Political Currency

What is the real purpose of Prime Minister's Questions? As an ‘infuriated' listener asks why the Speaker can't force politicians to answer, George Osborne breaks down why PMQs is ‘political theatre' and what most people misunderstand about it, while Ed Balls explains why David Lammy's recent performance revealed the real procedural power the Speaker holds.Then, prompted by a question from Shadow Cabinet minister Victoria Atkins, the pair break down when cross-party support actually works, and when it's just a ‘bear trap' for the opposition.And, reporting from the COP summit in Brazil, the hosts of the Outrage & Optimism podcast ask why the UK failed to put money into the 'Tropical Forests Forever' facility, leading Ed and George to discuss the 'crumbled' political consensus on foreign aid.Finally, the pair delve into the reality of rejoining the EU. Could the UK get the same deal as before? And what's the real obstacle to rejoining - could it be the Euro, the non-negotiable issue of free movement, or something else altogether?Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

A bizarre briefing war has exploded in Westminster, with Wes Streeting accused of plotting a coup against Keir Starmer. Ed Balls and George Osborne analyse the ‘toxic culture' in Number 10: who was really behind the briefing, and has this ‘self-destructive' move inadvertently strengthened Streeting while fatally weakening the Prime Minister?Meanwhile, the BBC is in turmoil, with its Director General and Head of News resigning over the Donald Trump Panorama controversy. With George himself now tipped for the top job, the pair unpack the corporate governance collapse. And, can Donald Trump really win his $1 billion lawsuit against the British broadcaster?Finally, Ed and George turn to Donald Trump snubbing the G20 over his claims of a "genocide" in South Africa. They explore the deepening divisions in the MAGA movement over controversial figures like Nick Fuentes, and ask if this identity politics of the "woke right" is a brand that Nigel Farage is about to import to the UK.Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

What political rival would you share a 12-hour flight with? Ed Balls and George Osborne dive into this very question, revealing the old foes and opposite numbers who would make the best long-haul companions.And can an unpopular leader tank a popular policy? The pair debate how a leader's image affects a government, and whether an unpopular messenger will derail a popular message no matter what. They also examine the meaning of 'fairness' in politics, and whether Labour or the Tories can truly lay claim to the term.Finally, Ed's new title as a "Lifelong Learning Ambassador" sparks a discussion on the 'Cinderella service' of adult skills and why no government can seem to get it right.Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

Rachel Reeves has set the stage for a dramatic Budget, seemingly signaling a "massive political gamble" by preparing to raise taxes on working people. Ed Balls and George Osborne analyse her pitch-rolling: has she boxed herself in, becoming the market's "guarantor" against her own party? And can she possibly sell this to an already-squeezed public?Meanwhile, Kemi Badenoch marks one year as Conservative leader - but, despite her sharp "waffle bomb" attack on the Chancellor, her poll ratings remain dire. Ed and George assess her performance: has she successfully stabilised the party's finances, or did she waste a year on identity politics instead of the economy? Plus, the pair explore why even Nigel Farage is suddenly pivoting away from tax cuts.And, what can a "Democratic Socialist" mayor in New York teach UK politics? Ed and George debate the real lessons from Zoran Mandani's shock victory - is it about left-wing policy, or a masterclass in new communication and building the broad coalitions that Starmer, Badenoch, and Farage all need?Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

Why won't Labour make rejoining the EU its new "silver bullet" against Nigel Farage? A listener challenges Ed Balls and George Osborne on tackling the "political third rail" of Brexit. Ed argues the EU wouldn't even want the UK back on its old terms - likely forcing the Euro and Schengen - while George predicts Britain will inevitably "creep back" towards the Single Market.Then, a direct question from the Gates Foundation confronts the former Chancellors on the 40% cut to foreign aid. George, the Chancellor who delivered the 0.7% target, blasts the "remarkably silent" and "compliant" aid community, delivering a stark warning to "get louder" or face even more cuts.Plus, with Tess Daly and Claudia Winkleman stepping down, could Ed and George be the new hosts of Strictly Come Dancing? The pair reveal how unscripted the podcast really is, George shares his favorite TikTok restaurant reviewer, and Ed reacts to his "hot phase" going viral on social media…Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

