Political Currency

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.

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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 ...

Is the centre ground of British politics dead? A 15-year-old listener challenges George Osborne and Ed Balls on the surge of Reform and the Greens, forcing them to ask if the centre can truly fight back against populism.

And why are bats, newts, and even spiders causing such chaos for British planning? The pair dive into the costly industry of species protection, discussing hundred-million-pound bat tunnels, a town centre stoppe...

As Chancellor Rachel Reeves prepares for a tough Budget, a new narrative is emerging: it's all Brexit's fault. Ed Balls and George Osborne examine whether the 'Brexit blame game' is a smart political strategy or a 'backward-looking excuse' that voters won't buy. And they discuss if it's too late for Labour to build a compelling economic story.

Then, the pair dive into the 'appalling' turmoil inside Keir Starmer's No. 10. Are 'st...

Could Ed Balls ever be tempted to become a Tory? And would George Osborne ever consider joining the Labour Party? The pair are forced to confront the ultimate political taboo after a listener asks if they could “pull a Winston Churchill” and cross the floor.

George also recounts his recent on-stage reunion with Sir Nick Clegg, discussing with Ed whether the UK is destined for a multi-party system and if coalition governments are...

Has the collapse of the China spy trial permanently damaged the Prime Minister? Ed Balls and George Osborne discuss how the ongoing saga of who knew what and when is causing untold damage to the Government.

And as Donald Trump declares ‘a new dawn’ in the Middle East, with the ceasefire appearing to be holding in Gaza, the pair debate if the US President should get the Nobel peace prize and whether the UK government is ‘delusion...

Is the modern Conservative Party a repudiation of the Cameron-Osborne years? George Osborne is challenged by Ed Davey, who asks him to consider whether Kemi Badenoch's leadership means there's no place for him in the party he once helped lead.

Then, Ed Balls sets the record straight on one of New Labour's defining policies, revealing the true story behind making the Bank of England independent and taking credit from both Gordon ...

Empty chairs, misspelling Britain, and a surprisingly good speech from Kemi Badenoch have brought a rollercoaster Conservative conference to a close. Ed Balls and George Osborne weigh up whether the highs outweighed the lows and ask if Badenoch has bought herself more time. And, with the threat from Reform looming, they ask: is a pact still on the table?

The pair then dissect one of the conference's biggest bombshells: the pledg...

Why is New Labour suddenly going viral on TikTok? In this week’s Ex-Ministers’ Questions, Ed Balls and George Osborne respond to their Gen Z fans who are remixing their greatest political moments into social media edits.

With Labour conference just finished, Ed and George ask whether Keir Starmer is really a Blairite, a Brownite, or breaking with New Labour altogether. They also debate what Starmer and Rachel Reeves need to do t...

Keir Starmer went into the Labour Party Conference in a perilous position, fighting off a 'rolling assault' from within his own party. In a make-or-break speech, he shifted his fire from the Conservatives to a new opponent: Nigel Farage. Was this a clever tactic to unite his base and redefine the political battlefield, or a risky gamble that elevates his rival? George Osborne and Ed Balls analyse the strategy, the rhetoric, and whe...

When does a party conference go well? And when does disaster strike? Ahead of the main party conferences, Ed Balls and George Osborne dive into their memories to reveal what really happens behind the scenes.

From George's first job as a Tory 'observer' faxing Tony Blair's speeches to No. 10, to Ed staying up so late he saw the breakfast TV crews setting up, they share the ultimate insider's guide to navigating this political “go...

Donald Trump's wild speech at the UN General Assembly has done more than just cause a diplomatic headache; it's exposed the deep tensions simmering just below the surface of Keir Starmer's government.

His attack on Sadiq Khan saw senior ministers like Wes Streeting and Shabana Mahmood scrambling to respond, raising the question: in a party rife with leadership speculation, is loyalty still the best strategy? With mounting specul...