Iceland boss to be appointed Labour peer

Iceland chairman Richard Walker is set to be appointed to the House of Lords as a Labour peer, according to reports from the BBC.

Walker left the Conservative Party in 2023, and was later seen at the launch of Labour’s manifesto for the 2024 general election.

Labour party sources told the BBC that Walker was “a committed champion of families dealing with the cost of living” and “will be a strong voice in Parliament”.

Walker was among a long list of Conservative candidates to stand to be an MP, having been selected to be a member of the then-Tory government’s business council in 2022.

At the time he said he was “honoured” by the position, however 18 months later he said he could no longer support the party, telling the BBC at the time it was “out of touch” and criticising it for its handling of the economy and climate change.

Back in February, Walker gave the new government a score of “six out of 10” in comments to the Financial Times, taking issue with it raising employer national insurance contributions but praising its attempts to improve relations with the EU.

Despite having a majority in the House of Commons, Labour is currently outnumbered in the Lords, with 210 peers to the Tories’ 282.

Walker was made an OBE in the 2022 Birthday Honours for services to business and the environment. He assumed control of the frozen food retailer from his father, who founded the chain, in 2023.