Peter Mandelson to Vidhya Alakeson WhatsApp, 1–4 July 2025
Mandelson: Hi hope you are well and are coping with everything. I am flying back to Washington later today but if you have a moment to talk on phone that would be good. Let me Know.
[call]
Mandelson: I do have an idea for economic adviser. Older, sage, nice, discreet. [REDACTED – THIRD PARTY] … He was director of university’s think tank. Now a fellow at [REDACTED – THIRD PARTY]. He is friend and I will have a chat to get his take on things without saying why. Ok?
Alakeson: Sure thank you. Minouche Shafik was suggested earlier. Thoughts?
Mandelson: [REDACTED – THIRD PARTY]
Alakeson: Wise thanks.
Mandelson: You also want to avoid this being a public thing. Needs to be quieter. Otherwise becomes an expression of lack of confidence in the Treasury.
Alakeson: [REDACTED – THIRD PARTY]? Then I will stop
Mandelson: I can’t place him. Where is he?
Alakeson: [REDACTED – THIRD PARTY] … Experience: [REDACTED] (– linkedin.com)
Mandelson: Good god no. This is the sort of person Rachel has at the Treasury now. Keir needs someone with greater authority and detachment with real lived experience.
Mandelson: You want someone with the weight and authority to be respected but not the profile to excite jealousy or resentment.
Alakeson: Yes that is right. Those ppl are proving hard to find in this space.
Mandelson: I strongly suggest Keir meets [REDACTED – THIRD PARTY]. He is sage and experienced as well as having an academic discipline.
Alakeson: Would we couple him with a more junior Spad to do some of the more political stuff?
Mandelson: Yes a pointman/woman good idea. Someone would be a good ‘hinge’ with the official system.
Mandelson: I don’t know [REDACTED – THIRD PARTY] but a major hedge fund sympathiser tell me he used to be UBS main U.K. economist and now at [REDACTED – THIRD PARTY] which is independent research boutique just focussed on U.K. I am told he is not a political animal but would give great advice and be robust. He also has best model of U.K. economy and would be ideal (quietly) second guessing OBR. He is person my friend relies on for U.K. analysis. Whoever advises needs to be credible with capital markets. Another name touted is [REDACTED – THIRD PARTY] but I would not commend.
Alakeson: We arguably might need more than I and some who can steady the nerves of the capital markets and interpret its movements credibly for Keir would be incredibly helpful.
Alakeson: Everyone keeps recommending [REDACTED – THIRD PARTY] to me but I am not convinced, if I am honest. Too much of a front person as well I think. We need behind the scenes ppl.
Mandelson: [REDACTED – THIRD PARTY] I don’t think you want show, you want quiet depth and judgement, not a networker. Someone who Kier can talk to and trust and not someone who will ‘campaign’ inside the government.
Mandelson: Yes I think you can use more than one. But careful. You don’t want to appear to be creating shadow Treasury. Everyone will immediately assume tension and this will worry markets.
Shafik got the job…
Former leader of the SNP in Westminster Ian Blackford told Times Radio why he believes Nicola Sturgeon’s claim that she spent no time in the kitchen and therefore didn’t see any of her husband’s purchases:
“She doesn’t have a passion for cooking.”