Richard Walker of Iceland Set to Join Labour as a Peer, Insider Reports

Richard Walker, the head of the Iceland supermarket chain, is poised to receive a nomination for a Labour peerage, as confirmed by party insiders.

Sources indicate that Walker is recognized as “a dedicated advocate for families facing financial challenges” and is expected to become a significant voice in the House of Lords.

The 45-year-old businessman departed from the Conservative Party in 2023, later attending the unveiling of Labour’s manifesto for the upcoming 2024 general election.

Background and Political Shift

Taking over the frozen food retailer founded by his father in 2023, Walker has had an eventful career within the political landscape.

Previously, he was among numerous Conservative candidates vying for a parliamentary seat and was appointed to the business council of the then-Conservative government in 2022, a role he described as a great honor.

However, after 18 months, he expressed his inability to continue supporting the party, citing concerns about its disconnect from the public and critiquing its management of economic and environmental issues.

Support for Labour

Subsequently, Walker aligned himself with Labour, praising the current Prime Minister, Sir Keir Starmer, in an article where he asserted that Starmer possesses the qualities necessary for effective leadership.

In comments made to the Financial Times earlier this year, he rated the new government a “six out of ten,” criticizing its decision to increase national insurance contributions for employers while commending its efforts to enhance relations with the European Union.

Labour’s Position in Parliament

Despite holding a majority in the House of Commons, Labour currently faces a numerical disadvantage in the House of Lords, where it counts 210 peers compared to the Conservative Party’s 282.

In recognition of his contributions to business and environmental efforts, Walker was honored with an OBE during the 2022 Birthday Honours.