Political Currency

Should a government hold a referendum on tax? A civil servant messages in to pose this idea to Ed Balls and George Osborne on this week’s EMQs. The two debate the merits of holding any referendum, reminisce on how easily they become about more than their central question, and ponder whether tax policy is suited to the form of a referendum.  Former MP Luke Hall asks the pair about charities fu...

We’re one week from the Gorton and Denton by-election, which could prove another brutal blow to Keir Starmer’s already unstable premiership. Could Reform gain another MP or will this be the Green Party’s first by-election victory? And is a Labour hold out of the question?  Ed Balls and George Osborne explore the state of play for the parties, including the U-turn on postponing 30 local electi...

Is it in the best interest of opposition leaders to see weak Prime Ministers resign? In this week’s EMQs Ed and George debate whether it benefits the opposition to depose a vulnerable Prime Minister. What are the consequences if their successor is a better leader? What comes first for the Leader of the Opposition - the country, or the party?  And - can just anyone become Prime Minister? Do pa...

Keir Starmer’s standing has gone from bad to worse this week, with the Peter Mandelson scandal giving way to a series of resignations in No. 10 and the Scottish Labour leader openly calling for Starmer to go. Ed Balls and George Osborne look at what might be Starmer’s worst week yet, and assess if he can survive or if we’re reliving the final days of Boris Johnson, and Theresa May. Away from Westm...

What would happen if Keir Starmer were incapacitated? Who would be acting prime minister - David Lammy, Lucy Powell, or someone else entirely? And how does scandals and replacing cabinet ministers work with no clear line of succession? Ed and George debate the uncertainties of the parliamentary system in this week’s EMQs.  They also look at the burgeoning crisis around student loan repayments...

In this episode we discuss details from the Epstein files, with references to sexual exploitation and some strong language. We begin this week with the growing political fallout from the Epstein files, following the release of thousands of emails by the US Department of Justice detailing Peter Mandelson’s relationship with Jeffrey Epstein. The revelations have prompted comparisons with the Profumo...

Are Robert Jenrick and Suella Braverman’s defections a blessing in disguise for Kemi Badenoch? In this week’s EMQs, Ed Balls and George Osborne explain the pros and cons of the Tories losing MPs from the right of the party, and how Badenoch can take advantage of Labour’s unpopularity.  Then, the pair consider whether the UK could adopt a US style primary system for candidates and explain how...

It’s official: we are the champions. Fresh from two wins at last night’s Political Podcast Awards, a victorious Ed Balls and George Osborne look at two fairly drastic political recalibrations at home and abroad.  Keir Starmer flew to China this week, amidst renewed tensions over his leadership, marking the first prime minister to visit the country in 8 years. Ed and George question why Number...

Why didn’t Nick Clegg become Chancellor of the Exchequer in the 2010 coalition government? Ed Balls and George Osborne take you inside the negotiations that formed the Conservative-Lib Dem coalition in this week’s EMQs. They also discuss why Gordon Brown didn’t make Ed chancellor, and whether it was the original sin of his premiership. They also discuss the role of academics in policy making, and...

Fresh off a week of anxiety and uncertainty, George Osborne reports to Ed Balls from Davos to give the inside track on what it was like to see Trump’s address in person and the murmurs from the Alps about what the President really wants. The pair also look at the reactions from Keir Starmer, European allies, and the Mark Carney speech that got everyone talking.  The pair then reflect on Rober...

Fellow ex-minister Edward Timpson sends in a question this week, asking Ed Balls and George Osborne how they stayed mentally and physically healthy during their time in government. The pair share their guide for what all ministers should do to remain fit in and out of office. Shevaun Haviland, Director General for the British Chambers of Commerce, then asks how the ongoing issues with business rat...

The dramatic news of Robert Jenrick’s sacking and rumoured plot to defect to Reform broke mid-record this week, meaning Ed Balls and George Osborne give a live reaction to the news. Has Kemi Badenoch secured her leadership or is this the next Tory psychodrama? And, could Nigel Farage be inviting the biggest threat to his leadership by accepting Jenrick?  The pair look at the ongoing protests...

