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Political Currency

Persephonicashows.acast.com

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.


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Political Currency is a Persephonica production.

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Episodes

EMQs: Political Golf Buddies

This week, Ed Balls and George Osborne complete the chancellor triptych with current shadow Chancellor Mel Stride ringing in to ask: how much space should a treasurer leave themselves against their fiscal target? And pressingly, does Rachel Reeves pass their test? They also consider if Nigel Farage will come to regret his close alignment with Donald Trump. Could the electorate turn against him if Trump continues on his rampage of tariffs and military aid halts against Ukraine? Speaking of, why h...

Mar 17, 202540 minSeason 1Ep. 157

Will welfare cuts be Labour’s undoing?

A ceasefire in the Russian-Ukraine war is now on the table, with US and Ukrainian officials reaching a deal to stop the fighting. With US military aid to Ukraine and intelligence sharing now reinstated, the world is now turning to Putin’s next move. Will the Russian president agree to peace? George Osborne and Ed Balls consider the monumental shifts in the way the years-long conflict is now being viewed. And at what price? Meanwhile on both sides of the Atlantic, leaders are getting to grips wit...

Mar 13, 20251 hr 3 minSeason 1Ep. 156

EMQs: A post politics survival guide

This week George Osborne and Ed Balls are taking questions in person, with a select few Kitchen Cabinet members joining the first ever live audience recording of the show. Is Fredreich Merz right to worry that the European Union will face a financial crisis thanks to government debt? Is AI data management the way forward for driving significant savings in both welfare and healthcare? And is Trumpian rhetoric having an adverse effect on centre-right campaigning? Plus, they turn their minds to an ...

Mar 10, 202548 minSeason 1Ep. 155

Will Rachel Reeves be forced into an emergency budget?

It’s been a week of political whiplash, including that infamous explosive meeting in the Oval office and renewed commitment from European leaders to back Ukraine. George Osborne and Ed Balls consider who - if anyone - has fared well in this wild week. Is Trump himself as the deft negotiator he claims to be? And with a rush to bolster arms on this side of the Atlantic, what is the fallout for Rachel Reeves? As the Spring Statement approaches, what choices does she have to limit the damage that ma...

Mar 06, 202558 minSeason 1Ep. 154

EMQs: The art of parliamentary heckling

This week, Conservative peer Baroness Gabby Bertin asks for advice on how to keep a government report from sinking without a trace. Her review - released on Thursday - calls for a ban on degrading and misogynistic pornography. George Osborne and Ed Balls provide their views on how to make sure the findings reach the right people and make an impact. Speaking of influence and power, host of Politico’s Westminster Insider podcast Sascha O’Sullivan has a question regarding the relationship between t...

Mar 03, 202547 minSeason 1Ep. 153

Europe’s security wake-up call

As Keir Starmer meets with Donald Trump for the first time since the latter’s re-election, international order appears to be fragmenting around us. George Osborne and Ed Balls ask, are European leaders having to face up to a painful truth that their security is now at the whim of Trump’s? Could other countries even come close to providing the kinds of military forcepower the Americans can provide? All the same, Starmer made a big splash this week ahead of his momentous trip to the White House by...

Feb 27, 20251 hr 2 minSeason 1Ep. 152

EMQs: How to survive a cabinet reshuffle

Ex-ministers Ed Balls and George Osborne reflect on the moments in their political careers when they went against the whip. What are the consequences of going against the party grain, and is it worth it? Simon Hart, former Chief Whip under Rishi Sunak, sends us a voice note to ask… And on the subject of political maneuvering and backroom deals – and with rumours swirling No 10 is planning a Spring rejig – what’s it like when there’s a cabinet reshuffle? The pair reflect on the political brutalit...

Feb 24, 202547 minSeason 1Ep. 151

Could Keir Starmer send British Troops to Ukraine?

