Political Currency
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
Will Burnham’s radical reshuffle work?
A new dawn has broken, with the Andy Burnham premiership finally beginning. Ed Balls and George Osborne dive deep into the packed first week of PM Burnham, from his first words at Downing Street, to his massive reshuffle, and initial policy announcements. Is he being too ambitious out of the gate? Can he do politics differently? Will this really be a circuit breaker for Britain?The big surprise of
EMQs: Why don’t politicians apologise?
This week, Ed Balls and George Osborne hear from a current and former Member of Parliament. Former Tory minister Greg Clark asks if Andy Burnham’s pledge for ‘devolution in every postcode’ is attainable, while Starmer loyalist John Slinger puts forward his proposals for a ‘youth triple lock’ to improve prospects for young people in the UK. Should there be guarantees on above-inflation maintenance
How Ann Widdecombe’s killing has reshaped British politics
The shocking killing of Ann Widdecombe has set a sombre tone in British politics in the last week. Ed Balls and George Osborne delve into the political implications of this tragedy, examining the changing police messaging and debating what the solution for protecting politicians should be. They also share memories of Widdecombe, who they both worked with throughout the years. ‘The King of Nor
EMQs: Why no one will end the triple lock
Hot off Centrist Dad’s sellout show last week, two listeners at the gig have sent in questions. Our Kitchen Cabinet winner, Douglas Law, asks a question on the mind of every junior Labour MP right now: will Burnham promote them? Ed Balls and George Osborne explain what ministers must do to secure a promotion in government, and what Burnham will look for.Then, they answer a question that has
Is Reform unravelling?
The Nigel Farage donation scandal reached a breaking point on Tuesday when he took the extreme step of triggering his own by-election. But was this a shrewd move or has it backfired? Ed Balls and George Osborne examine the risks to Reform, how Kemi Badenoch may use it to her advantage, and whether Count Binface could really be Clacton’s next MP. While some see Farage as future PM, the next ma
EMQs: Are holiday taxes a threat to tourism?
The proposed holiday tax from the King’s speech is a subject of controversy in the hospitality sector, and on this week’s EMQs Ed Balls and George Osborne speak to these concerns. Does this drive away tourism? Or, can they follow in the footsteps of other European cities and help inject funding into these destinations through the extra cashflow?Then, they delve into the lack of employment rights f
The two major challenges facing Andy Burnham
Andy Burnham is now prime minister-in-waiting and is laying out his vision for Britain. On Monday he outlined his approach to the economy, but is his vision any different to Keir Starmer’s? Ed Balls and George Osborne worry the speech lacks a theory of change, and sets him up for the same troubles Starmer faced. George puts forward the two key challenges Burnham will face: defence and communicatio
EMQs: The reshuffle dilemma facing Andy Burnham
Should Andy Burnham appoint an entirely new Cabinet or resist the temptation for a full reshuffle? Ed Balls and George Osborne discuss whether constant ministerial churn is a hindrance to effective government, and who the new Prime Minister should keep in post to provide stability.They also revisit one of the biggest political "what ifs" of the year. Was Keir Starmer wrong to stop Burnham returnin
The Andy Burnham we know
The pathway from Makerfield to Downing Street seems inevitable. Andy Burnham was sworn in to Parliament hours after Keir Starmer resigned and now seems set to be crowned as prime minister next month. But who is he? Ed Balls and George Osborne have known him for over 25 years, and speak to how the man they know will govern once he enters No. 10. How will his style as a footballer be reflected in hi
HOT TAKE: Starmer resigns, what comes next?
After Keir Starmer delivered his resignation speech this morning, Ed Balls and George Osborne reflect on what comes next for the government, for the country, and for the outgoing Prime Minister. Was Starmer’s ‘clinical’ address a sign of a weak legacy and further inability to communicate his successes? The pair argue the performance was lacking in both emotion, and in recognition for the work of h
EMQs: Keir Starmer’s problem with ministers
Al Carns revealed in the wake of his resignation he only met Keir Starmer in an official capacity once. On this week’s EMQs, Ed Balls and George Osborne break down how unusual this is for a PM and why it may explain the problem at the heart of the Starmer operation. Baroness Jan Royall, Chair of the Jo Cox Foundation asks what lessons have been learned in the decade since her tragic murder an
How’s Britain and George Osborne, 10 years on from Brexit?
