Keir Starmer will appoint Richard Walker, the chief executive of Island Foods and a former Conservative donor, to the House of Lords – in one of the most striking political moves for a senior British business official in recent years.
The Guardian understands Walker will join a cohort of around 25 new Labor colleagues expected to be announced later this month. This gives the supermarket manager a direct platform in Parliament to advocate for policies that are at the heart of his public election campaign, including closer ties with the EU and a more optimistic economic narrative.
Walker’s elevation to the House of Lords completes a rapid political realignment. He was on the list as a potential Conservative MP candidate just over three years ago and had donated almost £10,000 to the party in the summer of 2020, during Boris Johnson’s time in office. He was added to the list of approved Conservative candidates in 2022.
But in 2023, Walker publicly severed ties with the party, accusing the Conservatives of being “completely out of touch with business and the economy and with the everyday needs of the British people.” He criticized the government’s handling of key issues such as retail crime, inflation and the post-Brexit trading environment.
In early 2024, he backed Starmer after what he described as “a lot of soul-searching”, arguing that the Labor leader “has exactly what it takes to be a great leader”. Even then he shied away from portraying himself as a future Labor politician. But his peerage will now make him one of the most prominent pro-Labour voices in British business.
Walker took over as CEO of the frozen food retailer in 2023, succeeding his father Malcolm, who founded Iceland in 1973. Both father and son previously supported the Conservative Party and were considered part of the party’s natural business base.
His appointment to the House of Lords also comes at a politically sensitive time for Starmer’s government. While several major retailers privately welcomed the fact that tariff reforms for businesses in the autumn budget were less burdensome than expected, other business groups remain angry about wider tax rises – including Labour’s decision to increase national insurance contributions.
The move also gives Labor a counterweight to the Conservatives’ established list of retail colleagues, including Simon Wolfson, the chief executive of Next.
Labor declined to comment on the appointment. Walker was also contacted for comment.