Donald Trump and his Vice President JD Vance have set the cat amongst the pigeons as they criticise Europe and Ukraine this week. Ed Balls and George Osborne look back on a week that turned the world upside down. How do NATO members respond to perhaps the most unpredictable world leader ever known? Keir Starmer is just one world leader considering his next steps in Trumpworld. Is his vision for Britain as a bridge between the EU and the US working? And if he’s to follow through on his pledge of ...

Feb 20, 20251 hr 3 minSeason 1Ep. 150

EMQs: Are personal insults fair in politics?

With Valentine’s Day just gone, podcast soulmates Ed Balls and George Osborne are turning to questions of both hearts and minds this week. As Keir Starmer recently became the first sitting Prime Minister to take a public HIV test, Richard Angell, the Chief Executive of Terrence Higgins Trust asks: Did Ed and George ever take a similar step while in leadership? They also consider whether UK politics could ever drop the inevitable personal attacks that are rolled out during an election campaign. A...

Feb 17, 202543 minSeason 1Ep. 149

Can Kemi Badenoch get free of Nigel Farage?

The Starmer government’s landmark Assisted Dying bill could be in danger of collapsing, with sponsor Kim Leadbeater now proposing major changes in the final moments. Will this signal the end once and for all? Ed Balls and George Osborne clash over how Keir Starmer should best proceed. Should he pull the bill entirely? Or is it time to press on? Meanwhile, Kemi Badeoch is marking 100 days in what is arguably one of the worst jobs going in politics: Leading the opposition. She's working hard to ho...

Feb 12, 202559 minSeason 1Ep. 148

EMQs: Can we get young people back to work?

This week, Ed Balls and George Osborne take on some of the most difficult challenges facing society today. With millions of people of working age not in a job - officially called economically inactive - the pair consider the current costs to society and how to fix them. Columnist for the Times and former MP Matthew Parris asks George directly: Didn’t he see this coming with the introduction of personal independence payments? And the Office of Budget Responsibility is meant to be apolitical – but...

Feb 10, 202541 minSeason 1Ep. 147

Will the Tories fall for Keir Starmers EU trap?

Keir Starmer has been in Brussels this week, meeting with European Union leaders with the view to resetting the relationship with the bloc. George Osborne and Ed Balls ask, is it making good on a campaign promise? Is it to shore up UK-EU relations as President Donald Trump runs wild with tariffs? Or, is it a perfect opportunity to lay the perfect trap for the Conservatives … Trump’s decision to slap tariffs on major US trading partners sent shock waves across the globe and sent the stockmarket i...

Feb 06, 20251 hrSeason 1Ep. 146

EMQs: Should we want Donald Trump to succeed?

This week Ed Balls and George Osborne look at what makes a smart, successful opposition party. Is disagreeing with everything the government of the day says the best way to do it? Or are there some judicious, selective compromises to be made? And who are the best examples of politicians who’ve made some well played, cross party agreements? Amid global tumult, they consider the question: is democracy dead? What will happen if President Donald Trump’s policies are a roaring success? And the pair r...

Feb 03, 202533 minSeason 1Ep. 145

Can extremism amongst young men be stopped?

In the wake of the horrific Southport attack, George Osborne and Ed Balls consider the parameters of the upcoming inquiry and the intensifying concern about young men engaging in acts of violence. Should the definition of extremism be changed with the so-called manosphere in mind? And do we need new rules for reporting on major crime for our social media age? And the pair mull over Rachel Reeves speech outlining her plans for growth. George thoroughly approves of everything she is announcing, an...

Jan 30, 202559 minSeason 1Ep. 144

EMQs: Should David Beckham be knighted?

A somewhat sporty one this episode, as in the wake of a Davos meet, George Osborne and Ed Balls consider: Why hasn’t David Beckham been knighted yet? Lady Posh Spice would just sound so good. Meanwhile, Former Minister for Sport Tracey Crouch asks if there’s any way to keep politics out of sport under Trump’s presidency. With a World Cup and an Olympics games in the US this year, what will be at stake under the new administration? And, the pair slip into professor mode to break down a few lesson...

