Mandelson goes to Lords amid new controversy
Nicholas Watt
The Guardian,
Monday October 13 2008
Peter Mandelson will take his seat in the House of Lords today, but his
return to British politics has been marked by fresh controversy
concerning his connections and personal finances from his four years as
the European trade commissioner.
Lord Falconer of Thoroton and Baroness Jay of Paddington will introduce
Mandelson today. The new business secretary has decided to style
himself Baron Mandelson of Foy and Hartlepool. Foy is a village in
Herefordshire where he spent holidays as a child, and he was the MP for
Hartlepool between 1992 and 2004.
Mandelson was the centre of renewed media attention yesterday. The
Sunday Times reported that he attended a reception on a 238ft yacht,
Queen K, in Corfu this summer hosted by the Russian billionaire Oleg
Deripaska, who is a major importer of aluminium into the EU.
Mandelson’s presence on the yacht was questioned because he reduced
tariffs on aluminium imports into the EU from 6% to 3%.
Mandelson’s spokesman said: "The idea that one individual played a
decisive role is ludicrous. This was a hard-fought battle between
different member states."
The spokesman added that he could not have shown favouritism because he
launched an anti-dumping investigation into aluminium imports from
Armenia. As the main exporter from Armenia, Deripaska would face high
EU taxes if the investigation finds against him.
Mandelson also denied that he was profiteering from the EU. He will be
entitled to around £78,000 a year for the next three years in
"transitional payments". When he reaches 65 he will then be entitled to
a pension of £31,000 at today’s prices.
His spokesman said: "He is not aware of his entitlement."