Persephonica

Political Currency

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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.uk Find us on socia...

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Persephonica

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News

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Latest episode

Jul 9, 2026

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Episodes

EMQs: Can we get young people back to work? 10.02.2025

This week, Ed Balls and George Osborne take on some of the most difficult challenges facing society today. With millions of people of working age not in a job - officially called economically inactive - the pair consider the current costs to society and how to fix them. Columnist for the Times and former MP Matthew Parris asks George directly: Didn’t he see this coming with the introduction of per...

Will the Tories fall for Keir Starmers EU trap? 06.02.2025

Keir Starmer has been in Brussels this week, meeting with European Union leaders with the view to resetting the relationship with the bloc. George Osborne and Ed Balls ask, is it making good on a campaign promise? Is it to shore up UK-EU relations as President Donald Trump runs wild with tariffs? Or, is it a perfect opportunity to lay the perfect trap for the Conservatives …  Trump’s decision...

EMQs: Should we want Donald Trump to succeed? 03.02.2025

This week Ed Balls and George Osborne look at what makes a smart, successful opposition party. Is disagreeing with everything the government of the day says the best way to do it? Or are there some judicious, selective compromises to be made? And who are the best examples of politicians who’ve made some well played, cross party agreements?  Amid global tumult, they consider the question: is d...

Can extremism amongst young men be stopped? 30.01.2025

In the wake of the horrific Southport attack, George Osborne and Ed Balls consider the parameters of the upcoming inquiry and the intensifying concern about young men engaging in acts of violence. Should the definition of extremism be changed with the so-called manosphere in mind? And do we need new rules for reporting on major crime for our social media age?  And the pair mull over Rachel Re...

EMQs: Should David Beckham be knighted? 27.01.2025

A somewhat sporty one this episode, as in the wake of a Davos meet, George Osborne and Ed Balls consider: Why hasn’t David Beckham been knighted yet? Lady Posh Spice would just sound so good.  Meanwhile, Former Minister for Sport Tracey Crouch asks if there’s any way to keep politics out of sport under Trump’s presidency. With a World Cup and an Olympics games in the US this year, what will b...

Trump's tech supremacy era begins? 23.01.2025

President Trump has had a big week, what with an inauguration and then signing a myriad of actions in his first days in office - never mind the move to US tech supremacy. After a big start, Ed Balls and George Osborne ask whether he can sustain the political honeymoon, or if this will be a very different Trump presidency, marred by the reality of being a populist President in office.  Meanwhi...

EMQs: Could Ed Davey’s EU plan actually work? 20.01.2025

With Donald Trump back in the White House as of Monday, leader of the Liberal Democrats Ed Davey has called in to ask: In strengthening the nation's negotiating hand with the new American leadership, is there a case for rejoining the EU customs union? George Osborne and Ed Balls discuss whether he's on to something - and whether there's any way it could happen under a Starmer government. Meanwhile...

Should Starmer replace Reeves? 15.01.2025

After a tough week, Keir Starmer’s been forced to publicly proclaim Rachel Reeves has his full support – and to hose down suggestions she won’t make the full parliament. Ed Balls and George Osborne weigh in on just how politically fatal it would be to ditch a Chancellor six months into the Labour leadership.  The second Trump presidency is now a matter of days away, so how will this new Ameri...

EMQs: Time to take Trump seriously? 13.01.2025

George Osborne and Ed Balls are back for their first round of questions of the year, ready to mull the big conundrums of 2025! Craig Oliver, former director of Politics and Communications in David Cameron’s No 10, asks the pair to weigh in on the upcoming Trump Presidency. Do we need to take him seriously – and literally – this time around?  In the wake of our Inside No 10: David Cameron - Th...

Reeves’ bond market headache 09.01.2025

Is Rachel Reeves starting 2025 with a bond market headache? Ed Balls and George Osborne explain how global trends and UK inflation might just mean she’s boxed herself in… again.  Meanwhile, Elon Musk’s growing interest in British politics – and hatred of Keir Starmer – has erupted into a row over the grooming gangs scandal. What would Ed and George do in Starmer’s position? And what are the l...

Inside No 10: David Cameron - The First Six Months (Part 3: The World Stage) 06.01.2025

How do you position yourself on the world stage? David Cameron might have been Prime Minister of the United Kingdom, but in this third episode he shares with Ed Balls and George Osborne the true reality of leading a small country in a big world. British soldiers in Afghanistan; Relations with China; The beginnings of a rupture in the UK-EU relationship. And he shares the more personal moments - li...

Inside No 10: David Cameron - The First Six Months (Part 2: The Austerity Budget) 02.01.2025

How do you prepare the country for austerity? David Cameron joins Ed Balls and George Osborne to step back to the 2010 budget. From the true relationship between a Prime Minister and his Chancellor, to the careful decisions on departmental spending, to the very difficult task of selling cuts to a country that doesn’t want them, this is the reality of a Prime Minister before a government-defining f...

