Mandelson, money - and the risk to the prime minister

Mandelson, money - and the risk to the prime minister

Author: Financial Times February 6, 2026 Duration: 34:16

Fresh revelations about Peter Mandelson’s relationship with the convicted sex offender Jeffrey Epstein have sparked a political explosion in Westminster, reopening questions about Keir Starmer’s decision to return him to the heart of public life. Mandelson, the former UK ambassador to Washington, has resigned from the House of Lords and from the Labour Party, while a criminal investigation has been launched into allegations that he shared sensitive information with Epstein during his time as business secretary under Gordon Brown.


Starmer has apologised for appointing Mandelson and pledged to publish the files relating to his vetting for the ambassadorship, but with pressure growing on his leadership, how can the prime minister and the Labour Party hope to move on?


Host Lucy Fisher is joined by Jim Pickard, Stephen Bush and Ashley Armstrong to discuss the fallout.


Follow the panel on Bluesky - Lucy @lucyfisher.ft.com; Jim @pickardje.bsky.social; and Stephen @stephenkb.bsky.social  


Want more? Free links:   


Keir Starmer apologises to victims of Jeffrey Epstein 


Pressure grows on Keir Starmer’s chief of staff over Peter Mandelson ambassador appointment


Every doomed prime minister has a moment – this is Starmer’s


Mandelson and the money that never sleeps


Peter Mandelson leaked sensitive UK government tax plans to Jeffrey Epstein 


George Parker’s interview from 2025 – Peter Mandelson’s back: The Prince of Darkness returns 


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Presented by Lucy Fisher, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s global head of audio is Cheryl Brumley.


What did you think of this episode? Let us know at politicalfix@ft.com


Read a transcript of this episode on FT.com


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Every Friday, the team behind Political Fix gathers to make sense of the week's political turbulence. This isn't just a recap of headlines; it's a deep, often lively conversation that pulls back the curtain on how decisions are really made in Westminster and beyond. You'll hear from the Financial Times journalists who are actually there, in the corridors and committee rooms, paired with expert voices who provide crucial context. Together, they untangle complex policy debates, analyse the shifting alliances, and question the strategies defining Britain's future. The result is a clear-eyed, authoritative look at the forces shaping the nation, delivered with the FT's signature rigor and insight. Tuning into this podcast feels like gaining access to a private briefing, one that prioritizes substance over noise. It’s for anyone who wants to move past the soundbites and understand the real stories and personalities driving the political agenda. New episodes arrive weekly, offering a consistent and essential perspective on a landscape that never stops moving.
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