Political Currency

As renewed violence erupts across the Middle East, governments have been forced into crisis mode... but when is the right time to intervene, how involved should you get and when, if ever, is it time for 'boots on the ground'?It's these dilemmas and more that are currently facing Keir Starmer and other world leaders, but it's not the first time a UK government has had to find answers for such big questions about international intervention. Fifteen years ago the civil unrest of the Arab Spring spread to Libya. The violent crackdowns against anti-government protestors that followed sparked seven months of NATO military intervention and led to the killing of Muammar Gaddafi, putting an end to his 42-year dictatorship.In this special mini series, Ed Balls and George Osborne are joined by former MI6 Chief Sir John Sawers to discuss the key decisions, missteps, and aftermath of the Libya crisis. We take you inside the war rooms and hear unique insights from John, George and two other officials who saw key decisions being made first-hand: former EU High Representative for Foreign and Security Policy, Cathy Ashton, and deputy national security adviser to the coalition government, Hugh Powell. What can the wars of the past can teach us lessons for the wars of today?In part one, we look at how the UK government reacted to the escalating situation, why David Cameron and then-French President Nicolas Sarkozy pushed for military action, and the steps that led to the first bomb being dropped… and how it managed to surprise Britain.Thanks for listening. In our next episode we take you right behind the scenes of the military action and hear about all of the drama that ensued, including the moment Sir John Sawyers took an informant for a secret dinner… Can’t wait? Subscribe now to get all three parts of Inside the Room: The Libya Conflict. You will also get access to our debrief episode The Inquiry, as well as early and ad-free access to our regular episodes of EMQs. 👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits: Research: Monica Lillis, Ayla Krachai, and Sam BurtonProduction support: Tom JacksonProduction: Caillin McDaid and Nasreen ArainVideo Editor: Avi Asher and Oliver GeraghtyExecutive Producer: Ellie Clifford and Henrietta Harrison

Fellow ex-MP and former health minister Steve Brine sends in a question asking Ed Balls and George Osborne how we judge the performance of a health secretary, and in particular Wes Streeting. They lay out the historical challenges of the role, and where Streeting has risen or succumbed to them thus far.A colleague of Ed’s from King’s College then asks how useful it is for benefits to be so conditional, in particular for care leavers. They debate the fairness in having conditional benefits systems, and why people are more sympathetic to care leavers than other disadvantaged groups. They then discuss the perks of pedestrianising Bruton, George’s stomping ground, in a manner similar to Paris. Would George lead the campaign to see this through? Or is it an enticing but unrealistic idea? Finally, a former Tory parliamentary candidate raises his concerns around Nick Timothy’s controversial comments on a Ramadan event in London. They discuss the dangerous direction these comments represent for both the Tories, and British politics more widely. We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid & Henrietta HarrisonVideo Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

Nearly a month into the war in Iran, and the White House’s objectives are no clearer. Donald Trump is sending conflicting signals - peace overtures in one moment, threats of further escalation in the next. The consequences of this instability is rippling far beyond the Middle East. Ed Balls and George Osborne examine what Trump actually wants, and what his mixed messages might mean for allies like Britain, struggling to keep track.  At home, Keir Starmer and Rachel Reeves are on the backfoot. With the local elections just weeks away, and both Reform and the Greens on the rise, is the Prime Minister facing down an electoral battering at the polls? Is this the moment Labour's difficulties harden into something more lasting - could the May elections be a dress rehearsal for the next general election? Oh, and what on earth happened to Morgan McSweeney’s phone?Finally, from political vulnerability, to political victory. Ed and George reflect on the one year anniversary of Mark Carney’s premiership. How has he managed to turn around the fortunes of the Liberal Party in remarkably difficult circumstances - and what lessons Starmer and other leaders facing similar headwinds might take from his playbook. We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid & Caitlin Caitlin Hanrahan  Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

Fresh off regaling us with his tales in a Silicon Valley robotaxi, George Osborne is asked if they’re bound for  London and what risks they may pose, in this week’s EMQs. Ed Balls echoes some of our listener’s  concerns, but George argues this is no different than other tech evolutions like Uber.The pair are then asked why Britain often appears reactive and not proactive for big economic shocks like the wars in Ukraine or Iran. Is this emblematic of problems within the Treasury? Problems in government? Or, an uncharitable read of tough political circumstances.Finally, an anonymous police officer asks if the Home Office should focus more on retaining experienced officers, rather than recruitments and mergers, to improve services. He also poses a possible solution to this problem - should the police be permitted to take industrial action? Ed and George debate the merits of recruitment drives and what endemic issues need solving to help improve the police. We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid & Henrietta Harrison Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

