Peter Mandelson is set to step down as a member of the House of Lords following the latest revelations about his relationship with the paedophile financier Jeffrey Epstein.
The New Labour grandee was awarded a life peerage in 2008, but had been on a leave of absence from 31 January last year following his appointment as UK ambassador to Washington - a post from which he was sacked in September after more details about his links to Epstein emerged.
The announcement comes after Downing Street piled pressure on the disgraced former ambassador to Washington to resign and stop using his title.
Earlier, the government said they had referred to the police an assessment of how Lord Mandelson handled sensitive government information while he was a minister.
That came after emails appeared to show conversations between Mandelson and Epstein about government and political matters while the former was serving as business secretary and the de-facto deputy prime in Gordon Brown's government.
An initial review by the Cabinet Office of documents released by the US Department of Justice has found that emails sent by Lord Mandelson to the paedophile financier Epstein likely contain market sensitive information relating to the 2008 financial crash and official activities thereafter to stabilise the economy.
The Metropolitan Police yesterday said it was aware of the latest release of files related to Epstein and confirmed it had received "a number of reports relating to alleged misconduct in a public office".
Yesterday, Ella Marriott, Commander of the Met, said: "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."
The Metropolitan Police also confirmed it had received a report from the government earlier today.