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 and Rachel Reeves's fiscal black hole. Can she uphold Labour's 'tax lock' manifesto pledge, or will she be forced to raise one of the 'big three' taxes? Ed and George analyse a choice that could be make-or-break for the government.Finally, they dive into Donald Trump's whirlwind Asia tour. Following his major summit with Xi Jinping, they ask: is his tariff doctrine a chaotic madman theory, or is it successfully strong-arming new 'America First' trade deals?Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

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 bat tunnels, a town centre stopped by spiders, and historic dockyards left unrenovated due to nesting birds.Plus, the real historical reason for Parliament's subsidised bars, ‘sleepovers with mummies' at the British Museum and George sets the record straight on what he actually did in his second government job as First Secretary of State.Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

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 inside Keir Starmer's No. 10. Are 'staggering' and 'juvenile' briefings against the new Cabinet Secretary a sign of a government in chaos? And as the Prince Andrew saga dominates the headlines, they debate the 'endgame' for the Senior Royal and why George believes it's time for the Prime Minister to step in.Plus, with George reporting from San Francisco, the pair give their take on the AI boom. With 'eye-watering valuations' for companies like OpenAI, is the world on the verge of an AI bubble bursting?Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

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 and if coalition governments are a recipe for success or instability.Plus, the President of the National Farmers' Union directly challenges the hosts on the 'family farm tax,' asking whether the Treasury has become an impenetrable silo; could a stamp duty holiday solve the housing crisis; and why one listener has dubbed the podcast 'The Redemption of George Osborne'.Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

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 whether the UK government is ‘delusional' in thinking they had a hand in the process…Plus, with the larger parties not getting a look-in, will the Sennedd by-election in Wales next week be the beginning of the political earthquake that shakes the UK? Prompted by ITV Wales' National Correspondent Rob Osborne, Ed and George look at why Wales is often overlooked when it comes to nation-wide coverage and scrutiny. Thanks for listening. To get episodes early and ad-free join Political Currency Gold. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:

