Political Currency Has Chancellor Rachel Reeves abandoned growth?
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Nov 27, 2025 George Osborne and Ed Balls dissect Rachel Reeves's strategy after a tense Budget Statement. They analyze the significant OBR leak and its implications, drawing comparisons to historic budget blunders. The discussion turns to Labour’s economic narrative, highlighting concerns over a perceived lack of growth initiatives. Wes Streeting raises questions about controversial policies like the sugar tax and the two-child limit, while the hosts evaluate the ongoing war in Ukraine and its potential peace negotiations. The episode wraps up with insights into future political positioning.
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Personalised Budget Rhetoric Signals Strategy
- Rachel Reeves used strong personal language in budgets, saying "I" and "my" far more than predecessors.
- George Osborne and Ed Balls argue this signals a personalised appeal to MPs rather than a clear policy narrative.
OBR Leak Hurt Process Not Credibility
- The OBR leak was a procedural disaster but Richard Hughes's response preserved trust.
- Both hosts agree losing Hughes would be damaging given his reputation in fiscal transparency.
Osborne's 2013 Budget Leak Memory
- George Osborne recounts his 2013 budget leak when the Evening Standard published early while he was speaking.
- He describes the surreal experience of reading the speech while hearing it was already online.