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
11 snips
Dec 18, 2025 • 54min
Which party will dominate 2026?
George Osborne and Ed Balls dissect the seismic shifts in British politics since 2025. They analyze Keir Starmer's domestic struggles versus Kemi Badenoch's rising stability. The discussion previews pivotal moments in 2026, including potential losses for Labour and the impact of US midterms on Donald Trump's future. They also evaluate the pressing issues of economic pressures and immigration. With surprises and standout political figures of 2025 highlighted, they reflect on the significance of upcoming elections and the crucial OBR forecast.
8 snips
Dec 15, 2025 • 35min
EMQs: What’s the hardest question you’ve had to answer?
George Osborne and Ed Balls share hilarious memories of facing tough questions from schoolchildren, including tricky math queries. They delve into the peculiar case of Pierre Poilievre, exploring why some leaders linger after defeats. The duo also debates Labour's hesitance to rejoin the Customs Union and assesses the US/India trade deals' viability. Listeners hear a compelling defense of Labour's first year, while George surprises with a Harold Wilson impression, turning political discourse into entertaining banter.
9 snips
Dec 11, 2025 • 1h 2min
Is the US turning its back on Europe?
The discussion delves into Trump's new national security strategy, revealing its contrasting tone towards Europe. Insights into J.D. Vance's influence and the sharp language used about Europe suggest domestic political motives. The hosts evaluate the impact of US economic policies, including tariff-driven inflation and an A+++ economy claim. They explore the competitive landscape in global trade and the Hollywood bidding wars, highlighting the political stakes behind media deals. Lastly, they touch on the geopolitical implications of recent UK actions.
8 snips
Dec 8, 2025 • 35min
EMQs: Is it time to abolish the state pension triple lock?
The hosts dive into the controversial triple lock on pensions, debating its political risks and implications for the poorest pensioners. They ponder William Hague's theory that sacking Rachel Reeves could shake Keir Starmer's position. Curiously, Keir's doodling during PMQs is linked to focus techniques reminiscent of Obama. They also explore the history of the triple lock and the complexities of tax pledges in political manifestos. In a twist, they imagine how political history might have changed with different decisions leading up to the 2024 election.
13 snips
Dec 4, 2025 • 54min
When will Labour’s communication catastrophe end?
Tensions continue as Labour grapples with the fallout from a disastrous budget leak. Chancellor Rachel Reeves is under scrutiny as criticism mounts over her communication failures. David Lammy proposes drastic jury reforms to tackle a justice backlog, sparking debate about civil liberties. The rise of far-right parties in Europe raises questions about the UK's political landscape and what Labour can learn from these shifts. Join the hosts as they dissect these pivotal moments and the implications for the future.
7 snips
Dec 1, 2025 • 32min
EMQs: How much power do chancellors have?
The dynamic duo explore how chancellors have historically protected prime ministers from disastrous decisions. Ed recounts pivotal moments with Gordon Brown and Tony Blair, while George reflects on missed opportunities with David Cameron. They tackle the impacts of minimum wage increases on youth employment and ponder the strange role of the opposition in budget speeches. The conversation takes a lighter turn as they share their dream jobs beyond politics, proving that even political heavyweights have aspirations beyond the corridors of power.
27 snips
Nov 27, 2025 • 1h 1min
Has Chancellor Rachel Reeves abandoned growth?
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.
9 snips
Nov 26, 2025 • 37min
Budget Hot Take: Has Chancellor Rachel Reeves saved herself? | LIVE reaction
Rachel Reeves delivered a high-stakes budget with mixed reviews. Ed Balls argues it primarily catered to Labour MPs while lacking growth focus. George Osborne critiques the overtly political tone and how it misses engagement with swing voters. They discuss the controversial freeze on tax thresholds, which could breach Labour's tax pledges. The hosts also dive into economic forecasts, noting weak growth and increased financial strain on households. Finally, they analyze the budget's long-term electoral risks for Labour amid rising taxes and diminishing incomes.
17 snips
Nov 24, 2025 • 44min
EMQs: Is it time for a Tory/Labour truce?
Could a merger between the Tories and Labour be the answer to political fragmentation? George Osborne and Ed Balls discuss European examples and the barriers to coalition-building. They dive into the lasting impacts of Liz Truss’s mini-budget and the implications for Rishi Sunak. The conversation shifts to the art of public speaking, highlighting how over-preparation can backfire. Plus, they explore innovative ways to engage the public with political simulations. It's a blend of economics, strategy, and communication!
13 snips
Nov 20, 2025 • 1h 12min
Is Shabana Mahmood the heir to Blair?
Labour faces a chaotic U-turn on income tax, replacing a planned rise with numerous smaller taxes, sparking market uncertainty. Shabana Mahmood's ambitious asylum reforms are creating waves among Labour supporters and prompting questions about her political future. Meanwhile, George and Ed debate Steve Hilton's surprising run for California governor and his Trump-esque tactics, including an unconventional promise to control the weather. It's a rollercoaster of political maneuvers, rhetoric, and the impact of narratives in shaping public perception.
