'Shame and embarrassment!' Ex-Labour adviser tears into Keir Starmer over 'extraordinary' Peter Mandelson scandal

Downing Street has confirmed officials are "drafting legislation" that would allow Lord Mandelson to be removed as a peer "as quickly as possible".

Sir Keir Starmer is said to have told the Cabinet any passing on of highly sensitive Government information was "disgraceful", adding he was "not reassured that the totality of the information has yet emerged", in light of the latest release of Epstein files.

The Epstein files allege that Mandelson gave Epstein an advance notice of a €500billion bailout from the EU to save the Euro. Emails also are alleged to have mentioned a tax on banker's bonuses in this country.

Discussing the latest release of Epstein files on GB News, Mr Richards said: "I think uncomfortable is an incredibly weak way to describe what's going on. It's a matter of enormous concern shame, and embarrassment.

"And obviously the terrible pictures of Peter Mandelson in his underpants is one thing, but this allegation of leaking confidential, market sensitive information to a billionaire abroad whilst a serving minister is what's causing the disquiet here at Westminster."

He made clear: "The reason why that's so important is because, of course, if it had been acted upon, then it could have benefited somebody, so it was insider trading, really.

"That's why Keir Starmer has organised an inquiry into this to find out exactly what was going on back in the Government in 2009."

Criticising Lord Mandelson's claim that he has "no recollection" of receiving money from Epstein, Mr Richards said: "There are plenty of people who were sitting around the table at the time who will have recollections of this, and we do need to get to the bottom of it.

"I'm afraid Peter Mandelson saying 'I don't remember receiving the money' does not cut it."

Arguing that Lord Mandelson may "not have even been appointed" if these revelations were made back in 2009, Mr Richards told GB News: "Knowing now what we know, if we'd known it then, I don't think he would have been appointed.

"The information has come to light subsequently after the appointment, and once the information came out, the Prime Minister did sack him as ambassador. It was quite a big move, a big statement to say this is unacceptable."

Outlining "two things" that need to happen with Lord Mandelson in light of the revelations, the ex-Labour adviser said: "I think Peter Mandelson himself has to resign his own peerage, because I think it's very hard to get somebody out of the House of Lords if they've not been convicted of a crime. And don't forget, he hasn't been convicted of a crime and he's denying all wrongdoing.

"So I think he himself just has to do the humble, honourable thing now and resign as a member of the House of Lords. He doesn't sit in the Lords at the moment, he had to take a leave of absence in order to be an ambassador, but I think that would be an important stage."

He continued: "And the next thing is for this inquiry to get on with it and to refer anything to the police that needs to be referred to the police. If there's been a crime committed, that needs to be prosecuted, and we need to get on with the transparency, because sunlight is the best disinfectant and all of that.

"I think it's just important we get all of this out in the open, it's a matter of enormous shame. I think it was Enoch Powell who said all political careers end in failure, this one is just ending in shame and embarrassment. And it does have quite a lot of resonance with the Profumo affair, which absolutely rocked the heart of the Government in not dissimilar situation."

Lord Mandelson has previously said of his relations with Epstein: "I relied on assurances of his innocence that turned out later to be horrendously false.

"His lawyers claimed that it was a shakedown of him, a criminal conspiracy. I foolishly relied on their word, which I regret to this day."

In a statement, Scotland Yard Commander Ella Marriott said: "We are aware of the further release of millions of court documents in relation to Jeffrey Epstein by the United States Department of Justice.

"Following this release and subsequent media reporting, the Met has received a number of reports relating to alleged misconduct in a public office.

"The reports will all be reviewed to determine if they meet the criminal threshold for investigation. As with any matter, if new and relevant information is brought to our attention we will assess it, and investigate as appropriate."