Keir Starmer is set to appoint Richard Walker, executive chair of Iceland, as a Labour peer in the House of Lords later this month. The move marks a rapid political transformation for the former Conservative donor and one-time prospective Tory MP candidate.
Walker, who took over Iceland in 2023 from his father Malcolm Walker, donated nearly £10,000 to the Conservatives in July 2020. He was added to the party's approved parliamentary candidates list in 2022 but switched allegiance in 2023, citing the Tories' drift from business and everyday needs.
In early 2024, Walker endorsed Starmer, stating after 'a lot of soul-searching' that the Labour leader had 'exactly what it takes to be a great leader'. However, he rated the government six out of ten in February, urging a focus on inclusive growth.
As a peer, Walker is expected to advocate for closer EU relations and a more positive economic message. His appointment adds a rare business voice to Labour, which has faced criticism from some sectors over national insurance rises and business rate changes in the recent budget.
The Labour Party declined to comment, and Walker was approached for comment.
