Lord Mandelson is to quit the House of Lords amid allegations he passed market-sensitive information to paedophile financier Jeffrey Epstein.
Keir Starmer had threatened legislation within weeks to strip Lord Mandelson of his title while the police are assessing information relating to alleged misconduct in public office.
The Cabinet Office has passed material to the police after an initial review of documents released as part of the so-called Epstein files found they contained “likely market-sensitive information” and official handling safeguards had been “compromised”.
The Lord Speaker announced that Lord Mandelson is to step down in the upper chamber.
It came after the British Prime Minister told his Cabinet that the alleged transmission of highly-sensitive government business to Epstein was “disgraceful” and Lord Mandelson had “let his country down”.