A Labour candidate has been suspended by the party after betting against himself – with the Gambling Commission launching an investigation into him.

Kevin Craig is running to become the MP for Central Suffolk and North Ipswich – a safe Conservative seat previously held by ex-Tory Dan Poulter, who defected to Labour ahead of the election and is not standing again.

Sky News’ chief political correspondent Jon Craig understands the bet was relating to the outcome of the vote in his constituency – and the candidate had actually been betting he would lose the contest.

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Labour confirmed Kevin Craig had been suspended by the party – though at this late stage, he will still appear on the ballot paper with “Labour” next to his name.

It is also understood that the party will return £100,000 in donations to the businessman that he has made since Sir Keir Starmer took over Labour.

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A spokesperson said: “With [Sir] Keir Starmer as leader, the Labour Party upholds the highest standards for our parliamentary candidates, as the public rightly expects from any party hoping to serve, which is why we have acted immediately in this case.”

Sky News has contacted Mr Craig for comment.

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The incident comes after two Conservative candidates were suspended by their party for allegedly placing bets on when the election date would be.

Those allegations first emerged almost two weeks ago, with Prime Minister Rishi Sunak saying he would wait for the outcome of the Gambling Commission’s inquiry before acting.

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However, in a U-turn announced this morning, both candidates have now been suspended – though again the Conservative Party name will still appear on ballot papers.

Two Tory party officials and an officer from Mr Sunak’s close protection team are also being investigated by the Gambling Commission over the placing of bets on the timing of the election.

Mr Craig is the founder and chief executive of marketing and PR agency PLMR, with the company’s website describing him as “an expert in political communications, crisis management, and corporate communications”.

He also served as a Labour councillor for 17 years in London.

A full list of the candidates running for Central Suffolk and North Ipswich is below:

Charlie Caiger, independent;
Tony Gould, Reform UK;
Mike Hallatt, independent;
Brett Alistair Mickelburgh, Lib Dems;
Dan Pratt, Greens;
Patrick Spencer, Conservatives.

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