Peter Mandelson, a former heavyweight of the UK political scene, is stepping down from his position in the House of Lords after new revelations in the Epstein files, the speaker of the house announced on Tuesday.
Mandelson’s connection to disgraced financier Jeffrey Epstein was already known, but newly released files show the Labour politician sent emails to the deceased sex offender offering information and may have broken the law. A spokesperson for Labour Prime Minister Keir Starmer said the emails contained “likely market-sensitive information.”
UK police are examining whether Mandelson could face a criminal investigation; that inquiry was announced on Monday, a day after Mandelson quit the Labour Party. Starmer’s spokesperson said the prime minister told his Cabinet the government would cooperate with police inquiries and that he was not reassured all pertinent information had yet emerged.
What are the new revelations about Peter Mandelson?
The newly released Epstein files — more than 3 million pages of documents related to the US Justice Department’s case — show Mandelson passed on sensitive information around the time of the 2008 financial crisis. As business secretary, he reportedly sent Epstein an internal government report exploring how the UK could raise money after the crash, including options such as selling government assets. In May 2010, he sent a message saying “sources tell me 500 b euro bailout” just hours before European governments announced a €500 billion deal intended to protect the euro.
Who is Peter Mandelson?
Mandelson, 72, has been a prominent figure in British politics since the early 1990s, first entering the House of Commons then serving as a skilled strategist and fixer, including as Labour’s director of communications. He held several ministerial roles under Labour prime ministers Tony Blair and Gordon Brown, including Business Secretary and First Secretary of State, a role often compared to deputy prime minister.
He has previously resigned amid controversy: in 1998 over an undisclosed home loan from a party ally with media links, and in 2001 over allegations of improperly influencing a passport application. Mandelson served as European Commissioner for Trade from 2004 to 2008. He later returned as Ambassador to the United States under Prime Minister Keir Starmer but was dismissed from that role late last year as his ties to Epstein emerged.
Kemi Badenoch, leader of the opposition Conservative Party, said the speed of Mandelson’s downfall raised questions about Starmer’s decision to reappoint him as US ambassador.
Edited by: Jenipher Camino Gonzalez
