Sources say Iceland CEO Richard Walker will be appointed as a Labour peer

Richard Walker, the head of the supermarket chain Iceland, is expected to be nominated for a Labour peerage, according to insiders from the party. Sources describe him as "a dedicated advocate for families facing the rising cost of living" and predict he "will provide a significant voice in Parliament."

The 45-year-old businessman departed from the Conservative Party in 2023 and later attended the unveiling of Labour's manifesto for the 2024 general election.

Walker took over leadership of the frozen food retailer from his father, the company's founder, in 2023. Previously, he had been on a shortlist of Conservative candidates for parliamentary positions and was appointed to the Tory government's business council in 2022, a role he initially described as "an honor."

However, after 18 months, he publicly withdrew his support for the Conservatives, criticizing the party for being "out of touch" and for its approach to economic policy and climate change. He subsequently endorsed Labour, praising Sir Keir Starmer in the Guardian as possessing "the qualities required for exceptional leadership."

Earlier this year, Walker rated the Labour government a "six out of 10" in remarks to the Financial Times, expressing concern over the rise in employer national insurance contributions while commending efforts to strengthen EU relations.

Although Labour holds a majority in the House of Commons, it remains behind the Conservatives in the House of Lords, with 210 peers compared to the Tories' 282. Walker was awarded an OBE in the 2022 Birthday Honours for his contributions to business and environmental initiatives.

Author: Aiden Foster