ICELAND supermarket boss Richard Walker will be made a Labour peer, The Sun on Sunday can reveal.
Mr Walker is expected to use his new seat in the House of Lords to campaign on tackling the cost of living crisis.
He will be one of around 25 new peers created by Sir Keir Starmer, who is beefing up Labour’s ranks in the Lords after suffering a string of defeats.
Party figures are “delighted” about the star signing of the businessman.
A Labour source said: “Richard Walker is a committed champion for families dealing with the cost of living – from campaigning to make infant formula more affordable to helping customers avoid loan sharks.
“He will be a strong voice in Parliament and we are delighted to welcome him.”
Mr Walker launched interest free loans for his customers in 2022 – at the height of the recent inflation crisis.
Iceland customers will get paid to snitch on shoplifters. They can bag £1 on their bonus card for each thief they point out to store workers.
And Iceland is now the UK’s biggest recruit of former prisoners, interviewing over 1,000 ex-lags for jobs in just over two years.
Mr Walker has previously considered running as an MP for the Conservative Party.
But he quit the Tories in 2023 branding them “out of touch”.
The peerages will formally be announced shortly before Christmas.
