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
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.
15 snips
Nov 17, 2025 • 40min
EMQs: Is PMQs just 'political theatre'?
Prime Minister's Questions is dissected as a form of political theatre, revealing misunderstandings about its purpose. Ed Balls highlights the significance of the Speaker's procedural powers while discussing David Lammy’s recent performance. The hosts explore the complexities of cross-party support—when it can be beneficial and when it may trap the opposition. They critically analyze the UK's decision to withhold funding at the COP summit and debate the chances of rejoining the EU under similar terms, including challenges like the euro and free movement.
10 snips
Nov 13, 2025 • 1h 12min
Starmer v Streeting: Is it curtains for Keir?
A political storm brews in Westminster as Wes Streeting faces allegations of a coup against Keir Starmer, leading to a fierce analysis of Downing Street's chaotic briefings. The BBC is reeling from high-profile resignations tied to the Trump Panorama controversy, while discussions spark about potential governance crises. Meanwhile, Trump's controversial G20 snub and its ramifications on global diplomacy raise eyebrows. The hosts delve into the identity politics shaping the MAGA movement and its potential influence crossing the pond to the UK.
Nov 10, 2025 • 38min
EMQs: What does 'fairness' actually mean in politics?
What political rival would be tolerable on a long flight? Ed and George weigh in with surprising choices. They delve into how a leader's unpopularity can sabotage a favorable policy and dissect the murky waters of 'fairness' in politics. The conversation also touches on lifelong learning and why adult skills development often falls short. Finally, they navigate the complexities of rights, responsibilities, and wealth distribution, making for a lively discussion on political philosophy.
