Lord Mandelson betrayed an international secret over £400billion bailout, says Nigel Farage

This is Mandelson to Epstein, telling him: 'Should be announced tonight.'

He's talking there about a €500billion [£400billion] bailout of the eurozone at the depths of the crisis.

Let me tell you something: the bond spreads at that time were extremely volatile.

The news of this bailout had a massive, massive impact on the markets.

There was Mandelson betraying a secret not even a national secret, an international secret, because it was at EU level and giving it to Epstein, somebody who made a living trading financial markets, amongst other things.

The other one that surprised me was him telling a quote Mandelson said about the Prime Minister, Gordon Brown, including the underground walk from No10 to the Ministry of Defence for secret late-night talks with the Lib Dems.

That is, it seems to be, the tunnels under Downing Street linked to other Government departments.

Tunnels that were built in Churchill's time are matters of national security.

Surely Peter Mandelson must have signed the Official Secrets Act as a Cabinet minister?

We'll get Reynolds' take on that in just a minute. And I wonder whether that's a breach of national security either way.

Either way, Lord Forsyth, the new Lord Speaker, said this in the House earlier on today: "Given the public interest and for the convenience of the House, I decided to inform the House.

"The Clerk of the Parliaments has today received notification from Lord Mandelson of his intention to retire from the House, effective from February 4.

"I will formally notify this to the House tomorrow in the usual way."

So, he's resigned from the House of Lords, but he remains Lord Mandelson.