Keir Starmer’s legacy is on the line, no matter who wins in Makerfield. A flurry of announcements from social media bans to the defence strategy have seen the PM attempt to recentre himself in the narrative as his greatest rival comes closer and closer to re-entering Westminster. This week, Ed Balls and George Osborne delve into what it means for Labour, whether Wes Streeting is still a contender,
EMQs: Will new laws protect children online?
How effective will new UK laws be at protecting children online? Ed Balls and George Osborne hear a question from Natalie Fleet, the Minister for Safeguarding and Violence Against Women and Girls. They discuss the technology that can help, the importance of legislation keeping pace with risks, and the legal decision that made social media platforms more likely to host misleading content.Plus, why
Is it the final blow for Starmer as Healey resigns?
The shock resignation of defence secretary John Healey has prompted an emergency input from Ed Balls and George Osborne for this week’s episode. They react to why he went, what it means for the government and how defence spending will become a bigger crunch point than it was already.In one week’s time voting will open for the by-election of the century. Will Andy Burnham return to Parliament
EMQs: The best place to be an MP if you're a lover of rhubarb
In this week’s EMQs George Osborne and Ed Balls take on a question from Jeremy Hunt who asks if chancellors are under pressure to push through new reform as soon as they are in office. Ed and George bring their experience to the query. Following the Pope’s letter on the topic of AI, one listener asks for Ed and George’s reaction to the papal intervention. In the Pope’s encyclical
Did Farage go too far or score political points this week?
British politics has been dominated this week by the horrifying murder of student Henry Novak and the political storm that followed the release of police bodycam footage. Ed Balls and George Osborne examine the tragedy, the questions it raises around “two-tier policing” and the political firestorm it has ignited. The pair analyse the contrasting responses from Nigel Farage, Keir Starmer and K
EMQs: Is Makerfield the UK’s presidential election?
Was George Osborne about to abandon David Cameron in the 2005 Tory leadership race? That’s the first question on this week’s EMQs, where George recounts the mistakes made by the David Davis campaign that allowed Cameron to ascend. Ed Balls shares similar mistakes of David Miliband’s 2010 campaign, and the pair offer their own advice to all backbench MPs assessing the current Labour leadershi
Is Tony Blair the Logan Roy of Britain?
The battle for Makerfield is on, so this week Ed Balls and George Osborne dig into this consequential by-election’s frontrunners. Andy Burnham is radical in tone, but are his policies more conservative when you dig in? Reform’s Robert Kenyon has lost his shine as sexist and remain leaning views have been dug up but a spokesperson for the party said they "fully back" him and added that the "comment
EMQs: Should retired politicians go on Question Time?
Following Green MP Hannah Spencer’s comments on drinking culture at Westminster, Ed Balls and George Osborne answer whether MPs should be better behaved in general during Parliamentary sessions. They make the case for heckling and jeering, comparing it to more civilised Parliaments and systems to explain how it helps hold our leaders accountable. They then reflect on their experience on Quest
Burnham, Streeting, and Rayner’s race to No. 10
British politics has moved at a rapid pace the last week, with Andy Burnham securing his root to parliament, Wes Streeting reigniting Brexit debates, and a defiant No. 10 fighting on through all of it. Ed Balls and George Osborne examine the leadership race, the manoeuvres being made by Streeting to court the Labour faithful and how Burnham is having to campaign on two fronts. Why is the cabinet s
EMQs: Should we vote on weekends?
Last week’s local elections saw votes counted during the Friday to save costs, and inspired one listener to ask Ed Balls and George Osborne why that isn’t always the case. He also wondered why we don’t vote at weekends like other European countries. The pair explain the historical roots of the tradition and the benefits of weekday votes and overnight counts for general elections. Plus they r
Who should be the next prime minister?
Wes Streeting’s resignation is the latest domino to fall amid the threat to Keir Starmer’s premiership, in a chain reaction that could lead to months of chaos. Ed Balls and George Osborne evaluate where the government and Keir Starmer can go from here. Should he resign? And how would Andy Burnham, Angela Rayner, Ed Miliband, and the wildcard option of Al Carns, fare against him in a leadership con
HOT TAKE: Is it over for Starmer?
The fallout of the local elections was as many had predicted, but the chaotic aftermath demanded a reaction. Ed Balls and George Osborne went live on YouTube earlier today to give their thoughts on just how bad things are for Keir Starmer.They reflect on the heavy defeat Labour suffered on Thursday, and the prime minister’s fightback. Why did he bring back Gordon Brown and Harriet Harman? Why did
EMQs: Is politics like snooker?
