Political Currency

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 10 played down this significant...

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 why American scholars end up mor...

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 Jenrick’s sacking and defectio...

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 rates are solved permanently. Georg...

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 in Iran, and Donald Trump’s chan...

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 wonders what would happen if J...

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?

As Donald Trump sets the tone in...

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 won the 1992 election? How mi...

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 effectiveness of scrapping the two-c...

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 also what books they’d recommend a...

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 about his time in the Coalition g...

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 understand the joke at the front of ...

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 in the Scottish, Welsh and loc...

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 leader, and wonder if there ar...

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 upcoming appointment of a new F...

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. Plus - why is Keir Starmer al...

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 victory in yet another communications dis...

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 - please write in! They also delv...

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 anyone will be sacked, and ask how ...