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 taking credit from both Gordon Brown and Tony Blair.Also on the agenda: the breaking of unwritten rules during party conference season, the politics of attending the Women's Rugby World Cup final, and the Brexit parallels of trying to reform the ECHR.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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's biggest bombshells: the pledge to leave the ECHR. Is this another Brexit-in-the-making, or a savvy political move? And could Keir Starmer, the former human rights lawyer, be the one person with the credibility to reform the system and solve one of his biggest political headaches?Plus, Ed and George dive into the Whitehall blame game over the collapsed China spy case. As the government's top figures point fingers, Ed reveals a stunning conspiracy theory about what might really be going on behind the scenes…To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 Starmer and Rachel Reeves need to do to put Scottish Labour back in contention at the Holyrood elections next May.And before the Conservative conference begins in Manchester, George warns that the second year in opposition is always worse than the first, and sets out how the Tories and Kemi Badenoch might plot a comeback.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 the strategy, the rhetoric, and whether the speech has truly changed anything outside the conference hall.And a bombshell has landed from Washington: Donald Trump, Benjamin Netanyahu, and the shock return of Tony Blair with a new Gaza peace plan. A week after clashing over whether the UK's role on the discussion around Palestine was irrelevant or a game-changer, Ed and George are back to debate who was right.Meanwhile, Chancellor Rachel Reeves quietly floats a major change to the UK's economic rulebook, proposing to scrap one of the OBR's two annual forecasts. Ed and George unpack a seemingly technical move with huge consequences for Britain's economic credibility.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 to navigating this political “goldfish bowl”.The pair are joined by special contributors with their own incredible stories: Lord Eric Pickles on his bizarre role managing Denis Thatcher's applause; Sir Oliver Letwin with a powerful, first-hand account of the 1984 Brighton bombing; and journalist Nick Robinson on the moment he confronted a furious Prime Minister. Plus, Ed and George discuss what separates a good conference from a disastrous one, and why you should always be careful what you say in the lift…To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 best strategy? With mounting speculation that Manchester Mayor Andy Burnham is gearing up for a leadership challenge, Ed Balls and George Osborne dig into the manoeuvres and what they signal about the stability of Starmer's leadership, in a week where the UK also made its historic move to recognise the Palestinian state.Meanwhile, another great challenge looms for the government: the economy. With a reported £30 billion fiscal hole to fill, could a controversial wealth tax be the answer? And as the government seeks to respond to pressure on migration, is a return to ID cards the right move? George thinks the time has come for a digital identity scheme, but Ed is deeply sceptical it can work…To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 technology has improved people's lives.Meanwhile, Sadiq Khan asks about what they love most about London (spoiler: the tube gets a mention), and Seyi Akiwowo, the director of Glitch, a non-profit organisation campaigning to end online abuse, gets Ed and George thinking about hopeful advice for those casting their first vote and finding their political voice.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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? It's hard to believe the US President's visit could be considered a reprieve for Prime Minister Keir Starmer after a grueling two weeks back from summer recess. Soon after Angela Rayner made her sudden, tax-enforced exit the government faced its next drama: US Ambassador Peter Mandelson and his long, email-documented friendship with sex offender Jeffrey Epstein. A deputy leadership contest, scrutiny over Mandelson vetting process and - in recent days - questions over whether Andy Burnham is gunning for Starmer's job… It should be catnip for leader of the Tories, Kemi Badenoch - except Danny Kruger's gone and spoiled it by defecting to Reform! Meanwhile, the Federal Reserve has cut rates for the first time this year - while the Bank of England is holding firm at 4%. Ed and George take stock of the global economic position and what's next for the bond market after its moment of tumult earlier this month … To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 the kitchen, as George grills Ed on one of Westminster's most notorious culinary conspiracies: Lasagna-gate. Was that dinner party at the Balls-Cooper house really a covert plot to bring down Ed Miliband?And after serving up some advice for a new podcasting rival, the duo look ahead: could a robot outshine a human as a political speechwriter? They put it to the test in real time, asking AI to pen a Shakespearean sonnet on the spot. The result? You'll have to hear it to believe it…To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 could this affect the all-important upcoming state visit from US President Donald Trump, who himself is facing questions around his links to Epstein? It's not the only tumult for Keir Starmer's government, that was hoping to reset its way into a calmer period. The deputy leadership contest in the wake of Angela Rayner's resignation is underway. Ed and George consider if this may be a bigger problem for Starmer than was bargained for? Could Bridget Phillipson vs. Lucy Powell in fact be a proxy for Keir Starmer vs. Andy Burnham?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 Nigel Farage?Then, the pair turn to the insider's playbook of political survival. They debate the pros and cons of the 'chicken run' - is it cowardly for a senior MP to abandon a marginal seat for a safe one, or simply smart politics? Ed reflects on his own experience of staying to fight a losing battle, while George makes the case for jumping ship.Plus, a listener's confession about leaking a story to a newspaper diary column prompts a hilarious look at political gaffes. Ed is forced to relive the moment his ministerial car door hit a pedestrian, and shares a mortifying story involving a fellow minister and a pole dancing pole.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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?Next, they unpack how Nigel Farage and Reform UK managed to dominate the entire summer. While the government was on holiday, Farage set the agenda on immigration, crime, and free speech. Ed and George explore how he did it, why the government and opposition struggled to respond, and how it fuels the dangerous "drain the swamp" narrative that ‘they're all as bad as each other'.Plus, the pair turn to Starmer's attempt to reset with a major reshuffle of his Downing Street operation. With a new comms chief, top economic advisors, and the creation of a brand-new role - Chief Secretary to the Prime Minister - will this shake-up provide the grip and purpose the government desperately needs? Or are they just rearranging the deckchairs?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 Blair-Brown transition and the so-called 'Curry House Plot', considering how Labour would have handled the 2008 financial crisis with Tony Blair still in No. 10. Then, the pair explore the huge question of whether Britain joining the Euro would have prevented Brexit, or simply led to a catastrophic economic crash.Plus, George reveals why he jumped for joy when Ed Miliband beat his brother David for the Labour leadership, and they discuss whether the result of that contest sealed Labour's fate in 2015.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 coped?From her unique vantage point as a senior backbencher, Thornberry offers a frank assessment of the new government's first year. She argues for more confidence and a clearer plan to tackle the problems Starmer's cabinet inherited, warning against being "buffeted about” by criticism. Throughout, she reflects on two decades in Parliament and why, despite rebellions and disappointments, she remains “Labour through and through”.Plus, Ed and George reunite to explain the brutal art of a government's first reshuffle. As Westminster braces for Sir Keir Starmer's first major shake-up, they reveal what it's really like to be hired, fired, and moved sideways by a Prime Minister.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 constituency work.They discuss historic interventions that shaped the nation, from Edward Heath's decisive speech on capital punishment to the Cromwellian phrase, “In the name of God, go,” which was famously used against Neville Chamberlain and Boris Johnson. They also share personal anecdotes about their first days as MPs, the importance of punctuality in a crisis, and the surprising truth about the bottled water in the Chancellor's office.Plus, find out which cabinet job is surprisingly one of the "easier ones" to manage and what really happens in the MPs' exclusive tea room.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 give him a candid inside look at Labour's first year in power, revealing what Keir Starmer is really like as a leader, the secret orders he gives his cabinet, and his ambitious plan to reform the NHS by shifting power to patients and focusing on prevention. Plus, he explains why he believes Nigel Farage and Reform UK are now the "real opposition" to the government.Plus, Ed and George reunite to pull back the curtain on a subject of endless obsession for politicians and the press: ministerial cars. The pair explain why a minister's driver knows more about them than their own family, how drivers' gossip can make or break a career, and share hilarious and shocking stories involving heavy petting, a disastrous escape from a prime ministerial motorcade, and fish and chips with Gordon Brown. They also offer some crucial advice for any aspiring minister on how not to behave in the back of a Jag…To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 responsibility for opening up opportunities and how early aspirations are shaped by who you know and what you see.Plus, they debate if Britain should rejoin Erasmus+, which politicians will still be remembered in 100 years, and what the future holds for our rivers and seas in the face of sewage pollution and hosepipe bans.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 a toll on her mental health, and why she considered Dominic Cummings the true "third person" in her marriage.Plus, Ed and George pull back the curtain on one of Westminster's most mysterious institutions: the Whips' Office. Forget the myths of blackmailers and dark arts; the pair explain what whips really do, what the "usual channels" are, and share the incredible theory of how one fateful appointment in 2014 may have inadvertently changed the course of British history and led to Brexit.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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, and what was really said in that meeting?Plus - the political fiction and non-fiction worth reading this summer, and whether George or Ed would ever dare to write a political thriller of their own.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

