Iceland supermarket boss Richard Walker to become Labour peer
Iceland supermarket chief executive Richard Walker is set to be appointed a Labour peer in the House of Lords, using his new position to address the pressing cost of living crisis, reports BritPanorama.
Walker will join approximately 25 new peers being introduced by Labour leader Sir Keir Starmer, who aims to strengthen party representation in the Lords following recent electoral setbacks. Party sources have expressed enthusiasm about Walker’s appointment, viewing him as a valuable asset for Labour.
A Labour representative praised Walker’s commitment to assisting families facing economic challenges, noting his initiatives to make infant formula more affordable and to protect customers from predatory lenders. “He will be a strong voice in Parliament and we are delighted to welcome him,” the source stated.
In 2022, Walker launched interest-free loans for customers amid rising inflation, with Iceland positioning itself as a leading employer of former offenders, having hired over 1,000 ex-prisoners in the past two years. The supermarket also incentivizes customers to report shoplifters, offering £1 on their bonus cards for each thief identified.
Before joining Labour, Walker had considered running as a Conservative MP but distanced himself from the party, citing a disconnect with its values. The list of new peerages is expected to be announced shortly before Christmas, further reshaping the dynamics within the House of Lords.
Walker’s appointment reflects ongoing efforts within the Labour Party to address contemporary economic issues and strengthen its influence in the House of Lords as it prepares for future political challenges.
