Michelle Mone is set to take a leave of absence from the House of Lords with immediate effect.
The Scottish peer, from Glasgow's east end, is at the centre of controversy over her alleged links to a firm awarded a PPE contract following allegations she benefitted from government Covid contracts.
A spokesman for Tory peer Baroness Mone said: "With immediate effect, Baroness Mone will be taking a leave of absence from the House of Lords in order to clear her name of the allegations that have been unjustly levelled against her."
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The leave of absence means Lady Mone will not attend sittings of the House, vote on any proceedings and will not be able to claim any allowance.
Mone's statement comes as the Labour Party attempts to try to force the Government to release records of a £200 million contract awarded to PPE Medpro which the Glasgow-born entrepreneur may have profited from, according to reports.
Lady Mone has previously denied having any relation to the company.
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