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Political Currency
How Labour made a political scandal worse
Keir Starmer has caved and returned thousands of pounds in freebies given to him by a Labour donor, in an attempt to close a rather embarrassing chapter for the government. But has he successfully hosed it down? Ed Balls and George Osborne consider whether it's a textbook case of what not to do when you have a PR snafu on your hands.
Meanwhile, tensions are escalating in the Middle East. Is there a risk of the conflict intensifying, or is the situation under control? And what does it mean for the West?
And with the highly anticipated budget now merely weeks away, they take a look at what Rachel Reeves has on her plate. Is this shaping up to be the “relaunch” budget Labour needs, or are we on the verge of a new era of anti-growth…
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Production support: Caillin McDaid
Producers: Rosie Stopher and Miriam Hall
Executive Producers: Ellie Clifford
Political Currency is a Persephonica Production and is part of the Acast Creator Network.
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225. Is this Rachel Reeves’ last throw of the dice?
59:10||Season 1, Ep. 225Rachel 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Maha AlbadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
224. EMQs: TikTok, Strictly, and foreign aid
34:55||Season 1, Ep. 224Why 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
223. Can Starmer hold on as PM?
01:06:39||Season 1, Ep. 223Keir 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Maha AlbadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
222. EMQs: Is the political centre dead?
32:47||Season 1, Ep. 222Is 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Oliver GeraghtyExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
221. Why blaming Brexit won’t save Rachel Reeves
01:01:43||Season 1, Ep. 221As 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Oliver GeraghtyExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
220. EMQs: Would you serve in your political rival’s cabinet?
53:58||Season 1, Ep. 220Could 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Senior Producer: Silvia MarescaVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
219. Inside the China spy crisis shaking Starmer’s government
01:08:57||Season 1, Ep. 219Has 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Producer: Ellie JaySenior Producer: Silvia MarescaVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
218. EMQs: Could George Osborne still be a Tory MP?
34:33||Season 1, Ep. 218Is 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Oliver GeraghtyExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
217. Has Kemi Badenoch saved herself?
01:01:25||Season 1, Ep. 217Empty 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:👉 patreon.com/politicalcurrency👉 Apple PodcastsPlease note: Kitchen Cabinet is only available via Patreon.Credits:Assistant Producer: Caillin McDaidSenior Producer: Silvia MarescaVideo Editor: Oliver GeraghtyExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.