Sources within the Labour Party have confirmed that Richard Walker, chairman of the supermarket chain Iceland, is set to be nominated for a peerage.
Party insiders have lauded Mr. Walker as “a committed champion of families dealing with the cost of living” and anticipate he “will be a strong voice in Parliament.”
The 45-year-old businessman departed the Conservative Party in 2023 and was later observed at the launch of Labour’s manifesto for the 2024 general election.
He assumed leadership of the frozen food retail chain in 2023, succeeding his father, the company’s founder.
Mr. Walker was previously among a cohort of Conservative candidates vying for a seat in Parliament, having been appointed to the then-Tory government’s business council in 2022.
He expressed his “honour” at the time of his appointment.
However, 18 months later, he publicly declared his departure from the party, telling the BBC that it was “out of touch” and criticizing its handling of both the economy and climate change.
Subsequently, Mr. Walker aligned himself with the Labour Party, asserting in an op-ed for The Guardian that current Prime Minister Sir Keir Starmer “has exactly what it takes to be a great leader.”
In February of this year, he offered the new government a “six out of 10” rating in comments to the Financial Times, expressing reservations about the increase in employer national insurance contributions while commending efforts to improve relations with the EU.
Despite holding a majority in the House of Commons, Labour currently has fewer representatives in the House of Lords, with 210 peers compared to the Conservatives’ 282.
Mr. Walker was awarded an OBE in the 2022 Birthday Honours for his contributions to business and the environment.
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