Political Currency
Persephonica
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.ukFind us on social media @polcurrencyPolitical Currency is a Persephonica production. Hosted on Acast. See acast.com/privacy for more information.
Episodes
Mentioned books
10 snips
Jan 29, 2026 • 54min
Has Keir Starmer missed an opportunity on his visit to China?
A lively take on Keir Starmer’s rare trip to China and the debate over low-key messaging versus geopolitical leadership. A blocked return to Westminster sparks questions about party control and regional growth plans. Shifts in US immigration politics after deadly shootings and corporate backlash are discussed. New IFS findings on house-price driven inequality and the limits of watered-down planning reforms are explored.
9 snips
Jan 26, 2026 • 36min
EMQs: Nick Clegg as Chancellor?
Breezy inside stories about 2010 coalition bargaining and whether Nick Clegg could have become chancellor. A lively debate on academics in policymaking and why US scholars often move into government more than British ones. Analysis of how many U-turns a government can survive and the political costs of reversals. A heated discussion on defections and whether lawmakers should trigger by-elections.
19 snips
Jan 22, 2026 • 58min
Inside Trump’s Davos Moment
George Osborne shares his firsthand experience of Trump's unpredictable speech at Davos, sparking discussions on its implications. The duo debates whether Trump's actions signify a real strategic shift or merely symbolic gestures. They also analyze Starmer's restrained response compared to Mark Carney's provocative tone and reflect on the impact of Robert Jenrick's defection on party dynamics. Ed provides insights on the rise of France's National Rally and the urgent need for stronger UK-France relations amidst evolving European politics.
9 snips
Jan 19, 2026 • 38min
EMQs: Who can solve the business rates debacle?
This discussion delves into how former ministers maintain their mental and physical health while in office, emphasizing diary management and family time. They tackle the complex issue of business rates reform, highlighting its revenue significance and the challenges in implementing changes. A listener from Tokyo sparks a conversation on Japan's economic stagnation and the emerging popularity of Prime Minister Sanae Takaichi. The conversation also contrasts the ease of making promises in opposition with the reality of governing.
11 snips
Jan 15, 2026 • 1h 2min
Is Robert Jenrick’s defection a threat to Nigel Farage’s leadership?
This week's drama unfolds with Robert Jenrick's sacking and speculation about his potential defection to Reform. Ed Balls and George Osborne dive into whether Kemi Badenoch has secured her leadership amidst Tory turmoil. They also discuss the ongoing protests in Iran and Trump’s shifting views on military intervention there. Meanwhile, Labour faces criticism over repeated policy U-turns, particularly regarding mandatory Digital ID cards. The hosts highlight the escalating tensions between Jerome Powell and Trump, raising questions about Fed independence.
20 snips
Jan 12, 2026 • 33min
EMQs: What’s your snakiest political move?
Discover the cunning moves that define political careers as two former ministers reflect on their snakiest decisions. They dive into a thought-provoking 'What If' scenario about John Smith's influence on British politics. The conversation turns to the public perception of AI, with insights on how it might reshape productivity and democracy. Finally, they share nostalgic moments from the Taylor Swift Eras Tour, blending politics with personal stories and humor. Tune in for a mix of intrigue, history, and catchy tunes!
19 snips
Jan 8, 2026 • 52min
Will pubs be the next big Labour U-turn?
Tensions are rising as Trump orders an attack on Venezuela, while European leaders contemplate their response. The discussion delves into Greenland's strategic value and whether Starmer’s focus on the cost of living will resonate with the public. The hosts question the implications of Labour's recent U-turns, especially concerning farmers' inheritance tax and upcoming decisions on pub business rates. Amidst mounting pressure on Starmer, they ponder whether these reversals will strengthen or undermine the government's credibility.
9 snips
Jan 5, 2026 • 39min
What if: Obama versus Trump 2028?
What if Brexit had gone the other way? The hosts explore a potential Tory civil war and shifts in party leadership. They dive into the repercussions of Neil Kinnock's victory in 1992 on Black Wednesday and economic policies. Fast forward, they ponder whether Donald Trump can legally run for a third term in 2028, and if Barack Obama would make a strong comeback against him. Fresh faces or seasoned figures? The debate unfolds about the best Democratic candidates to challenge Trump in this hypothetical political showdown.
30 snips
Dec 31, 2025 • 53min
Bridget Phillipson on the two-child cap, Reform, and the deputy leadership
Bridget Phillipson, a rising MP and the Secretary of State for Education, joins the discussion on pressing political topics. She debates the removal of the two-child cap versus investing in early years education and explains key challenges in special educational needs reform. Reflecting on her deputy leadership campaign, she shares insights on positioning within the Labour movement and tackling the appeal of Reform in working-class areas. Phillipson emphasizes the need for tangible results to win back voter trust and improve living standards.
19 snips
Dec 29, 2025 • 40min
Christmas EMQs: Who is the ultimate political traitor?
Join Ed and George as they dive into the holiday spirit with festive banter and a dash of debate on political traitors, naming Michael Gove as the all-time favorite. They chat about quirky Christmas gifts and share their top book recommendations. The conversation takes a serious turn as they reflect on the rise of antisemitism, navigating the tricky terrain of criticism. Plus, hear their fond memories from iconic Westminster pubs and get Ed's kitchen secrets for a perfect Christmas feast.
