The Labour government has been warned that the UK risks losing Unilever’s £15bn ice cream listing to the Netherlands if it does not appoint an investment minister soon.

Last week, former Barclays chairman Gerry Grimstone, who was investment minister between 2020 and 2022, called on the government to appoint someone who will encourage internal investment into the UK, This is Money reported.

He told the title: “It’s a difficult job, the person has to be familiar with Whitehall and able to manage investors.”

It comes as according to The Mail on Sunday, the Netherlands’ minister of economic affairs Dirk Beljaarts met with Unilever chief executive Hein Schumacher last month.

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It is thought that in an introductory video meeting on 19 August, that he encouraged the FMCG giant to list its ice cream business on the Euronext exchange.

Unilever first unveiled plans to spin out its ice cream division in March as it said it looked become a “leaner and more accountable” business.

The move will impact ice cream brands such as Magnum, Ben & Jerry’s, Wall’s and Cornetto, with the “full separation” from the group expected by the end of 2025.

The decision is designed to help the development of the ice cream brands, which it said had “distinct characteristics” compared to other divisions, with Unilever believing the changes would “create a world-leading business” and “drive stronger performances”.

In the same month, Schumacher hinted that the Netherlands has a “good chance” of hosting the division, as he told Dutch television programme Buitenhof: “The most likely route is to split off with a separate stock exchange listing and its own head office.

“As a company, we are now listed in London, the largest market for ice cream is the United States and we currently run the ice cream division from the Netherlands. If I follow the most likely route, then the Netherlands has a good chance.”