Health Secretary Wes Streeting has ordered the removal of photographs of Peter Mandelson from the Department of Health and Social Care, following revelations that Mandelson allegedly shared market-sensitive information with convicted sex offender Jeffrey Epstein. The move comes as political pressure mounts over the former Labour minister's ties to Epstein.
According to newly released documents from the US Department of Justice, Mandelson is alleged to have tipped off Epstein about Gordon Brown's resignation hours before it was publicly announced in May 2010. An email believed to be from Mandelson to Epstein reportedly read: 'Finally got him to go today …' The tip-off gave Epstein advance knowledge of a major political event that could affect financial markets.
The documents also suggest Mandelson may have informed Epstein about a €500bn eurozone rescue deal before it was officially announced. On the night of 9 May 2010, as EU finance ministers were still negotiating, Epstein emailed Mandelson, who replied that the deal was 'almost complete' and would be announced that night. The UK, which does not use the euro, did not contribute to the bailout, but then-Chancellor Alistair Darling was present at the talks.
Prime Minister Keir Starmer has asked the police to investigate whether Mandelson's alleged leaks contained market-sensitive information. The pound experienced significant volatility around the time of Brown's resignation, rising then falling on the day of the announcement. While there is no evidence of trading based on the leaks, the revelations have caused political outrage.
Mandelson resigned from the House of Lords on Tuesday. Streeting's decision to remove his photos from the department is seen as a symbolic move to distance the government from the scandal. The Metropolitan Police are reviewing the allegations.