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 Party and Kemi Badenoch to focus on unity, and warning Rachel Reeves about the political cost of trying to rein in spending.Plus, Ed and George turn to political speechwriting. Who writes the big speeches? What makes them stick? And how do you find the right words for someone else? From Trump rallies to Gordon Brown's “no time for a novice,” the pair give us a peek inside the craft of effective political communication.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

The future of a two-state solution between Israel and Palestine comes into question this week, as Ed Balls and George Osborne respond to a listener asking whether Israeli public opinion has shifted irreversibly after the October 7th attacks. Is peace still possible, or has that hope died with the victims?Another listener shares a devastating story about her mother's death during the junior doctors' strikes, raising serious questions about end-of-life care and what, if anything, Wes Streeting can do to bring doctors back to work. Is palliative care in this country just a postcode lottery?Plus - a challenge from Emily Thornberry on who kept ministers in check when Ed and George were in power, why successive governments might have gambled away billions in debt costs, and political flights that changed careers and reshaped governments.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

The IMF has upgraded its global growth forecast - so things aren't quite as bleak as we feared. Still bleak, though.Ed Balls and George Osborne dig into what the numbers mean for Chancellor Rachel Reeves. With spending cuts ruled out and the Autumn Budget on the horizon, the question looms: can the government afford all it has promised? George thinks Reeves is avoiding the tough calls. Ed believes tax rises may be inevitable, unless Labour is willing to flirt with more debt and borrowing.Meanwhile, Keir Starmer has carefully negotiated an extraordinary weekend with the US President Donald Trump in Scotland, and has gone straight into a pledge to recognise the Palestinian state. What will this mean for the UK-US relationship?And with former Sun editor David Dinsmore appointed to shake up Downing Street comms, Ed and George reflect on what his appointment signals - and the risks when the people managing the message start making headlines themselves.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

