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

Will Rachel Reeves be forced to U-turn on winter fuel payments? 05.09.2024

Ed and George are reunited to mull over whether Rachel Reeves should make a U-turn on the winter fuel payment furore. Is there an "escape route" she can take? And they examine the government’s decision to suspend some arms shipments to Israel. Was it really “a legal decision, not a policy decision”, as the PM has claimed? Finally, we ask whether central bankers deserve the credit for falling infla...

Summer EMQs: Where are all the great parliamentary orators? 02.09.2024

Where are all the great parliamentary speakers like Gordon Brown, Robin Cook, and William Hague? Ed Balls and George Osborne reflect on fond memories within the chambers like Cook’s resignation. Will the Tory leadership contest bring in any new contenders? Plus, what determines seating order in commons? Can live fact checking during PMQs work? What actually is a three line whip? And how risky is i...

Osbornomics, Oasis, and Opposition 29.08.2024

The summer holidays are over, if Keir Starmer’s speech this week was anything to go by. Is he stepping into Osbornomics strike two? Whilst Ed Balls is still on holiday, George Osborne is joined by Chief Executive of Labour Together, Jonathan Ashworth, to reveal what’s going on behind the scenes as the government returns to Westminster.  In a quick turnaround, Starmer was next spotted in Germa...

Summer EMQs: Who really runs the country? 26.08.2024

Are the civil service the real brains behind the government? What role does a Chief of Staff play? And what on earth do government ministers do all day? Ed Balls and George Osborne are tackling your questions on the ins-and-outs of the daily grind of running the country - from official residences to avoiding gimmicks.  You could have been listening to this episode of EMQs early and ad-free! B...

Are the Democrats celebrating too soon? 22.08.2024

The Democratic National Convention is underway in Chicago with jubilant scenes. Fortunately for us - while Ed Balls is on holiday - George Osborne has persuaded former shadow Paymaster General Jonathan Ashworth to be Political Currency’s eyes and ears on the ground as Kamala Harris looks to become the Democratic Party’s formal presidential nominee. But are spirits just a little too high for what i...

Summer EMQs: Was Austerity a Mistake? 19.08.2024

Should Labour have defended themselves better against the Tory claim that they’d caused the 2010 UK financial position? Ed Balls and George Osborne go head-to-head on who was to blame, and whether austerity was the answer in this special fiscal policy-themed edition of EMQs.  It’s not all debate though - Ed and George explain the concept of ‘running out of money’, and how much of a previous g...

The secret to launching a political career 15.08.2024

It’s results day and while students across the country celebrate their A-levels, BTEC and T-levels, university funding has come back into the limelight. And what’s better than one former education minister? Two! Gillian Keegan is sitting in for George this week, and she and Ed Balls consider the best course of action to make the education sector pay for itself.  Plus, Gillian makes her c...

Summer EMQs: The Political Currency constituency 12.08.2024

Ed Balls and George Osborne answer questions from the EMQs archive - this week, an insider’s guide to a life political. Is a u-turn ever the right thing to do? How does the Prime Minister know whose question to answer at a press conference? And is it fair to say that all politicians are just in it for themselves?  Plus, Ed makes his predictions for the next shock-exit politician to follow in...

Should the Tories stop chasing Reform voters? 08.08.2024

Britain braced itself for widespread rioting and anti-immigration demonstrations, with shops boarding up their storefronts and commuters told to take care on their way home. Instead, a pushback from counter protestors and a heavy police presence largely quelled any violence. Ed Balls and Grant Shapps – who is in the seat for George Osborne – consider how Keir Starmer has handled the situation. Gra...

EMQs: Summer Recess Buddies 05.08.2024

Ed and George are going on a summer holiday… and Ed’s GMB co-host Ranvir Singh wonders, if they had to take a trip with a member of the opposition, who would it be? Whoever Ed chooses will have an interesting outfit to look forward to, as he reveals his holiday get-up to a somewhat stunned George.  We’ve had a question from another member of gazebo man’s family - and this time, his dad wants...

Rachel Reeves: The next austerity chancellor? 01.08.2024

In the wake of the tragic events this week in Southport, and the eruption of riots that followed, Ed Balls and George Osborne consider how MPs should confront violence and disinformation – all while keeping to the rules. George wonders if courts should update reporting restrictions in a social media age, while Ed cautions that no politician ever wants to jeopardise a criminal trial. George is clea...

EMQs: Celebs go politicking 29.07.2024

Could we see celebrities swapping the silver screen, football pitch or concert stage for the hallowed halls of Westminster? Ed Balls and George Osborne recall stars who have previously made the switch – does anybody ever really pull it off? And, our hosts have got Paris 2024 fever as they look back on their favourite Olympic moments from London 2012. As athletes prepare to compete on the world sta...

Starmer, Strictly and Summer of Brat 24.07.2024

The world is braced for a brat summer as Kamala Harris steps in for Joe Biden as the Democratic presidential candidate - George Osborne and Ed Balls consider whether the fevered KHive reaction spells success, or simply masks the very real challenge ahead.  In Labour land, Rachel Reeves is preparing her statement on the fiscal reality the government faces, all in the shadow of seven Labour MPs...

