Political judgement matters to markets as much as it does to voters. As fresh revelations from the Epstein files trigger police interest and intensify scrutiny of Peter Mandelson’s role in public office, the controversy is fast becoming a wider test of Labour’s credibility in government.
In this exclusive commentary for Business Matters, former Downing Street strategist Alastair Campbell reflects on how a story once seen as historical embarrassment has evolved into a live political risk, and why the consequences for Keir Starmer’s leadership could be profound.
Fresh revelations linking Peter Mandelson to Jeffrey Epstein have escalated rapidly from a troubling disclosure into a full-blown political crisis for the Labour government, raising urgent questions about judgement, accountability and leadership at the top of British politics.
In the days since the latest tranche of Epstein files was published, two issues have come to dominate the debate in the UK: whether Mandelson could face criminal investigation for misconduct in public office, and whether Keir Starmer can weather the political fallout from appointing him as Britain’s ambassador to the United States, despite his known association with the convicted paedophile.
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