In a significant political crossover, the executive chairman of supermarket chain Iceland, Richard Walker, is poised to enter the House of Lords as a Labour peer. The appointment, expected to be confirmed in the coming weeks, marks a dramatic shift for the former Conservative donor and would-be MP.
From Tory Donor to Labour Voice
Sir Keir Starmer is preparing to appoint around 25 new peers, with Mr Walker among them, as first revealed by the Sun on Sunday. A Labour source praised the Iceland boss, stating he is "a committed champion for families dealing with the cost of living". They highlighted his campaigns for more affordable infant formula and efforts to protect customers from loan sharks, suggesting he will be a strong voice in Parliament.
Mr Walker's political journey has seen a notable evolution. He previously donated to the Conservative Party and explored standing as a Tory parliamentary candidate. However, in 2023, he quit the party and subsequently backed Sir Keir Starmer's Labour in the 2024 general election. Explaining his shift, he said the Conservatives had "moved away" from him, while Labour had moved towards the "centrist pragmatic views that I've long held".
A Campaigner on Social and Retail Issues
Beyond the political sphere, Richard Walker is known for his activism on several fronts. He has been a prominent campaigner on environmental issues, particularly reducing plastic use. He has also lobbied for a price cap on baby formula to help struggling families.
His approach to retail crime also made headlines earlier this year when he announced that Iceland customers who report shoplifters would receive a £1 reward. Mr Walker argued that the losses from theft prevent businesses from lowering prices for all customers.
Narrowing the Lords Gap
This batch of peerages carries strategic importance for the Labour government. Despite its large majority in the House of Commons, Labour remains outnumbered in the Lords, where the Conservatives are still the largest party. Alongside Liberal Democrat and Crossbench peers, the Tories have successfully delayed key government legislation, recently forcing a concession on Labour's flagship Employment Rights Bill.
Appointing 25 new Labour peers will narrow the gap with the Conservatives, but Sir Keir's party will still trail by almost 50 seats. This deficit is expected to persist until the government fulfils its manifesto pledge to remove hereditary peers from the upper chamber, a move that would fundamentally alter its composition.
