimming in south-west England.
