Political Currency

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 strategic calculations behind the d...

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 surprisingly passionate about the joys of...

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 funding and tax changes, and Georg...

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 elections, the Labour Together scandal...

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 party leaders need to be MPs or mi...

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 Westminster, the Munich Security Conf...

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, reflecting on their own roles ...

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 affair and raised serious quest...

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 they got selected for their seat...

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...