Inside No 10: David Cameron - The First Six Months (Part 1: Prime Minister at last) 30.12.2024

What’s it really like to step through the black door of No 10 for the first time as Prime Minister? Ed Balls and George Osborne ask David Cameron about his “out-of-body” experience on the way to the palace, plus what it’s like organising a staff team who have just had to say goodbye to a government. They discuss how to handle the top job when life starts relentlessly throwing events at you, the su...

EMQs: 2025, The Comeback Year? 26.12.2024

This Boxing Day, George Osborne and Ed Balls pop the champagne and turn their minds to the year ahead. Good Morning Britain's Kate Garraway asks: What could Labour achieve in 2025 that would earn it Ed and George’s seal of approval? And what are they personally looking forward to in the coming year?  Meanwhile, Conservative Member of Parliament Laura Trott, Shadow Education Secretary, has run...

EMQs: Christmas crises and cracker etiquette 23.12.2024

Christmas is just days away now, so Ed Balls and George Osborne are getting into the season by reflecting on Christmas-time political emergencies that have interrupted the festivities over the years.  Meanwhile, Claudia Winkleman makes a guest appearance to ask the pair to weigh in on important matters: Should one read the joke first or place the crown after pulling a Christmas cracker? She a...

A lump of coal for Waspi women? 19.12.2024

David Cameron is revealed as our very special guest on Inside No 10: David Cameron - The First Six Months, out 30th December. Follow us wherever you get your podcasts to make sure you don’t miss this incredible conversation about what it really takes to run the government.  📺: Watch the trailer now! Plus: An alleged spy scandal that reportedly ensnared Prince Andrew has Ed Balls and George O...

EMQs: Political Mishearings 16.12.2024

This week, George Osborne and Ed Balls consider: should economic decisions be confined to the Treasury and the Prime Minister? Or is the room for wider cabinet discussion?  Meanwhile, Lyanne Nicholl, the CEO of 50:50 Parliament – an organisation dedicated to driving more female representation in government – asks Ed and George to share their most positive words of wisdom for someone weighing...

Starmer’s blame game 12.12.2024

Keir Starmer is working hard to shift the narrative on his government from gloomy tax raiders to optimistic change makers. Ed Balls and George Osborne asses whether he’s leaning too hard into blame. Does he need to stop the finger pointing and get on and deliver? Bashar al-Assad’s regime in Syria collapsed this week — a sudden, stunning end to the Assad family’s five-decade reign. Ed and George re...

EMQs: Can one person flip an election? 09.12.2024

Who are the individuals who’ve influenced elections in the same way as Elon Musk? Ed Balls and George Osborne run through some of the great drivers of political results over the years - from people on the street to press barons.  Plus, with our Inside The Room miniseries with Nicola Sturgeon now wrapped up, George and Ed take listener questions on the matter of the 2014 referendum and the ong...

Why Starmer shouldn’t underestimate Elon Musk 04.12.2024

After helping to secure a victory for Donald Trump in the US election Elon Musk is seemingly setting his sights on the UK and Reform. Ed Balls and George Osborne take stock of whether Keir Starmer and Kemi Badenoch should be worried. Is this another sign of the end of the two-party system? The historic vote on assisted dying last week has brought a whole new set of questions and challenges for the...

Inside The Room: The Scottish Independence Referendum (Part 3: The result) 03.12.2024

A decade ago, the Scottish people went to the polls for a referendum vote to make a choice: should the country break free of the United Kingdom? Ultimately, they voted to stay by a resounding margin – crushing the hopes of the Scottish National Party and soothing the fears of the British government of the day. But the issue of Independence continues to divide, and in this special miniseries, Georg...

Inside The Room: The Scottish Independence Referendum (Part 2: The unanswerable question) 02.12.2024

A decade ago, the Scottish people went to the polls for a referendum vote to make a choice: should the country break free of the United Kingdom? Ultimately, they voted to stay by a resounding margin – crushing the hopes of the Scottish National Party and soothing the fears of the British government of the day. But the issue of Independence continues to divide, and in this special miniseries, Georg...

Trump the peacemaker? 28.11.2024

Joe Biden's White House days are numbered, and he appears to be scrambling to secure his legacy. With a ceasefire just brokered between Israel and Lebanon, George Osborne and Ed Balls ask: What kind of influence is the returning President Trump already having on foreign policy? How is the transition really working? And what does this mean for the conflict in Ukraine? Is the Trump effect forcing wo...

Inside The Room: The Scottish Independence Referendum (Part 1: The vote is granted) 25.11.2024

A decade ago, the Scottish people went to the polls for a referendum vote to make a choice: should the country break free of the United Kingdom? Ultimately, they voted to stay by a resounding margin – crushing the hopes of the Scottish National Party and soothing the fears of the British government of the day. But the issue of Independence continues to divide, and in this special miniseries, Georg...

John Prescott: The punchy political powerhouse we knew 21.11.2024

Former deputy prime minister John Prescott died yesterday at the age of 86. Often described as a ‘political bruiser’, Ed Balls and George Osborne remember Prescott differently: as a policy powerhouse and as a skilled negotiator between Blair and Brown. Does a comparable player exist in today’s Labour government? And, Ed recalls the moment he was involved in a car chase with ‘Two Jags’ himself. Wit...

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