Mandelson Emails Reveal Discussions on Bankers' Bonus Tax with Epstein
Newly disclosed emails from the US Department of Justice appear to show that Lord Peter Mandelson, the former business secretary, told disgraced financier Jeffrey Epstein he was "trying hard" to change policy on bankers' bonuses in 2009. This followed the Gordon Brown government's introduction of a so-called "super tax" to clamp down on large bonuses in the wake of the financial crisis.
Email Exchange Details Lobbying Efforts
An email dated December 15, 2009, seemingly from Epstein, reads: "any real chance of making the tax only on the cash portion of the bankers bonus." The reply, apparently from Lord Mandelson, states: "Trying hard to amend as I explained to Jes last night. Treasury digging in but I am on case." This suggests the peer, then serving as business secretary, was prepared to lobby the government over the tax introduced by then-chancellor Alistair Darling.
Mandelson's Response and Financial Revelations
Lord Mandelson told the Press Association that his conversations in government at the time reflected the views of the financial sector as a whole, not a single individual. He also addressed revelations of payments from Epstein, totalling 75,000 US dollars, made when he was a Labour MP. Bank statements show payments in 2003 and 2004, including one to an account in the name of his now-husband, Reinaldo Avila da Silva. Lord Mandelson stated he has no record or recollection of receiving these sums and cannot confirm the documents' authenticity.
Further Disclosures and Photographs
Other disclosures from the Epstein files include undated photographs appearing to show Lord Mandelson in his pants and a T-shirt alongside a woman whose face is hidden. The peer told the BBC he cannot place the location or the woman and does not recall the circumstances. Additionally, the files indicate Mr da Silva received transfers from Epstein to pay for a fee to attend the British School of Osteopathy.
Political Fallout and Calls for Accountability
Lord Mandelson was sacked as US ambassador last year due to his links with Epstein, following the financier's guilty plea in 2008. Communities Secretary Steve Reed, when asked if Lord Mandelson should be stripped of his peerage, emphasised the need to understand the full details of events from nearly 20 years ago. He noted that declaration rules were in place at the time and called for Lord Mandelson to explain whether the payments were properly declared.
Lord Mandelson has expressed regret over his association with Epstein, apologising unequivocally to the women and girls who suffered. He stated: "I was wrong to believe Epstein and swallow his lies following his conviction and to continue my association with him afterwards." It is important to note that being pictured or mentioned in the Epstein files is not an indicator of any wrongdoing.
