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Political Currency

Political Currency

Persephonica 284 episodes Nov 9, 2026

Ed Balls and George Osborne, former Chancellor and shadow chancellor, take listeners behind closed doors to discuss the decisions that affect the nation's pockets. They explain how good politics follows economics and expose how the powerful become powerless when faced with market forces and political currents. The podcast releases new episodes every Thursday and is a Persephonica production.

Episodes

EMQs: Regrets, leaks and data centres
EMQs: Regrets, leaks and data centres Nov 9, 2026 43:07 Ed Balls and George Osborne hear from former BBC political editor Laura Kuenssberg, who asks them to reflect on their biggest regrets in politics. It turns out that both have the same issue that nags at them after all of these years.An expat in Germany wonders why debates around Freedom of Movement in the UK focuses so much on immigration rather than on emigration. Ed and George discuss whether it
Could the midterms be bad news for Burnham?
Could the midterms be bad news for Burnham? Nov 5, 2026 1:05:22 The midterms were an enormous rejection of Donald Trump’s Republicans – but what are the lessons to be learned, in the US and closer to home? Ed Balls and George Osborne unpack the implications of the ‘blue tsunami’, asking whether analysis that pins it entirely on the cost of living and Iran are too narrow. They also question whether they represent an opportunity or a threat for Andy Burnham. A w
EMQs: Will Burnham return to free movement?
EMQs: Will Burnham return to free movement? Nov 2, 2026 41:08 Sunday Times political editor Ben Riley-Smith asks Ed Balls and George Osborne a question on this week’s EMQs, off the back of his Andy Burnham profile interview. Can the prime minister win the argument on free movement, either at a referendum or General Election? The pair are sceptical, conceding it could be done but pose massive risks to the Labour coalition.Then, the hymns chat inspires a flurr
Will Burnham risk it all on an early election?
Will Burnham risk it all on an early election? Oct 29, 2026 1:01:26 The Budget is over, and John Healey may want you to forget about it already. That’s what Ed Balls and George Osborne debate on this week’s episode, where they interrogate whether this Budget was biding time until an election or a sign that the Burnham government is even more hemmed in than previously thought. Will they go early and risk losing their majority? Or are they going to whittle through w
HOT TAKE: Was Healey’s Budget inconsequential?
HOT TAKE: Was Healey’s Budget inconsequential? Oct 28, 2026 32:28 Ed and George went live this afternoon to give their Hot Take on John Healey’s Budget. They concluded the new chancellor was comfortable in his style, but the substance was not there.George declares it an inconsequential Budget, and wonders if Healey’s plan is to do nothing. Ed speculates if this looks like a pre-election Budget.We love hearing from you, so please don’t forget to send all your EMQ
EMQs: Are the Tories against welfare cuts?
EMQs: Are the Tories against welfare cuts? Oct 26, 2026 46:50 After the great response to Ed Balls’ scepticism on Burnham trying to rejoin the EU, former Labour MP Gloria De Piero got in touch. She asks Ed and George Osborne just how they would make the case for rejoining, to their former constituents. With Gloria’s seat now held by Lee Anderson, it’s clear that the case in some leave voting areas will be a hard one to make…Then, Times writer and former Spec
Will Healey’s budget burst the Burnham bubble?
Will Healey’s budget burst the Burnham bubble? Oct 22, 2026 1:02:49 The Budget is less than a week away, and the pressure is on for Andy Burnham and John Healey to deliver. Ed Balls and George Osborne debate whether the right moves are being taken for the new chancellor’s first budget, or if the bold rhetoric from the PM will not be matched by what is set to be a small Budget. George is in Paris this week, days after the media was dominated by scenes of rioting ac
EMQs: Who Lifts Heavier, Ed or George?
EMQs: Who Lifts Heavier, Ed or George? Oct 19, 2026 41:22 Author Philip Delves Broughton asks Ed Balls and George Osborne whether Britain could survive an energy shock like the 1973–74 oil crisis, which ended with a three-day week and the fall of the Heath government. George warns of voters blaming the government while Ed argues that the real danger, like in the ‘70s, is the energy shock landing alongside other collapsing post-war assumptions.They then d
Does Burnham have a foot in mouth problem?
Does Burnham have a foot in mouth problem? Oct 15, 2026 1:05:33 International politics can disrupt the best laid plans of any government, and this week was no different. Ed Balls and George Osborne delve into a week that has been dominated by the war in Ukraine, and how Andy Burnham has chosen to navigate it. Donald Trump has made a deal with Russia on diesel, which Zelenskyy said was a betrayal. Burnham has to walk a careful line to side with Ukraine, but not
EMQs: The truth about government war gaming
EMQs: The truth about government war gaming Oct 12, 2026 42:59 Money saving expert Martin Lewis sends in a question for Ed Balls and George Osborne this week, all about the tiny fixes. He tasks the pair with contributing to his new Small Ideas Initiative, proposing their own solutions to the most annoying problems in Britain. Ed goes for football tickets, while George hits on driving tests.They then turn to a former FT colleague of Ed’s, who asks whether the
Have Burnham & Badenoch restored two-party politics?
Have Burnham & Badenoch restored two-party politics? Oct 8, 2026 1:09:29 Party conference season is over, and it went out with a bang. The Greens have been engulfed by controversy over Zionism, and the Tories have been repositioning as the leading party on the right. Ed Balls and George Osborne delve into what the troubles for the Greens means for Labour, who now couldn’t do a deal in the event of a hung parliament. George argues the Greens are now diminished post-Star
EMQs: Should John Healey recruit ex-chancellors?
EMQs: Should John Healey recruit ex-chancellors? Oct 5, 2026 39:27 A questioner from Instagram takes Ed Balls and George Osborne back 20 years in this week’s EMQs, reminiscing on fringe events at party conferences that drew no audience. They reflect on how to handle hosting a sparsely attended event, and the awkwardness George got into when asked a question about his childhood.Natalie Livingstone, author of the new book The Nuremberg Women, then asks how we can e

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