Central Suffolk and North Ipswich parliamentary candidate Kevin Craig has been administratively suspended by Labour.

This comes after it was revealed to the party that the Gambling Commission has launched an investigation into Mr Craig.

A party spokeswoman said after being contacted by the Gambling Commission the party acted "immediately" to administratively suspend him pending investigation.

A Labour Party spokeswoman said: “With 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.”

Mr Craig was selected as Labour's candidate to contest the Central Suffolk and North Ipswich seat several months ago, before Dr Dan Poulter said he was defecting from the Conservatives and stepping down at the next general election - which will take place on Thursday, July 4.

Mr Craig admitted placing a bet in a statement which said: “Throughout my life I have enjoyed the odd bet for fun whether on politics or horses.

"A few weeks ago when I thought I would never win this seat, I put a bet on the Tories to win here with the intention of giving any winnings to local charities.

“While I did not place this bet with any prior knowledge of the outcome, this was a huge mistake, for which I apologise unreservedly.

“I have so much respect for how Keir Starmer has changed the Labour Party and I have been fighting so hard to win this seat and change the country alongside him.

“However, it is right that the party upholds the highest standards for its Parliamentary candidates – just as the public expects the highest standards from any party hoping to serve in government.

“I deeply regret what I have done and will take the consequences of this stupid error of judgment on the chin.

"I am deeply sorry to the many dedicated and loyal local Labour Party volunteers who have been supporting my campaign. I will comply fully with the investigation.”

It has been reported by the BBC that Labour will return the £100,000 donation Mr Craig had previously made to the party.

Mr Craig's suspension comes as Conservative candidates across the country have had their party's support withdrawn after it emerged they were also being investigated by the Gambling Commission.

Those allegations relate to bets placed regarding the timing of the election.

The Gambling Commission, the police and the Conservative Party are all understood to be looking into claims that several figures with links to the Tories or Number 10 placed bets on the date of the general election shortly before Prime Minister Rishi Sunak announced his plans last month.

Those include Mr Sunak’s former parliamentary aide Craig Williams, who has already admitted to having “a flutter” on the election date in what he told the BBC was a “huge error of judgment”.