The war in the middle east has entered its third week. Tensions rose overnight when Israel hit a natural gas field in Iran, and Iran retaliated by bombing gas facilities in Qatar. The result was oil prices skyrocketing. Ed Balls and George Osborne discuss what appears to be a communication breakdown between Israel and the US, and question whether they are aligned in their respective endgames. Earlier this week the Chancellor Rachel Reeves gave the Mais lecture at the Bayes Business School. She said fiscal devolution, closer relations with Europe, AI and innovation would bring growth in the UK. But was the speech too partisan and lacking economic theory?And, Angela Rayner is back - delivering a speech criticising the government’s proposed immigration reforms. Is she planning to stick the knife in Keir Starmer, à la Michael Heseltine and Margaret Thatcher, and if so - does she have the right qualifications to lead the country? Ed and George look at past transitions mid-government for Labour and more widely, and examine how Rayner’s strengths and weaknesses may impact her chances at No. 10.We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid & Henrietta Harrison   Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

The saga of Gordon the chicken continues this week with Beatrice Gove, Michael’s daughter, sending in a question to tell us more about the incident. Ed Balls and George Osborne then answer her question about polling showing Labour and Reform out in front as the parties most trusted by business. Is this a concern for Keir Starmer? What does it mean when business starts gravitating towards opposition parties? The pair then consider the great cultural exchanges across British history, in light of the Bayeux Tapestry coming to the British Museum this year. The examples range from Beatlemania all the way to K-Pop. Do these moments help strengthen bonds between countries? What impact do shared cultural experiences have on our diplomatic relations around the world?They then debate the fairness of Shaban Mahmood’s proposed changes to indefinite leave to remain, and the potential consequences of being less stringent on high-earning workers as compared to low-earners. Finally, a listener stuck in Dubai enquires about what goes on behind the scenes during crises and whether negative comments from the likes of Ed Davey in response to the ex-pats was misjudged. They cite past examples from Afghanistan to Libya, how governments handled those situations behind the scenes, and when the right time to make large scale interventions like that are necessary. We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid, Caitlin Hanrahan & Eve Jones Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

After weeks of speculation we finally saw the first release of the files concerning Peter Mandelson’s appointment and sacking as US Ambassador. Ed Balls and George Osborne delve into the revelations within the files, and whether any of the new information damages the government or prime minister. Was there a smoking gun in the files? Is the worst information now out there? Or, are there more damaging revelations to come?Then, they return to the Iran conflict and reassess what Trump’s strategy is. Can he declare victory now and avoid risking his reputation? Or has this war created problems he can’t outrun? They also discuss the emerging energy crisis, and whether central banks should cut, hold, or raise interest rates in light of the conflict. Finally, with Tony Blair saying the government should have followed America into Iran, Gordon Brown weighing in on Mandelson, and Boris Johnson pushing for boots on the ground in Ukraine, we’ve seen an increasing number of interventions by ex-PMs. Is this a new trend? If so, what are these ex-PMs hoping to achieve? How effective are their interventions in shifting government policy?We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid & Richard Attley  Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

Fresh off the absolute victory for the Greens in Gorton and Denton, Ed Balls and George Osborne debate whether the betting markets - which accurately predicted the results - are reliable forecasters in elections in this week’s EMQs. George ponders if, unlike official polling, it might be possible to influence the odds in your favour? Fellow ex-MP Gyles Brandreth asks the brutally honest question: did their careers peak when they were politicians? Despite all their success in podcasting and elsewhere, was being in government the best days of their lives? The pair debate the idea which ends up causing them to reminisce about Michael Gove’s dog and a chicken named Gordon.Finally, Mayor of York and North Yorkshire David Skaith asks the best way a mayor can promote growth in their region, particularly one as rural as his. After offering David some useful ideas, the pair wander down a Wuthering Heights tangent and Ed gifts listeners with his slightly dubious Kate Bush impression. David also asks Ed for some personal advice on being a public figure with a stammer. We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid, Caitlin Hanrahan & Eve Jones Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.

After weeks of warnings from George Osborne and Ed Balls, Donald Trump has rolled the dice and launched Operation Epic Fury and Operation Rising Lion against Iran. The strikes sent shockwaves around the world, with many wondering what Trump’s real motivations were. Why did Trump act now? What is his endgame? And what could the domestic and geopolitical consequences be?Ed and George unpack the strategic calculations behind the decision, from Middle East security to access to oil, and discuss the geopolitical fallout that may follow.The conflict in Iran has also brought about the starkest moment of disagreement between UK and US since the Vietnam war. Keir Starmer refused to follow the US and Israel, but how much was that position based on internal disagreements within Labour and the long political shadow of the Iraq War?Finally, the pair turn to Rachel Reeves’ Spring Statement. Did the Chancellor miss the mark? With defence spending pressures rising and unresolved questions around student loans, they ask if the statement was unusually partisan despite delivering few major policy changes.We love hearing from you, so please don’t forget to send all your EMQs to questions@politicalcurrency and make sure to include a voice note of your question.Thanks for listening. To get episodes early and ad- free join Political Currency Gold or our Kitchen Cabinet. If you want even more perks including our exclusive newsletter, join our Kitchen Cabinet today:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Caillin McDaid & Caitlin Caitlin Hanrahan  Video Editor: Avi AsherExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.