Iceland food boss Richard Walker warns whoever takes over at No10 must tackle a ‘freight-train of inflation’ this autumn from food and energy prices
The government’s cost of living tsar has urged the next Prime Minister to “wake up and smell the coffee” about the financial plight facing many families.
His intervention comes with newly re-elected MP Andy Burnham set to replace Sir Keir Starmer as PM. Sir Keir resigned earlier this week following a slew of senior cabinet resignations.
Richard Walker, boss of frozen food chain Iceland, said: “When I visit our stores, people aren’t talking about leadership speculation. Because they simply don’t care. They are asking why their bills are still so high and whether anyone in politics is focused on the practical things that would actually help them.”
One of Mr Burnham’s most pressing priorities will be making voters feel better amid an ongoing cost of living squeeze for millions. Key to that will be trying to kick start the economy, along with relieving the pressure from a raft of punishingly high household bills.
Yet writing exclusively for the Mirror, Lord Walker warned of a new wave of price hikes facing households this Autumn. Economists say the fall-out from the Iran war on energy and food prices could continue for many months to come, despite a tentative peace deal between US President Donald Trump and Iran.
“Now is not the time to duck tough decisions or to kick the can down the road,” Lord Walker wrote, in a warning to the government. “Because households and businesses up and down the country will have to grapple with a freight-train of inflation that will hit in the Autumn on everything from food to heating.”
It isn’t the first time Lord Walker has intervened the current political turmoil. Last month saw him warn Labour against “Westminster navel-gazing” as he backed Sir Keir to remain as PM.
Lord Walker was appointed the government’s cost of living champion by PM Sir Keir Starmer in February this year. He was tasked with considering “how the whole of Government can go further to deliver on its priority of easing the cost of living for families”, and has reported directly to the PM in the voluntary role.
The businessman, who is executive chairman of Iceland, has made a series of recommendations on how to relieve the pressure on households. “The Government has begun work to adopt those measures on which it can move quickest and where political authority is needed, to make decisions.” he said. “I need the candidate or candidates who now fancy themselves in the top job to sit up and take notice of this agenda – to wake up and smell the coffee.
“Now is not the time to duck tough decisions or to kick the can down the road. Because households and businesses up and down the country will have to grapple with a freight-train of inflation that will hit in the Autumn on everything from food to heating.”
His warning of higher prices comes despite the Office for National Statistics reporting that inflation eased to 2.8% last month. However, experts believe it will prove a temporary relief and that living costs will begin to rise again as the year goes on, before dropping back again next year.
Lord Walker also delivered a veiled plea to other retailers to not pass on the full impact of higher costs. He said: “I urge leaders to consider where they can take a step to make things more affordable, especially if you’re dealing with essential goods. This is what I mean by thinking customer-first.”
He has previously blasted fuel forecourts for as he put it “taking the p***” with opportunistic price rises amid the Middle East crisis.