The UK's high speed railway has been plagued with cost blowouts, delays and scale-backs - so Ed Balls and George Osborne consider: has it all just been a big waste of money? Couldn't those funds have been put to better use? Perhaps for the NHS, for example?The pair also consider the concept of age limits on voting. We've got a minimum age - recently lowered by Labour to 16 years old - so why not a maximum too? A listener asks: was it fair for those over 70 to have a say in the Brexit referendum, for example, while many people who were set to inherit a departure from Europe were at the time too young to make their voice heard?Plus - heckling moments of brutality and brilliance. A listener recalls a well-timed response to Jeremy Corbyn in the House of Commons - and asks Ed and George to reflect on memorable moments of perfect comedic timing at their own, or other politicians' expense.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Parliament has broken up for summer, but politics shows no sign of cooling down. Ed Balls and George Osborne run through the latest from every party - the Tories' frontbench reshuffle, Labour's mounting tensions over Gaza, Reform's approach to protests worries - all while the Greens and Lib Democrats make their moves. What's really going on as MPs head off for the break?Meanwhile, the crisis in Gaza is becoming impossible to ignore across the country. With heartbreaking images and rising calls from Labour MPs to recognise Palestine, Ed and George ask how long Starmer can hold his ground - and whether the pressure will become so intense it will force a change.Meanwhile, Donald Trump is heading to Scotland to open a new golf course - but this visit isn't just about sport. Scheduled private talks with Keir Starmer and John Swinney could have serious implications for trade and Middle East diplomacy. How should Starmer handle this high-stakes meeting?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

What should the NHS pay for, and what should it not? In this week's episode, Ed Balls and George Osborne tackle one of the toughest political questions: how do you decide what's “reasonable” for the state to fund when it comes to healthcare? As medical advances multiply and the public expects more from the NHS, is a national conversation about rationing unavoidable?Then, what happens when politicians leave office? A listener asks how Ed and George's lives outside Westminster - from Wall Street and museums to breakfast TV and Strictly Come Dancing - have changed how they see politics. Would they govern differently if they ever returned?Also this week: do the markets now have more power than elected governments? What should we expect from ministers on annual leave? And is there ever a good reason to read self-help books such as The 48 Laws of Power?Plus, what really happened in that lift in China with George Osborne and Boris Johnson?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Donald Trump wants to know why everyone won't just forget about the Epstein files already. As he keeps pointing out, the disgraced financier has been dead for years. But Trump himself stirred up fresh interest in a trove of documents that many hoped would reveal explosive new details. Now it looks like they won't be released after all - and the MAGA world isn't happy. Ed Balls and George Osborne ask: could this be the thing that finally turns Trump's base against him? And Andrew Bailey has sounded the alarm on banks issuing their own stablecoins. Is the UK risking being left behind on innovation in the financial services world? George doesn't want the UK to risk falling behind, but Ed thinks George as Chancellor would have sounded a very different note on crypto.And The UK and France have just signed the Northwood declaration, a new nuclear pact. So what does it signal about the state of French-British relations?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Which side of politics loves the monarchy more? Conventional wisdom says Conservatives are the monarchy's biggest fans. But are Ed Balls and George Osborne the exceptions to that rule? The pair explore how royalist sentiment plays out across the political spectrum, how long this current reign might last, and whether we'll ever see a King George.Then, it's onto a different question of longevity: what will it take for the Conservative Party to survive? Is the future in rebuilding the 2015 voter coalition of social liberals and economic conservatives? Or has that alignment passed its sell-by date? Ed and George debate whether One Nation Conservatism still has legs, or if the party is heading in a Reform-lite direction. Plus, what should Labour do next to avoid complacency after its 2024 landslide?And finally, parties of a different kind. A listener asks about the best parties they've ever been to. George plays it coy, but Ed eventually gets the details out of him - including a story or two from Madonna's legendary Oscars after party…To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