Jan 27, 202540 minSeason 1Ep. 143

Trump's tech supremacy era begins?

President Trump has had a big week, what with an inauguration and then signing a myriad of actions in his first days in office - never mind the move to US tech supremacy. After a big start, Ed Balls and George Osborne ask whether he can sustain the political honeymoon, or if this will be a very different Trump presidency, marred by the reality of being a populist President in office. Meanwhile, like the rest of the global elite, George is in Davos, and he’s reporting back to Ed everything he’s h...

Jan 23, 202559 minSeason 1Ep. 142

EMQs: Could Ed Davey’s EU plan actually work?

With Donald Trump back in the White House as of Monday, leader of the Liberal Democrats Ed Davey has called in to ask: In strengthening the nation's negotiating hand with the new American leadership, is there a case for rejoining the EU customs union? George Osborne and Ed Balls discuss whether he's on to something - and whether there's any way it could happen under a Starmer government. Meanwhile, the PM wants to supercharge the UK’s Artificial Intelligence capabilities – but should that be top...

Jan 20, 202538 minSeason 1Ep. 141

Should Starmer replace Reeves?

After a tough week, Keir Starmer’s been forced to publicly proclaim Rachel Reeves has his full support – and to hose down suggestions she won’t make the full parliament. Ed Balls and George Osborne weigh in on just how politically fatal it would be to ditch a Chancellor six months into the Labour leadership. The second Trump presidency is now a matter of days away, so how will this new American political era play out on the world stage? Why are some Trump opponents approaching the Trump sequel w...

Jan 15, 202555 minSeason 1Ep. 140

EMQs: Time to take Trump seriously?

George Osborne and Ed Balls are back for their first round of questions of the year, ready to mull the big conundrums of 2025! Craig Oliver, former director of Politics and Communications in David Cameron’s No 10, asks the pair to weigh in on the upcoming Trump Presidency. Do we need to take him seriously – and literally – this time around? In the wake of our Inside No 10: David Cameron - The First Six Months series, should Labour have taken a leaf from the Cameron/Osborne era and painted a full...

Jan 13, 202538 minSeason 1Ep. 139

Reeves’ bond market headache

Is Rachel Reeves starting 2025 with a bond market headache? Ed Balls and George Osborne explain how global trends and UK inflation might just mean she’s boxed herself in… again. Meanwhile, Elon Musk’s growing interest in British politics – and hatred of Keir Starmer – has erupted into a row over the grooming gangs scandal. What would Ed and George do in Starmer’s position? And what are the long and short term political implications for Labour, the Tories and Nigel Farage’s Reform party. Plus, ov...

Jan 09, 20251 hr 1 minSeason 1Ep. 138

Inside No 10: David Cameron - The First Six Months (Part 3: The World Stage)

How do you position yourself on the world stage? David Cameron might have been Prime Minister of the United Kingdom, but in this third episode he shares with Ed Balls and George Osborne the true reality of leading a small country in a big world. British soldiers in Afghanistan; Relations with China; The beginnings of a rupture in the UK-EU relationship. And he shares the more personal moments - like losing a parent - that still happen in the life of a human being who happens to be Prime Minister...

Jan 06, 202549 minSeason 1Ep. 136

Inside No 10: David Cameron - The First Six Months (Part 2: The Austerity Budget)

How do you prepare the country for austerity? David Cameron joins Ed Balls and George Osborne to step back to the 2010 budget. From the true relationship between a Prime Minister and his Chancellor, to the careful decisions on departmental spending, to the very difficult task of selling cuts to a country that doesn’t want them, this is the reality of a Prime Minister before a government-defining fiscal event. As Keir Starmer marks six months as Prime Minister, Political Currency is stepping back...

Jan 02, 202539 minSeason 1Ep. 135

Inside No 10: David Cameron - The First Six Months (Part 1: Prime Minister at last)

What’s it really like to step through the black door of No 10 for the first time as Prime Minister? Ed Balls and George Osborne ask David Cameron about his “out-of-body” experience on the way to the palace, plus what it’s like organising a staff team who have just had to say goodbye to a government. They discuss how to handle the top job when life starts relentlessly throwing events at you, the surprising tasks - like letters of last resort - that suddenly become your responsibility, and whether...

