Keir Starmer to make Iceland boss Richard Walker a Labour peer | Iceland Foods

The former Conservative backing boss of an Icelandic supermarket will become a Labor candidate when the party appoints a further 25 representatives to the upper house of parliament later this month.

The Guardian understands Keir Starmer will appoint Richard Walker to the House of Lords; It is the culmination of an unusual and rapid political transformation for someone who was named as a prospective Conservative Party parliamentary candidate just over three years ago.

It was only February this year when Iceland’s chief executive rated Starmer’s government 6 out of 10, saying Labor should focus on “inclusive growth and everyday growth” that would “trickle down to the lives of ordinary people”.

As a Labor candidate, Walker will have the chance to push for policies close to his heart, including closer ties with the EU as well as a more positive message on the economy.

He took over leadership of Iceland in 2023 after his father, Malcolm Walker, left the frozen food chain he founded in 1973. Both men had previously expressed their support for the Conservative party and donated money to it.

Richard Walker donated nearly £10,000 in July 2020, when Boris Johnson became prime minister during the Covid pandemic. He was later added to the party’s list of approved parliamentary candidates in 2022, but made a sudden comeback the following year.

Writing in the Guardian in 2023, Walker said the Conservatives were “badly out of touch with business, the economy and the everyday needs of the British people”.

He later backed Keir Starmer in early 2024, saying that “after a lot of soul searching” he had decided “he has exactly what it takes to be a great leader”. But Walker’s comments did not suggest a possible Labor politician. He said the Conservatives’ abandonment of “fundamental Conservative principles” had added to his frustration.

However, his appointment as a Labor MP, first reported by the Sun, will add a rare business voice supporting Starmer’s government, which has disrupted many industries by increasing national insurance. The Conservative party counts another retail boss, Next’s Simon Wolfson, among its peers.

Some bosses have also complained about increases in business rates paid on commercial properties introduced in last month’s budget. But some large retailers expressed relief that the changes were less onerous than expected.

Labor declined to comment. Walker has been approached for comment.