There was a lot of ceremony and back-patting this week as Emmanuel Macron visited the UK. But behind the smiles, thorny issues like migration and post-Brexit power dynamics are back on the table. George and Ed ask what this renewed Franco-British ‘friendship' really means, and whether it signals a serious reset or just more political theatre.Also this week, the pressure is piling on Rachel Reeves. With the UK's finances looking shakier and the OBR sounding the alarm, the debate over a wealth tax refuses to go away. Can Labour stick to its fiscal rules without making tough choices?And finally, another new political movement enters the fray. Jeremy Corbyn and Zarah Sultana are launching a new left-wing party, while Elon Musk teases his own ‘America Party' across the Atlantic. Ed and George ask, are we entering an era of DIY politics, driven by personality more than policy?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

What is a fair way to govern? In response to a long time listener who feels a victim of his own success – disproportionately hit by taxes and ineligible for certain benefits – Ed Balls explains three different philosophical concepts of ‘fairness'. George Osborne meanwhile dismisses wealth tax as a catch all solution, underlining how the Labour government must look to the broader population. Listeners are reflecting on Keir Starmer a year into his premiership, with some wondering about his core set of beliefs (or lack thereof) and others questioning their decision to lend him their vote. What can the PM do to inspire these wavering voters?Ed and George also note institutional differences in the role academics play in government. Why is an economic academic more likely to find a role in the US government or the Bank of England then in the UK cabinet? And who are the UK's Machiavelli-like politicians of recent times? Boris Johnson is dismissed as a candidate but Ed Balls nominates someone closer to home, suggesting that George Osborne may have pulled more strings in the Cameron government than we appreciated. To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Some incredible scenes in PMQs this week - in which Chancellor Rachel Reeves was openly crying - has Ed Balls and George Osborne considering just how bad things have got for the Labour government. Mere days after a dramatic climbdown over welfare reform, when the watered-down bill inched over the finish line amid threats of MP rebellion, the bond market slumped over speculation Reeves was facing the sack. Ed thinks it's been the worst week for Labour governments for a long time, and George thinks that, domestically at least, the government is now adrift. But the show must go on! French President Emmanuel Macron is due for a state visit next week, the first since President Nicholas Sarkozy's over a decade ago. Put aside the pressing political questions for more important matters - what is Ed going to wear to the big dinner at Windsor Castle? And, believe it or not, this week marks a whole year since the Starmer government took office. No doubt the PM is facing a slew of acute policy challenges, but has his personal approach and his leadership style shifted the course of the 12 months? Producer: Miriam Hall and Jarek ZabaVideo Editor: Danny PapeExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.

Is the G20 still a force for peace and diplomacy, or just a stage for political performance? Ed Balls and George Osborne kick off this week's EMQs with a question about nuclear non-proliferation and whether South Africa should push it up the agenda this year.The pair then turns to a question from regular listener Douglas Alexander, Minister of State for Trade Policy and Economic Security. Fresh off publishing the new trade strategy, he asks for George and Ed's take on what it gets right and whether the Conservatives ever had anything similar.And is there a way to make people see the value in their taxes? Maybe just a little? Ed and George weigh in on one of life's certainties, thanks to a question from a gold subscriber who received world class care at Great Ormond Street Hospital.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Daddy's back in the (White) House! Ed Balls and George Osborne go over the major event of the week - starting with the NATO meeting in The Hague. Allies have agreed to up defence spending to 5 percent, but that's not what's grabbing the headlines. More attention has been on new Secretary General Mark Rutte referring to Donald Trump as “Daddy.” The pair consider what's really at play here, and what Trump's return to the world stage could mean for the UK.Back home, the government is refusing to say whether the US bombing of Iran violated international law. What's the strategy in dodging the question? And how long can they keep it up?But it's not the only issue on their plate. Labour's big majority is looking a bit shakier as over 120 MPs line up to rebel over welfare reform. Is this Starmer's first real test? And what does it tell us about who's really in charge?Plus, Glastonbury gets dragged into the headlines again - this time over Irish rap group Kneecap. Are we in for another culture war summer?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