Fresh off his trip to the Crucible to see the snooker, Ed Balls brings a question for him and George Osborne to answer on just how similar politics and snooker are. Is it all about the long game? Or do you take the risky shot when the opportunity arises? Are the two even similar? And do Ed and George know enough about the sport to say for certain?Sunday Times columnist Charlotte Ivers then asks wh
Why are Labour so aggressive on the Greens?
It’s polling day, and the tensions have never been higher for Keir Starmer. The threat to his left, with the Greens, or to his right, with Reform, makes this a defining moment of his premiership. Ed Balls and George Osborne take this time to look at the future of the devolved governments, which could all be led by nationalist parties for the first time. Which parties will be willing to work togeth
EMQs: Should MPs drink in parliament?
Before getting into questions this week, Ed Balls and George Osborne take on the big talk around Westminster: should MPs be allowed to drink? They respond to the criticism by new Green MP Hannah Spencer, who said MPs smelling of alcohol while voting made her uneasy. Ed and George offer the pros and cons of this, and even how drinking in parliament getting out of hand may have led to Jeremy Corbyn…
Why no one can 'land a glove' on Farage
A dramatic week in UK politics has seen the successful state visit to the US by King Charles and another hit on Keir Starmer in the ongoing Mandelson scandal. Ed Balls and George Osborne break down all the moving parts of these events. Is the special relationship saved? Did Kemi Badenoch move too early against Starmer? And what does this all mean going into a seismic set of local elections?On said
EMQs: What do the public think of Ed and George?
Off the back of last week’s EMQs, Tamara Finkelstein sends in a correction to the idea that UK schools don’t prepare for attacks like those in the US. She highlights that Jewish schools have to prepare and feel threatened in this current environment. Ed Balls and George Osborne highlight the worrying trend of antisemitism in the UK and the need for public figures to actively combat it.Alders
Is the clock ticking for Keir Starmer?
Another dramatic revelation in the Mandelson scandal has reignited the tensions around Keir Starmer’s leadership and the future of his government. Ed Balls and George Osborne reflect on the latest developments, and look forward to how this will impact the local elections in just two weeks' time. The pair question the sacking of Olly Robbins, assess Kemi Badenoch’s performance at PMQs, and look at
EMQs: Should PMs be youthful or experienced?
Fresh off the back of our latest episodes Ed Balls and George Osborne get an answer to their queries around the curate eggs and a follow up to the Libya crisis series on age in politics. In politics, particularly the Tories, you’re considered young at 40 or 50 while in tech it makes you ancient. Why is this? Youth is often seen as a negative in politics, but is there value to not being weighed dow
Is it risky for the Chancellor to attack Trump?
The Middle East conflict raged on during our Easter break and George Osborne comes back to us with news from Washington and word from friends in high places, like incoming Fed Chair Kevin Warsh. He and Ed Balls discuss the failed peace talks from George’s other mate, JD Vance, and where things go from here. They then weigh in on the UK’s shifting tone towards the Trump administration, and why
What If: George was PM during Covid?
In another special ‘What If’ edition of EMQs George Osborne and Ed Balls consider the would be worlds and outcomes, if just one historical event went another way. In a more theoretical ‘What If’ they consider what would happen if MPs couldn’t abstain and had to vote aye or nay on every bill. Ed believes this could lead to a breakdown in our system, while George thinks it could reprimand a mis
Inside The Room - The Libya Conflict: The Aftermath (Part Three)
How can it be ensured countries will face a better future after a large-scale military intervention? It’s a question which applies to both politicians dealing with the war in Iran today, and for politicians dealing with the aftermath of Muammar Gaddafi’s killing in 2011.In this third and final part of this series, Ed Balls, George Osborne, and Sir John Sawers reflect on the fallout of the 42-year
Inside The Room - The Libya Conflict: The Campaign (Part Two)
Planes are in the air and the military intervention in Libya has now begun. But how does the operation progress from here? And what actually happens in a war room?In the second part of this mini series, Ed Balls and George Osborne ask Sir John Sawers about how MI6 gathered intelligence to guide the path forwards. He tells the story of leaving William Hague "aghast" by securing a visa for the Libya
Inside The Room - The Libya Conflict: The Build Up (Part One)
As renewed violence erupts across the Middle East, governments have been forced into crisis mode... but when is the right time to intervene, how involved should you get and when, if ever, is it time for 'boots on the ground'?It's these dilemmas and more that are currently facing Keir Starmer and other world leaders, but it's not the first time a UK government has had to find answers for such big q
EMQs: Is Wes Streeting a good health secretary?
