In a significant political realignment, Sir Keir Starmer is set to appoint Richard Walker, the executive chair of the Iceland supermarket chain, as a Labour peer. The move marks a dramatic shift for the former Conservative donor, who was once on the party's approved parliamentary candidate list.
From Tory Prospect to Labour Peer
The Guardian reports that Richard Walker will be among 25 new Labour representatives appointed to the House of Lords later this month. This culminates a rapid political journey for the retail boss, who was named as a prospective Tory MP candidate just over three years ago, in 2022.
Walker's transition has been public and pronounced. In July 2020, during Boris Johnson's premiership, he donated nearly £10,000 to the Conservative Party. However, by 2023, he penned an article for The Guardian criticising the Tories for having "drifted badly out of touch with business and the economy, and with the everyday needs of the British people".
A Business Voice for Starmer's Government
Walker's appointment, first reported by The Sun, will provide a notable business voice within the Labour benches in the Lords. This comes as Starmer's government has faced criticism from some business sectors over policies like the increase to national insurance.
As a peer, Walker is expected to advocate for policies he has championed, including fostering closer relations with the European Union and promoting a more positive economic narrative. His backing of Starmer became explicit in early 2024 when, after "a lot of soul-searching," he declared the Labour leader had "exactly what it takes to be a great leader".
Family Legacy and Political Shift
Richard Walker took the helm at Iceland in 2023, succeeding his father Malcolm Walker, who founded the frozen food retailer in 1973. Both men have historically supported the Conservative Party financially.
Walker's disenchantment appeared rooted in a belief that the Conservatives had abandoned "basic Conservative principles". His shift underscores a wider search for stability and pro-business policies, even as some retail leaders have expressed concerns over recent budget changes to business rates.
The Labour Party has declined to comment on the appointment, and Walker was approached for comment. His elevation adds a high-profile business figure to Starmer's team, contrasting with the Conservative peerage held by Next boss Simon Wolfson.