Dec 30, 202440 minSeason 1Ep. 134

EMQs: 2025, The Comeback Year?

This Boxing Day, George Osborne and Ed Balls pop the champagne and turn their minds to the year ahead. Good Morning Britain's Kate Garraway asks: What could Labour achieve in 2025 that would earn it Ed and George’s seal of approval? And what are they personally looking forward to in the coming year? Meanwhile, Conservative Member of Parliament Laura Trott, Shadow Education Secretary, has rung in to ask for advice on getting the issue of improving schools on the radar. And have Ed and George real...

Dec 26, 202438 minSeason 1Ep. 133

EMQs: Christmas crises and cracker etiquette

Christmas is just days away now, so Ed Balls and George Osborne are getting into the season by reflecting on Christmas-time political emergencies that have interrupted the festivities over the years. Meanwhile, Claudia Winkleman makes a guest appearance to ask the pair to weigh in on important matters: Should one read the joke first or place the crown after pulling a Christmas cracker? She also asks – mince pies or ice cream? And, of course, traitor or faithful? The pair also consider which poli...

Dec 23, 202424 minSeason 1Ep. 132

A lump of coal for Waspi women?

David Cameron is revealed as our very special guest on Inside No 10: David Cameron - The First Six Months, out 30th December. Follow us wherever you get your podcasts to make sure you don’t miss this incredible conversation about what it really takes to run the government. 📺: Watch the trailer now! Plus: An alleged spy scandal that reportedly ensnared Prince Andrew has Ed Balls and George Osborne asking: is it as bad as it looks? Isn’t spying – which the Chinese national in question strongly de...

Dec 19, 202458 minSeason 1Ep. 131

EMQs: Political Mishearings

This week, George Osborne and Ed Balls consider: should economic decisions be confined to the Treasury and the Prime Minister? Or is the room for wider cabinet discussion? Meanwhile, Lyanne Nicholl, the CEO of 50:50 Parliament – an organisation dedicated to driving more female representation in government – asks Ed and George to share their most positive words of wisdom for someone weighing a career in politics. The pair reveal the women they’ve encouraged to go into the government game, and whe...

Dec 16, 202434 minSeason 1Ep. 130

Starmer’s blame game

Keir Starmer is working hard to shift the narrative on his government from gloomy tax raiders to optimistic change makers. Ed Balls and George Osborne asses whether he’s leaning too hard into blame. Does he need to stop the finger pointing and get on and deliver? Bashar al-Assad’s regime in Syria collapsed this week — a sudden, stunning end to the Assad family’s five-decade reign. Ed and George reflect on the Syrian civil war and its impact on their time in politics. What is going on in Downing ...

Dec 12, 202454 minSeason 1Ep. 129

EMQs: Can one person flip an election?

Who are the individuals who’ve influenced elections in the same way as Elon Musk? Ed Balls and George Osborne run through some of the great drivers of political results over the years - from people on the street to press barons. Plus, with our Inside The Room miniseries with Nicola Sturgeon now wrapped up, George and Ed take listener questions on the matter of the 2014 referendum and the ongoing, simmering tensions around Scottish independence. Would England be economically better off without Sc...

Dec 09, 202434 minSeason 1Ep. 128

Why Starmer shouldn’t underestimate Elon Musk

After helping to secure a victory for Donald Trump in the US election Elon Musk is seemingly setting his sights on the UK and Reform. Ed Balls and George Osborne take stock of whether Keir Starmer and Kemi Badenoch should be worried. Is this another sign of the end of the two-party system? The historic vote on assisted dying last week has brought a whole new set of questions and challenges for the government. How Labour will balance its plans for the NHS with this potential landmark legislation?...

Dec 04, 20241 hr 3 minSeason 1Ep. 127
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