Fellow ex-MP and former health minister Steve Brine sends in a question asking Ed Balls and George Osborne how we judge the performance of a health secretary, and in particular Wes Streeting. They lay out the historical challenges of the role, and where Streeting has risen or succumbed to them thus far.A colleague of Ed’s from King’s College then asks how useful it is for benefits to be so conditi
What on earth happened to Morgan McSweeney’s phone?
Nearly a month into the war in Iran, and the White House’s objectives are no clearer. Donald Trump is sending conflicting signals - peace overtures in one moment, threats of further escalation in the next. The consequences of this instability is rippling far beyond the Middle East. Ed Balls and George Osborne examine what Trump actually wants, and what his mixed messages might mean for allies
EMQs: Are robotaxis coming for London?
Fresh off regaling us with his tales in a Silicon Valley robotaxi, George Osborne is asked if they’re bound for London and what risks they may pose, in this week’s EMQs. Ed Balls echoes some of our listener’s concerns, but George argues this is no different than other tech evolutions like Uber.The pair are then asked why Britain often appears reactive and not proactive for big economic
Has the race to succeed Starmer kicked off?
The war in the middle east has entered its third week. Tensions rose overnight when Israel hit a natural gas field in Iran, and Iran retaliated by bombing gas facilities in Qatar. The result was oil prices skyrocketing. Ed Balls and George Osborne discuss what appears to be a communication breakdown between Israel and the US, and question whether they are aligned in their respective endgames. 
EMQs: From Beatlemania to... K-pop?
The saga of Gordon the chicken continues this week with Beatrice Gove, Michael’s daughter, sending in a question to tell us more about the incident. Ed Balls and George Osborne then answer her question about polling showing Labour and Reform out in front as the parties most trusted by business. Is this a concern for Keir Starmer? What does it mean when business starts gravitating towards oppositio
Is there an inflation crisis coming?
After weeks of speculation we finally saw the first release of the files concerning Peter Mandelson’s appointment and sacking as US Ambassador. Ed Balls and George Osborne delve into the revelations within the files, and whether any of the new information damages the government or prime minister. Was there a smoking gun in the files? Is the worst information now out there? Or, are there more damag
EMQs: Are betting markets more reliable than polling?
Fresh off the absolute victory for the Greens in Gorton and Denton, Ed Balls and George Osborne debate whether the betting markets - which accurately predicted the results - are reliable forecasters in elections in this week’s EMQs. George ponders if, unlike official polling, it might be possible to influence the odds in your favour? Fellow ex-MP Gyles Brandreth asks the brutally honest question:
Trump’s Iran Strike and Britain’s Dilemma
After weeks of warnings from George Osborne and Ed Balls, Donald Trump has rolled the dice and launched Operation Epic Fury and Operation Rising Lion against Iran. The strikes sent shockwaves around the world, with many wondering what Trump’s real motivations were. Why did Trump act now? What is his endgame? And what could the domestic and geopolitical consequences be?Ed and George unpack the stra
EMQs: Will the AI bubble burst?
On the heels of the AI Impact Summit, former advisor to Nick Clegg and author Verity Harding asks how Ed Balls and George Osborne’s experiences of the dot com bubble and rise of social media can inform the current government’s approach to AI. They also discuss whether AI is heading for its own Dot Com crash.And, what’s in a Department Name? More than you’d think apparently. The pair get surprising
The existential threats facing Keir Starmer
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EMQs: Is it time for another referendum?
Should a government hold a referendum on tax? A civil servant messages in to pose this idea to Ed Balls and George Osborne on this week’s EMQs. The two debate the merits of holding any referendum, reminisce on how easily they become about more than their central question, and ponder whether tax policy is suited to the form of a referendum. Former MP Luke Hall asks the pair about charities fun
How bad could the by-election be for Labour?
