London, December 08, 2025
Richard Walker, executive chair of Iceland Foods, has been appointed a Labour peer in the House of Lords, marking a significant shift from his previous role as a Conservative donor. This appointment, announced in early December 2025, highlights Labour leader Keir Starmer’s strategy to enhance engagement with the business sector.
Appointment Details
Labour plans to introduce around 25 new peers to strengthen its representation in the House of Lords, with Walker being a prominent addition. This move comes as part of Starmer’s broader agenda to balance political voices within the chamber and bring influential business figures into the Labour fold.
Walker’s Political Transition
Until recently, Walker was known for his support of the Conservative Party, having donated nearly £10,000 in 2020 and appearing on the party’s approved candidates list in 2022. However, earlier this year, he publicly endorsed Starmer and the Labour Party, citing an admiration for Starmer’s leadership approach and signalling a reshaping of his political allegiances.
Business Background
Walker assumed the role of executive chair at Iceland Foods in 2023, succeeding his father Malcolm Walker who founded the company in 1973. Historically, the Walker family has aligned with Conservative business interests, making Richard Walker’s move to Labour particularly noteworthy within the retail sector.
Political and Economic Significance
Walker’s peerage appointment strengthens Labour’s pro-business voice in the House of Lords, offering a counterpoint to prominent Conservative peers such as Simon Wolfson of Next. This occurs amid ongoing debates on business rates and taxation policies under the Labour administration. Walker’s reputation as a defender of pro-business policies and supporter of the UK’s ties with the EU positions him as an influential figure in shaping future economic discussions.
The Labour Party has not issued an official comment on the appointment, and Walker has yet to provide a public response. Nonetheless, the development signals a potential recalibration of business and political alliances that could influence policy-making and economic governance in the UK.