EMQs: Are you ready for ID cards? 22.07.2024

How important is it to have a leader who ‘turns you on”? Are ID cards essential in a new world of AI and deep fakes, or are they a waste of government time and money? And should you be made to vote? Plus, if you’ve got a speech to deliver in the near future, Ed Balls and George Osborne give their best guide to public speaking. You’re welcome. You could have been listening to this episode of EMQs e...

Meet JD Vance, Trump’s VP and George Osborne’s friend 18.07.2024

It was a bonkers week for American politics, on both sides. Team Trump went from an assassination attempt in Pennsylvania to a fiery convention in Wisconsin. Biden’s camp had NATO, fresh calls for him to drop out of the race and a Covid diagnosis to round it off, all in a matter of days. And amongst it all, a fresh political operative came into the limelight: Donald Trump’s newly-named running mat...

EMQs: Political Football 15.07.2024

As England heads to the final of Euro 2024 - are the politicians who claim to love the beautiful game faking it for political gain? We’ve seen Keir Starmer’s new ministerial appointments - but what on earth do all these snappily named secretaries, under-secretaries, and private secretaries actually do? If there’s one thing Ed Balls and George Osborne love, it’s a deep dive into the inner workings...

Inside the race to lead the Tory party 11.07.2024

While Keir Starmer gets on with the business of naming ministers and settling in at Number 10, the Tories are picking up the pieces of their shattered party and considering the best person to turn the ship around. So who is the new Rishi? Is it Kemi, Suella, Priti? Whoever gets the top job needs to be a healer, George says, and not a warrior.  Meanwhile, winning a campaign is one thing, stayi...

Will Starmer’s 'GOAT' cabinet succeed? 08.07.2024

A brand new cohort of MPs have descended on Westminster today and with them comes a flurry of policy announcements. What does Keir Starmer’s cabinet say about the kind of Prime Minister he wants to be? And might he regret some of the very ambitious changes his ministers are making? The last Labour government was defined by foreign policy. So what are the big forces which could shape the future of...

Inside Starmer’s No. 10 05.07.2024

A new dawn, a new day, and a new government. Not quite Blair ‘97, Ed Balls and George give us the inside track on exactly how things are playing out inside No. 10 Downing Street right now. From cabinet appointments to civil servants, this is the guide you need.   But Keir Starmer’s landslide is just one half of the story today - the Tory and SNP downfall and the rise of Reform tell their...

What REALLY happens on polling day? 03.07.2024

They think it’s all over… it is now! No really, that’s the actual line from the Conservative party as they send out the hardest worker of this campaign, Mel Stride, to concede a full 24 hours before voters go to the polls. Ed Balls and George Osborne question whether the move will just serve to put even more potential Tory voters off. The winner might be considered a foregone conclusion at this st...

Can Starmer work with Trump and Le Pen? 02.07.2024

T-3 days until polls open and if England’s efforts in the Euros are anything to go by, there’s no predicting what could happen between now and then… at least, that seems to be what Rishi Sunak is hoping. Ed Balls and George Osborne aren’t so sure. As final Party Political Broadcasts go out and an ever-more-desperate message comes from Tory HQ, is it time to call Sunak’s early election a failure? A...

EMQs: Is Rishi California Dreamin’? 30.06.2024

Is Rishi Sunak California dreamin’ of a post-PM life? Or are the rolling hills of Yorkshire calling him to stick around? Ed Balls and George Osborne ponder what the Prime Minister will do next if he loses his premiership next week. How can good polling change an election outcome? And what does the cost of living crisis actually mean? Plus, they give their best advice for making it through the elec...

Is Labour's honeymoon already over? 27.06.2024

The final week of election campaigning is here! Keir Starmer hasn't even measured up for curtains in Downing Street yet, but the attention is already turning to the headaches he will face in government. After a wobbly final debate performance against Rishi Sunak, Ed Balls wonders if the Labour leader can ever go for the jugular when it counts. Then there's the markets. Keir Starmer and Rachel Reev...

ELECTION EXTRA: Farage’s Russian gambit 25.06.2024

With the general election in sight, has Nigel Farage made a campaign misstep? His claim that the west provoked the Russian invasion of Ukraine has been met with international indignation – but will it have any on his polling? And as we enter the final 10 days of campaigning, things aren’t looking great over at Conservative HQ – has Rishi Sunak accepted his party’s dismal fate? The Tory leader appe...

EMQs: Political porkies and party people 23.06.2024

Will shy Tories (or Reform UK-ers) deny Keir Starmer his landslide? If not, who should the Conservatives install as leader to provide stability – perhaps somebody with international and domestic credibility... say ... David Cameron? Plus, does your postal vote count if you die before the big day? And, who would you invite to your ultimate political party? Please make sure you’ve got your karaoke s...

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