We’re one week from the Gorton and Denton by-election, which could prove another brutal blow to Keir Starmer’s already unstable premiership. Could Reform gain another MP or will this be the Green Party’s first by-election victory? And is a Labour hold out of the question? Ed Balls and George Osborne explore the state of play for the parties, including the U-turn on postponing 30 local electio
EMQs: Are we influencers now?
Is it in the best interest of opposition leaders to see weak Prime Ministers resign? In this week’s EMQs Ed and George debate whether it benefits the opposition to depose a vulnerable Prime Minister. What are the consequences if their successor is a better leader? What comes first for the Leader of the Opposition - the country, or the party? And - can just anyone become Prime Minister? Do par
Starmer’s worst week yet (after last week)
Keir Starmer’s standing has gone from bad to worse this week, with the Peter Mandelson scandal giving way to a series of resignations in No. 10 and the Scottish Labour leader openly calling for Starmer to go. Ed Balls and George Osborne look at what might be Starmer’s worst week yet, and assess if he can survive or if we’re reliving the final days of Boris Johnson, and Theresa May.Away from Westmi
EMQs: What if a PM is incapacitated?
What would happen if Keir Starmer were incapacitated? Who would be acting prime minister - David Lammy, Lucy Powell, or someone else entirely? And how does scandals and replacing cabinet ministers work with no clear line of succession? Ed and George debate the uncertainties of the parliamentary system in this week’s EMQs. They also look at the burgeoning crisis around student loan repayments,
Could the Mandelson Scandal bring Starmer down?
In this episode we discuss details from the Epstein files, with references to sexual exploitation and some strong language.We begin this week with the growing political fallout from the Epstein files, following the release of thousands of emails by the US Department of Justice detailing Peter Mandelson’s relationship with Jeffrey Epstein. The revelations have prompted comparisons with the Profumo
EMQs: Do defections make the Tories electable?
Are Robert Jenrick and Suella Braverman’s defections a blessing in disguise for Kemi Badenoch? In this week’s EMQs, Ed Balls and George Osborne explain the pros and cons of the Tories losing MPs from the right of the party, and how Badenoch can take advantage of Labour’s unpopularity. Then, the pair consider whether the UK could adopt a US style primary system for candidates and explain how t
Has Keir Starmer missed an opportunity on his visit to China?
It’s official: we are the champions. Fresh from two wins at last night’s Political Podcast Awards, a victorious Ed Balls and George Osborne look at two fairly drastic political recalibrations at home and abroad. Keir Starmer flew to China this week, amidst renewed tensions over his leadership, marking the first prime minister to visit the country in 8 years. Ed and George question why Number
EMQs: Nick Clegg as Chancellor?
Why didn’t Nick Clegg become Chancellor of the Exchequer in the 2010 coalition government? Ed Balls and George Osborne take you inside the negotiations that formed the Conservative-Lib Dem coalition in this week’s EMQs. They also discuss why Gordon Brown didn’t make Ed chancellor, and whether it was the original sin of his premiership.They also discuss the role of academics in policy making, and w
Inside Trump’s Davos Moment
Fresh off a week of anxiety and uncertainty, George Osborne reports to Ed Balls from Davos to give the inside track on what it was like to see Trump’s address in person and the murmurs from the Alps about what the President really wants. The pair also look at the reactions from Keir Starmer, European allies, and the Mark Carney speech that got everyone talking. The pair then reflect on Robert
EMQs: Who can solve the business rates debacle?
Fellow ex-minister Edward Timpson sends in a question this week, asking Ed Balls and George Osborne how they stayed mentally and physically healthy during their time in government. The pair share their guide for what all ministers should do to remain fit in and out of office.Shevaun Haviland, Director General for the British Chambers of Commerce, then asks how the ongoing issues with business rate
Is Robert Jenrick’s defection a threat to Nigel Farage’s leadership?
The dramatic news of Robert Jenrick’s sacking and rumoured plot to defect to Reform broke mid-record this week, meaning Ed Balls and George Osborne give a live reaction to the news. Has Kemi Badenoch secured her leadership or is this the next Tory psychodrama? And, could Nigel Farage be inviting the biggest threat to his leadership by accepting Jenrick? The pair look at the ongoing protests i
EMQs: What’s your snakiest political move?
In the first EMQs of 2026 Ed Balls and George Osborne answer the most important question for any politician: what was your snakiest move? The pair share each of their proudest (and least proud) moments of cunning, as well as some hard-won advice on when being snakey can pay off. They then turn to a question missed from our last ‘What If’ episode from Australian cabinet member Chris Bowen, who
Will pubs be the next big Labour U-turn?
