Peter Mandelson has announced his resignation following the scandal surrounding a £373,000 home loan he accepted from the Paymaster General, Geoffrey Robinson. The Trade and Industry Secretary will be succeeded by Stephen Byers, chief secretary to the Treasury it was announced by Downing Street at 12:30pm today.
It is expected that Geoffrey Robinson will issue a statement later this afternoon. The loan which Robinson provided was used to buy and furnish Peter Mandelson’s Notting Hill home, but was not declared to officials at the Department of Trade and Industry.
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