What happens when politics clashes with family life? Ed Balls and George Osborne take on big questions this week, starting with Michael Gove's ex-wife, Sarah Vine, who asks whether David Cameron should have stayed on after Brexit. Her daughter Beatrice wants to know if Ed and George would still choose a political career, given its toll on family and friends.The pair also hear from an anonymous listener fighting for answers about the Mull of Kintyre Chinook crash, and discuss why the documents have been sealed for a century and what that means for the families seeking the truth.Plus, a listener challenges the logic of ring-fencing certain government department in the Spending Review. And fellow podcaster Jimmy McCloughlin asks how AI is really shaking up the economy, and what Ed and George have been using it for lately.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Donald Trump is keeping everyone guessing on Iran. After Israel's surprise strike and Tehran's retaliation, George Osborne brings fresh insight from Washington on how far Trump might really go - and what it means for Britain if he does. Ed Balls asks whether Starmer's government could say no if the US wants to use British bases for strikes, and the pair unpack the real choices facing UK leaders caught between an unpredictable White House and deepening conflict in the Middle East.Back home, Keir Starmer has announced a long-demanded national inquiry into grooming gangs, after years of failures and political arguments about who knew what and when. Ed and George debate whether this is a moment of accountability or just another U-turn that risks backfiring.And Labour looks set to retreat on taxing non-doms' worldwide assets, amid signs the wealthy are packing up and moving out of London. Is this the only way to stop an exodus, or another blow to Labour's big fiscal promises?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Could a weekly grilling like Prime Minister's Questions fix US politics? In the wake of Original Sin - Jake Tapper and Alex Thompson's damning account of Joe Biden's final days in office - Ed Balls and George Osborne ask whether a PMQs-style showdown could bring more accountability to American democracy. And are there any American political customs they'd import to the UK in return?The pair then flick open their ministerial boxes: what's it like to carry one, what can one find inside and why has it never been replaced in the digital age for something more user-friendly? A red tablet perhaps? Speaking of opening up, George responds to Michael Gove's ex-wife Sarah Vine's claims in her recent memoir “How not to be a Political Wife” - did he really tell her to borrow some money from her father when she was in a financial bind?Plus - Giles Winn, Special Advisor to the Treasury under Philip Hammond, asks about soft diplomacy in an era of ramped-up military spending. With UCL, he just released a report, The Soft Power impact of The BBC World Service' - and he wants Ed and George to weigh in. And Christine Farquharson from the Institute for Fiscal Studies asks about the politics of the rise of Sure Start, which she recently evaluated alongside co-authors in this report.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Rachel Reeves has finally delivered her much-anticipated Spending Review, but has it done anything to shift Labour's story? George Osborne calls it “continuity Sunak,” arguing that the big spending pledges are less a break from the past and more a continuation of Boris Johnson and Rishi Sunak's economic path. Ed Balls says Reeves is taking ‘a real gamble' without ‘any insurance', boxing herself in with big promises, uncertain growth, and no room to manoeuvre.With defence and the NHS coming out on top, and departments like the Foreign Office facing deep cuts, what does this Review tell us about Labour's true priorities? And can the party really keep these pledges without raising taxes or breaking its own fiscal rules?Meanwhile, across the Atlantic, Donald Trump is making headlines once again, this time for turning on his old ally Elon Musk and deploying troops into LA over immigration protests. Ed and George assess what it all means for the UK's relationship with Trump, the future of US-UK diplomacy, and Starmer's carefully built transatlantic strategy.To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Two Members of Parliament (and a former too!) are seeking Ed Balls' and George Osborne's counsel this week. The pair consider the impact of AI, courtesy of a question from Alan Mak, the MP for Havant and the Shadow Secretary of State for Science, Innovation and Technology - who has rung in to ask how emerging technologies can help governments run better. Meanwhile, Jake Richards, a newly elected Labour member, wants their views on immigration policy.And Ed and George are live, unscripted, and face-to-face for the first time - answering questions at the SXSW festival. The pair consider how best to handle a political sacking - would a couple of sherries help? Or should one invest in a coffee machine so you never have to leave the house? They also mull the value of a Politics, Philosophy and Economics (PPE) degree. Plus, they share their favourite political jokes, and the role of humor and satire in the current environment … To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