2026 has begun dramatically, with Donald Trump ordering an attack on Venezuela, plus has had aggressive rhetoric against Greenland and other parts of Latin America. Ed Balls and George Osborne discuss how leaders in Europe should respond. Why has the US set their sights on securing Greenland? Is Keir Starmer’s careful response the right approach? And just how much is Trump being motivated by oil?A
What if: Obama versus Trump 2028?
What if the Brexit vote was flipped? Would George Osborne actually be our… former Prime Minister? And what would have happened during the Covid-19 outbreak in that case?George Osborne and Ed Balls are back with another ‘What if’ episode, thinking about some of the most consequential sliding doors moments in modern politics. Looking further back, what if it was actually Neil Kinnock who had wo
Bridget Phillipson on the two-child cap, Reform, and the deputy leadership
Education secretary Bridget Phillipson joins George Osborne on the podcast this week for a special conversation, giving him another sit down with a rising cabinet member after his interview with Wes Streeting in the summer. The pair talk about the challenges of entering government and whether Labour (or any party) still prioritises education, education, education. They debate the effectivenes
Christmas EMQs: Who is the ultimate political traitor?
Pop the champagne, Ed and George are feeling Christmassy in the Political Currency studio, answering some very special questions. Claudia Winkleman asks who the ultimate political traitor is? Who do they pick for 2025… and of all time? Plus, our listeners ask Ed and George about the gifts they have bought for their loved ones - did George ever get David and Sam Cam any wallpaper… and als
Sir Ed Davey on his plan to take the fight to the far right
Can Sir Ed Davey really take the fight to the right when it comes to the next election? In this special episode of Political Currency, Ed Balls speaks to the Liberal Democrat leader - and his politician of the year from 2024. In this wide-ranging conversation, the two Eds talk about Ed Davey’s passion for care provision and his deeply personal connection to the issue. Ed Balls also asks Ed ab
EMQs: What's your most embarrassing moment as a politician?
What’s the most embarrassing moment you’ve ever had caught on camera? Good Morning Britain’s Susanna Reid asks George and Ed to walk down an excruciating memory lane. And she puts a question from ChatGPT to them, in light of George’s new gig. But which question is better?George reveals William Hague’s incredible method for making sure meetings run on time and Ed helps a Gold listener finally under
Which party will dominate 2026?
How has 2025 changed the outlook for Britain’s political parties? George Osborne and Ed Balls reflect on the events that have defined public opinion and led to unprecedented changes in the polls. What went wrong for Keir Starmer’s government? Why does Kemi Badenoch’s leadership now look more stable? They also name what could potentially be the four most influential moments of 2026. Are losses
EMQs: What’s the hardest question you’ve had to answer?
George Osborne and Ed Balls reminisce on their most challenging interviewers…school children. George recalls being asked what seven times eight was, while Ed recounts misfires over school lunches. They also speculate on which Tory MP was glad to be sacked by Rishi Sunak…Elsewhere, they look at the peculiar case of the Canadian Conservatives where election loser Pierre Poilievre has continued on as
Is the US turning its back on Europe?
What does the White House really think about Europe? George Osborne and Ed Balls take a look at President Trump’s new national strategy. George plays devil’s advocate for the plan, while Ed suggests that it could reveal JD Vance’s big strategy for 2028… They then turn to the US domestic agenda, and weigh up whether the Trump economy really is A+++. They look at the impact of the tariffs, the
EMQs: Is it time to abolish the state pension triple lock?
Will any government be brave enough to abolish the triple lock on pensions? The cost-saving case has been made by many, but Ed Balls and George Osborne explain why it could be politically calamitous to try and ditch it. They debate William Hague’s theory that, were Rachel Reeves sacked, Keir Starmer would follow and look back at how chancellors and Prime Minister’s fates have been intertwined
When will Labour’s communication catastrophe end?
The drama rages on, one week after Chancellor Rachel Reeves stood at the dispatch box to deliver her second Budget. Richard Hughes has resigned as OBR chair following the catastrophic budget leak and calls for Rachel Reeves to do the same have not let up. Ed Balls and George Osborne look at the “shambolic” fallout of the budget, and how Labour have once again grasped defeat from the jaws of victor
EMQs: How much power do chancellors have?
