Peter Mandelson has been part of the inner circle of Britain’s Labour establishment for decades. A close ally of Tony Blair, he was «New Labour» long before the term even existed. His career has included several cabinet posts under Blair and Gordon Brown, a term as EU Trade Commissioner, a seat in the House of Lords, and most recently the position of Britain’s ambassador to the United States.

Over the course of his political life, Mandelson has survived more than one scandal that would have ended the careers of most other politicians. However, the revelations now emerging from the published emails between him and Jeffrey Epstein may finally bring his career to an end — and even a criminal investigation is being considered.

Information from Government Circles

The latest disclosures from the Epstein files appear to show that Mandelson passed a series of emails containing confidential information from government circles to the now-deceased sex offender. The correspondence dates back to Mandelson’s time as business secretary under Gordon Brown and relates to planned measures to address the global financial crisis.

Among the emails and documents forwarded to Epstein from the highest levels of the British government were plans for the sale of state assets worth 20 billion dollar, details of an imminent eurozone bailout one day before its official announcement in 2010, and information about the impending resignation of Gordon Brown.

Another key issue concerns the Brown government’s plans to restrict bankers’ bonuses. Mandelson assured Epstein that he was «doing everything he could» to change the government’s policy on bonuses. «I am trying very hard to get a change, as I explained to Jes last night. The Treasury is resisting, but I am sticking at it,» he wrote.

«Mild Threat» to the Chancellor

Two days later, Epstein asked whether Jamie Dimon of JPMorgan should call the chancellor of the exchequer, Alistair Darling. In his reply, Mandelson suggested that Dimon should «mildly threaten» the finance minister.

BBC economics editor Faisal Islam said he had learned from conversations with the late former chancellor that Darling and Dimon — along with other senior bankers — subsequently spoke by phone in an attempt to influence him over the new bonus restrictions. The pressure was reportedly exerted through references to the role of US banks as buyers of British government bonds, as well as their investment plans in London.

Lord Mandelson has stated that at the time «all British and international banks were making the same arguments about the impact on UK financial services.» The correspondence, he said, reflected «the views of the entire sector, not those of any one individual.»

Further documents from the Epstein files point to payments made by Epstein to Mandelson himself, as well as to his former partner and now husband. In an interview, Mandelson claimed he had no recollection of these transactions.

Pressure Mounts on the Prime Minister

Mandelson had already stepped down from his post as ambassador to the United States in December. Last Sunday, he also resigned from the Labour Party.

The affair is now putting pressure on Prime Minister Keir Starmer as well. Critics argue that he showed poor judgement in appointing Mandelson as Britain’s envoy to Washington, sending him to the US capital to represent the UK to then newly elected president Donald Trump.

The case has also reignited debate in Britain over why it remains so difficult to discipline life peers — and to remove them from the House of Lords in cases of serious misconduct.