Political Currency

Keir Starmer has weathered one of the most brutal weeks of his tenure. The Caerphilly by-election collapse, a divisive Deputy Leadership election, and the mistaken release of a high-risk prisoner have ignited leadership speculation and exposed deep party tensions. Ed Balls and George Osborne debate where it's all gone wrong, and whether Starmer can hold on. The pair then look ahead to the Budget a...

Is the centre ground of British politics dead? A 15-year-old listener challenges George Osborne and Ed Balls on the surge of Reform and the Greens, forcing them to ask if the centre can truly fight back against populism. And why are bats, newts, and even spiders causing such chaos for British planning? The pair dive into the costly industry of species protection, discussing hundred-million-pound b...

As Chancellor Rachel Reeves prepares for a tough Budget, a new narrative is emerging: it's all Brexit's fault. Ed Balls and George Osborne examine whether the 'Brexit blame game' is a smart political strategy or a 'backward-looking excuse' that voters won't buy. And they discuss if it's too late for Labour to build a compelling economic story. Then, the pair dive into the 'appalling' turmoil insid...

Could Ed Balls ever be tempted to become a Tory? And would George Osborne ever consider joining the Labour Party? The pair are forced to confront the ultimate political taboo after a listener asks if they could “pull a Winston Churchill” and cross the floor. George also recounts his recent on-stage reunion with Sir Nick Clegg, discussing with Ed whether the UK is destined for a multi-party system...

Has the collapse of the China spy trial permanently damaged the Prime Minister? Ed Balls and George Osborne discuss how the ongoing saga of who knew what and when is causing untold damage to the Government. And as Donald Trump declares ‘a new dawn’ in the Middle East, with the ceasefire appearing to be holding in Gaza, the pair debate if the US President should get the Nobel peace prize and whethe...

Is the modern Conservative Party a repudiation of the Cameron-Osborne years? George Osborne is challenged by Ed Davey, who asks him to consider whether Kemi Badenoch's leadership means there's no place for him in the party he once helped lead. Then, Ed Balls sets the record straight on one of New Labour's defining policies, revealing the true story behind making the Bank of England independent and...

Empty chairs, misspelling Britain, and a surprisingly good speech from Kemi Badenoch have brought a rollercoaster Conservative conference to a close. Ed Balls and George Osborne weigh up whether the highs outweighed the lows and ask if Badenoch has bought herself more time. And, with the threat from Reform looming, they ask: is a pact still on the table? The pair then dissect one of the conference...

Why is New Labour suddenly going viral on TikTok? In this week’s Ex-Ministers’ Questions, Ed Balls and George Osborne respond to their Gen Z fans who are remixing their greatest political moments into social media edits. With Labour conference just finished, Ed and George ask whether Keir Starmer is really a Blairite, a Brownite, or breaking with New Labour altogether. They also debate what Starme...

Keir Starmer went into the Labour Party Conference in a perilous position, fighting off a 'rolling assault' from within his own party. In a make-or-break speech, he shifted his fire from the Conservatives to a new opponent: Nigel Farage. Was this a clever tactic to unite his base and redefine the political battlefield, or a risky gamble that elevates his rival? George Osborne and Ed Balls analyse...

When does a party conference go well? And when does disaster strike? Ahead of the main party conferences, Ed Balls and George Osborne dive into their memories to reveal what really happens behind the scenes. From George's first job as a Tory 'observer' faxing Tony Blair's speeches to No. 10, to Ed staying up so late he saw the breakfast TV crews setting up, they share the ultimate insider's guide...

Donald Trump's wild speech at the UN General Assembly has done more than just cause a diplomatic headache; it's exposed the deep tensions simmering just below the surface of Keir Starmer's government. His attack on Sadiq Khan saw senior ministers like Wes Streeting and Shabana Mahmood scrambling to respond, raising the question: in a party rife with leadership speculation, is loyalty still the bes...

Richard Curtis, rom-com extraordinaire who put Notting Hill on the map is asking a question this week: he wants to know what areas Ed Balls and George Osborne are seeing progress and hope. Doom, gloom and cynicism are on hold - for a week, at least - for the pair to consider some more optimistic matters. Ed is hopeful about advancements on taking on diseases, while George considers the steps techn...