How many times did Gordon Brown save Tony Blair from a calamitous decision? Ed Balls and George Osborne recount the times chancellors stepped in to save their PM from disaster. Does George wish he'd done it a bit more with David Cameron?And why does the Opposition leader respond to the budget and not the shadow chancellor? Ed and George try to work it out, but are not quite sure themselves - pleas
Has Chancellor Rachel Reeves abandoned growth?
Does Rachel Reeves have a credible plan for growth? One day on from her Budget Statement, George Osborne and Ed Balls debate her headline measures and ask if she’s built enough of a narrative to save her job. Health Secretary Wes Streeting asks about two Osbornian policies: the sugar tax and two-child limit. How can Labour win the argument?They also talk about the disastrous OBR leak, whether anyo
Budget Hot Take: Has Chancellor Rachel Reeves saved herself? | LIVE reaction
After months of speculation, briefings and leaks, Rachel Reeves has finally delivered her fated second budget. Has she done enough to save herself, Keir Starmer, and the Labour government?In a special YouTube LIVE episode, Ed Balls and George Osborne give their immediate reaction to the Chancellor's budget. They dive into who the budget was for, the overtly political tone, and whether Reeves stood
EMQs: Is it time for a Tory/Labour truce?
With politics fraying and radical parties growing in strength, could the Tories and Labour come together and merge into a grand coalition of the centre? Surely George Osborne and Ed Balls have proven on this podcast that great things can happen when the two parties come together… And, as budget week looms, former Treasury civil servant Jill Rutter asks how Ed and George would get themselves o
Is Shabana Mahmood the heir to Blair?
A dramatic U-turn from Labour has stopped them from breaking their manifesto, but it has also left the Budget looking messy and wide open to risk. The expected income tax rise has been shelved in favour of what some insiders call a “smorgasbord” of smaller taxes. In this episode of Political Currency, Ed Balls and George Osborne dig into whether this was a rushed scramble or a smart political play
EMQs: Is PMQs just 'political theatre'?
What is the real purpose of Prime Minister's Questions? As an ‘infuriated’ listener asks why the Speaker can't force politicians to answer, George Osborne breaks down why PMQs is ‘political theatre’ and what most people misunderstand about it, while Ed Balls explains why David Lammy’s recent performance revealed the real procedural power the Speaker holds.Then, prompted by a question from Shadow C
Starmer v Streeting: Is it curtains for Keir?
A bizarre briefing war has exploded in Westminster, with Wes Streeting accused of plotting a coup against Keir Starmer. Ed Balls and George Osborne analyse the ‘toxic culture’ in Number 10: who was really behind the briefing, and has this ‘self-destructive’ move inadvertently strengthened Streeting while fatally weakening the Prime Minister?Meanwhile, the BBC is in turmoil, with its Director Gener
EMQs: What does 'fairness' actually mean in politics?
What political rival would you share a 12-hour flight with? Ed Balls and George Osborne dive into this very question, revealing the old foes and opposite numbers who would make the best long-haul companions.And can an unpopular leader tank a popular policy? The pair debate how a leader’s image affects a government, and whether an unpopular messenger will derail a popular message no matter what. Th
Is this Rachel Reeves’ last throw of the dice?
Rachel Reeves has set the stage for a dramatic Budget, seemingly signaling a "massive political gamble" by preparing to raise taxes on working people. Ed Balls and George Osborne analyse her pitch-rolling: has she boxed herself in, becoming the market's "guarantor" against her own party? And can she possibly sell this to an already-squeezed public?Meanwhile, Kemi Badenoch marks one year as Conserv
EMQs: TikTok, Strictly, and foreign aid
Why won't Labour make rejoining the EU its new "silver bullet" against Nigel Farage? A listener challenges Ed Balls and George Osborne on tackling the "political third rail" of Brexit. Ed argues the EU wouldn't even want the UK back on its old terms - likely forcing the Euro and Schengen - while George predicts Britain will inevitably "creep back" towards the Single Market.Then, a direct question
Can Starmer hold on as PM?
Keir Starmer has weathered one of the most brutal weeks of his tenure. The Caerphilly by-election collapse, a divisive Deputy Leadership election, and the mistaken release of a high-risk prisoner have ignited leadership speculation and exposed deep party tensions. Ed Balls and George Osborne debate where it's all gone wrong, and whether Starmer can hold on.The pair then look ahead to the Budget an