In the first EMQs of 2026 Ed Balls and George Osborne answer the most important question for any politician: what was your snakiest move? The pair share each of their proudest (and least proud) moments of cunning, as well as some hard-won advice on when being snakey can pay off.  They then turn to a question missed from our last ‘What If’ episode from Australian cabinet member Chris Bowen, wh...

2026 has begun dramatically, with Donald Trump ordering an attack on Venezuela, plus has had aggressive rhetoric against Greenland and other parts of Latin America. Ed Balls and George Osborne discuss how leaders in Europe should respond. Why has the US set their sights on securing Greenland? Is Keir Starmer’s careful response the right approach? And just how much is Trump being motivated by oil?...

What if the Brexit vote was flipped? Would George Osborne actually be our… former Prime Minister? And what would have happened during the Covid-19 outbreak in that case? George Osborne and Ed Balls are back with another ‘What if’ episode, thinking about some of the most consequential sliding doors moments in modern politics.  Looking further back, what if it was actually Neil Kinnock who had...

Education secretary Bridget Phillipson joins George Osborne on the podcast this week for a special conversation, giving him another sit down with a rising cabinet member after his interview with Wes Streeting in the summer.   The pair talk about the challenges of entering government and whether Labour (or any party) still prioritises education, education, education. They debate the effectiven...

Pop the champagne, Ed and George are feeling Christmassy in the Political Currency studio, answering some very special questions.  Claudia Winkleman asks who the ultimate political traitor is? Who do they pick for 2025… and of all time? Plus, our listeners ask Ed and George about the gifts they have bought for their loved ones - did George ever get David and Sam Cam any wallpaper… and al...

Can Sir Ed Davey really take the fight to the right when it comes to the next election? In this special episode of Political Currency, Ed Balls speaks to the Liberal Democrat leader - and his politician of the year from 2024.  In this wide-ranging conversation, the two Eds talk about Ed Davey’s passion for care provision and his deeply personal connection to the issue. Ed Balls also asks Ed a...

What’s the most embarrassing moment you’ve ever had caught on camera? Good Morning Britain’s Susanna Reid asks George and Ed to walk down an excruciating memory lane. And she puts a question from ChatGPT to them, in light of George’s new gig. But which question is better? George reveals William Hague’s incredible method for making sure meetings run on time and Ed helps a Gold listener finally unde...

How has 2025 changed the outlook for Britain’s political parties? George Osborne and Ed Balls reflect on the events that have defined public opinion and led to unprecedented changes in the polls. What went wrong for Keir Starmer’s government? Why does Kemi Badenoch’s leadership now look more stable?  They also name what could potentially be the four most influential moments of 2026. Are losse...

George Osborne and Ed Balls reminisce on their most challenging interviewers…school children. George recalls being asked what seven times eight was, while Ed recounts misfires over school lunches. They also speculate on which Tory MP was glad to be sacked by Rishi Sunak… Elsewhere, they look at the peculiar case of the Canadian Conservatives where election loser Pierre Poilievre has continued on a...

What does the White House really think about Europe? George Osborne and Ed Balls take a look at President Trump’s new national strategy. George plays devil’s advocate for the plan, while Ed suggests that it could reveal JD Vance’s big strategy for 2028…  They then turn to the US domestic agenda, and weigh up whether the Trump economy really is A+++. They look at the impact of the tariffs, the...

Will any government be brave enough to abolish the triple lock on pensions? The cost-saving case has been made by many, but Ed Balls and George Osborne explain why it could be politically calamitous to try and ditch it.  They debate William Hague’s theory that, were Rachel Reeves sacked, Keir Starmer would follow and look back at how chancellors and Prime Minister’s fates have been intertwine...

The drama rages on, one week after Chancellor Rachel Reeves stood at the dispatch box to deliver her second Budget. Richard Hughes has resigned as OBR chair following the catastrophic budget leak and calls for Rachel Reeves to do the same have not let up. Ed Balls and George Osborne look at the “shambolic” fallout of the budget, and how Labour have once again grasped defeat from the jaws of victor...

How many times did Gordon Brown save Tony Blair from a calamitous decision? Ed Balls and George Osborne recount the times chancellors stepped in to save their PM from disaster. Does George wish he'd done it a bit more with David Cameron? And why does the Opposition leader respond to the budget and not the shadow chancellor? Ed and George try to work it out, but are not quite sure themselves - plea...