Political Currency
Ed Balls and George Osborne take us behind closed doors into the rooms where decisions are made. Having battled it out across the despatch box, the former Chancellor and shadow chancellor now meet in the studio to discuss the decisions that affect the nation’s pockets. Our frenemies have the knowledge and experience to explain how good politics follows the economics - and expose how the powerful become powerless when faced with market forces and political currents they can’t control. Join us every Thursday. Send your messages or voice notes to questions@politicalcurrency.co.uk Find us on social media @polcurrency Political Currency is a Persephonica production. Hosted on Acast. See acast.com/privacy for more information.
Episodes
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 ...
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 by her manifesto pledges.
T...
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 out of the hole Rachel Reeves is...
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. - and the extent to which it has ...
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 Cabinet minister Victoria Atkins...
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 General and Head of News resigning o...
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. They also examine the meaning of ...
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 Conservative leader - but, despite her...
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 from the Gates Foundation confr...
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 and Rachel Reeves's fiscal black ...
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