President Donald Trump is in town, so it’s back to Windsor Castle for our Ed Balls! A podcast recording the morning after a lavish state banquet? Not a problem, it’s all par for the course for Ed, who has apparently been catching up on Downton Abbey in preparation. He brought George Osborne up to speed on the events of the evening; who sat where and did he get to say hello to the 47th president?&n...

What really happens in the frantic first 24 hours of a new government job? This week on Ex-Ministers’ Questions , Ed Balls and George Osborne lift the lid on the art of political survival. From the scramble of last-minute briefings to the insider secrets government drivers know before their ministers do, they swap stories on navigating the chaos of a reshuffle. Then it’s from the Cabinet Office to...

Peter Mandelson, the so-called “Prince of Darkness” got sacked this morning, thanks to fresh revelations of his lengthy friendship with sex offender Jeffrey Epstein. Now all eyes are turning to his replacement … Could George Osborne himself be getting the call up for US Ambassador? He and Ed Balls consider what this sudden, inglorious end for Mandelson’s diplomatic career means for the government....

How should a politician respond when a voter blames all their problems on immigration? In this week's Ex-Ministers' Questions, Ed Balls and George Osborne offer competing strategies for handling difficult conversations on the doorstep. They also tackle a stark warning from a Gen Z listener: is the political establishment's failure to listen pushing an entire generation of young people towards Nige...

Politics is back with a bang, and so are Ed Balls and George Osborne. As Keir Starmer declares "phase two" of his government, he's immediately engulfed by a scandal that threatens his Deputy Prime Minister, Angela Rayner. In this episode, Ed and George dissect her complicated tax affairs, the accusations of hypocrisy, and the difficult choice facing the Prime Minister: is she too powerful to sack?...

What if the great 'what if' moments of recent British history had turned out differently? Ed Balls and George Osborne dive into the political sliding doors that could have rewritten the last three decades. They debate whether Margaret Thatcher would have won the 1992 election if she hadn't been ousted, and how her legacy would have been transformed. Ed gives a behind-the-scenes account of the Blai...

Political Currency’s summer specials continue! This week, while Ed Balls is away, George Osborne is joined by one of Labour's longest-serving and most compelling figures, Dame Emily Thornberry. Thornberry takes George inside the Corbyn-era shadow cabinet and explores the tantalising 'what if' of 2017: what would a Prime Minister Corbyn really have been like, and how would the British state have co...

What are the essential skills for a life in politics? In an age of TikTok soundbites, can a single speech in Parliament still change minds and topple a government? Ed Balls and George Osborne dive into the art of political craft, taking questions on the real-world impact of parliamentary debates, the secrets to managing a ministerial diary, and the constant balancing act between cabinet duties and...

What is it really like to go from nine years in the political wilderness to running one of the most challenging departments in government? For Wes Streeting, Labour's Secretary of State for Health, it's a challenge he has been visibly relishing this past year, after a long, frustrating period fighting from the opposition benches. With Ed Balls away interrailing, Streeting joins George Osborne to g...

Why do the concerns of young people barely register in political debate? Ed Balls and George Osborne take questions on the widening gap between the careers young people dream of and the jobs actually available, and why debt, unaffordable housing and the loss of defined benefit pensions leave the next generation feeling shortchanged. They discuss whether the government should take more responsibili...

While George Osborne is away “stirring the pot” (this time with JD Vance),Ed Balls is joined by author and columnist Sarah Vine for a powerfully candid conversation about her explosive memoir, How Not to Be a Political Wife. Sarah gives the unfiltered story of her marriage and divorce from Michael Gove, revealing how the "toxic culture" of Westminster shattered friendships with the Camerons, took...

Why haven’t Ed Balls or George Osborne written political memoirs? Broadcaster Iain Dale puts the question to them, asking what’s stopping them, what they’d reveal if they did, and whether political history is incomplete without their accounts. And another listener digs into a moment of political tension between Ed and Tony Blair over the Euro. Did Steve Richards’s book Turning Points get it right,...

Kwasi Kwarteng reflects on what went wrong. The former Chancellor joins Ed Balls to talk through the decisions behind the Truss mini-budget - from bypassing the OBR to what he now calls its “real intellectual failing.” He explains why the Bank of England’s intervention “killed the government,” and why he believes his sacking was no coincidence. Kwarteng also looks ahead, urging the Conservative Pa...