With just days to go before Rachel Reeves delivers her first Spending Review, Labour is facing an uncomfortable squeeze. NATO wants defence spending ramped up to 3.5% of GDP, but Reeves is sticking to her strict fiscal rules. Can Starmer keep both Washington and voters at home on side - or will the sums simply stop adding up?Meanwhile, Donald Trump is reigniting the trade war - with a 25% steel tariff sending markets wobbling. The UK may have a temporary exemption, but there are warning signs everywhere: surging bond yields, a weakening pound, and talk of a “crack” in the market from Wall Street's biggest voices. What does it all mean for the UK - and could global turbulence derail Labour's investment plans before they've begun?And Boris Johnson's back in the headlines. Could he really be planning a political comeback? With Reform UK on the rise and Conservative nerves showing, some see him as a vote-winner. But under Kemi Badenoch's leadership, would his return solve more problems than it creates?To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

When things go wrong - very badly wrong, as with the case of the infected blood and the sub-postmasters scandals - why can't the state act quickly to compensate victims? Ed Balls and George Osborne consider how the government should best respond, and balance the interests of innocent people as well as taxpayers. Harvard is the latest American university to feel the full force of Donald Trump's ire, with the US president trying to stop the storied institution from bringing on international students. Could there be benefits for Britain? George thinks the government should act now, without delay, to see if some of the best and brightest could abandon the USA for the UK.And the pair lift the lid on their own political memorabilia collection. Can you guess which former US president George has got a special connection to - thanks to some surprising collectors items?Don't forget we're doing our first Political Currency live show - we'll be taking to the stage on Thursday 5th June 2025 at SXSW London. Want a chance to grab a FREE ticket and a pass to the WHOLE six day business conference, worth £600?! Sign up to be a Kitchen Cabinet member to hear how you can get your hands on a ticket! To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

If Labour was hoping for one of those quick and easy policy U-turns, they certainly haven't got it. With Rachel Reeves' spending review a scant two weeks away, the government is still having trouble explaining the details - or providing any detail, really - on how winter fuel payments are now going to work. Now that cutting the two-child benefit cap is in the mix, who is going to explain what is playing out to the general public, and when? Ed Balls thinks it's all pretty messy, while George Osborne has got a different word for it: baffling.Meanwhile, King Charles has just been in Canada to open up the parliamentary session. An interesting piece of soft diplomacy as Prime Minister Mark Carney navigates a tense relationship with US President Donald Trump. The pair consider - with an unprecedented second state visit to the UK for Trump on the horizon and a chaotic on-again off-again US trade war underway - how should the government best handle it?And they turn their attention to the US tech giants dominance of the UK app store. Is the Apple-Google duology stifling UK growth?A reminder that we're doing our first Political Currency live show - we'll be taking to the stage on Thursday 5th June 2025 at SXSW London. Want a chance to grab a FREE ticket and a pass to the WHOLE six day business conference, worth £600?! Sign up to be a Kitchen Cabinet member to hear how you can get your hands on a ticket! To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet:

Can a quick political win keep the public on side while the hard work happens behind the scenes? This week on Ex-Ministers' Questions, Ed Balls and George Osborne debate whether Labour's lack of early symbolic moves has cost them public goodwill - and whether a bit of political theatre can actually make or break a government.They also tackle questions from across the UK and the US: how can Kemi Badenoch rebuild morale in a bruised Conservative Party? What's the right way to pitch bold economic ideas in a divided world? And who really decides where government contracts go - ministers or mandarins?Plus: a look back at Keynes's legacy with HM Treasury's Mario Pisani, a tip of the hat to Mr Bates vs the Post Office, and Ed's run-in with a very enthusiastic listener at Harvard.And a reminder, we're doing our first Political Currency live show - we'll be taking to the stage on Thursday 5th June 2025 at SXSW London. Want a chance to grab a FREE ticket and a pass to the WHOLE six day business conference, worth £600?! Sign up to be a Kitchen Cabinet member to hear how you can get your hands on a ticket! To get episodes early and ad-free, join Political Currency Gold or the Kitchen Cabinet: