Peter Mandelson will step down from the House of Lords following fresh pressure on Labour veteran after the latest bombshell drop of the Epstein files.
The Lord Speaker said on Tuesday afternoon Mandelson would exit the upper chamber after receiving his life peerage in 2008.
The exit comes as millions of Epstein documents released by the US Department of Justice showed Mandelson allegedly leaked market-sensitive information to the paedophile when he was business secretary and also appeared to receive large payments over several years.
“My Lords, given the public interest and for the convenience of the House I have decided to inform the House that the Clerk of the Parliaments has today received notification from Lord Mandelson of his intention to retire from the House effective from 4 February,” Lord Forsyth said.
Mandelson had faced calls from Sir Keir Starmer and other Brown-era figures to leave the House of Lords, with the Prime Minister threatening to bring legislation forward to reform peerage rules.
Earlier on Tuesday, it was also revealed that Starmer handed the police an assessment of alleged leaks made by Mandelson.
Among the leaks that appear in the files include Mandelson telling Epstein about the government’s asset sales to ease pressures on public finances at the height of the financial crisis.
He also seemed to confirm that a bailout worth around $500bn during the eurocrisis was set to be announced.
Police review Mandelson files
The Metropolitan Police confirmed on Monday night it was reviewing reports of alleged misconduct in public office, with parties including Reform UK and the Scottish National Party referring the matter over to the authorities.
Starmer, who last year said he had “full confidence” in his former ambassador to the US, said Mandelson had “let his country down”.
During his cabinet meeting, Starmer said Mandelson’s claim to have no recollection of payments made by Epstein would be “gobsmacking” in the eyes of the publlic.
He also warned he was “not reassured that the totality of the information has yet emerged” regarding new information unearthed in the Jeffrey Epstein files.
The ordeal raises questions over Starmer’s handling of Mandelson, having controversially appointed him as ambassador to the US after being elected.
Mandelson was sacked after it was revealed that he maintained contact with the disgraced financier after his first conviction.
Former Prime Minister Gordon Brown said on Monday that he had alerted Starmer on Mandelson’s potential leaks shortly before the sacking.
There are also doubts around security protocols within government given suggestions Mandelson held sensitive government information on personal accounts.
