Share

cover art for Week from Hell for Reeves and Starmer

Political Currency

Week from Hell for Reeves and Starmer

Season 1, Ep. 189

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 Zaba

Video Editor: Danny Pape

Executive Producer: Ellie Clifford

Political Currency is a Persephonica Production and is part of the Acast Creator Network.



More episodes

View all episodes

  • 239. EMQs: What's your most embarrassing moment as a politician?

    27:00||Season 1, Ep. 239
    What’s the most embarrassing moment you’ve ever had caught on camera? Good Morning Britain’s Susanna Reid asks George and Ed to walk down an excruciating memory lane. And she puts a question from ChatGPT to them, in light of George’s new gig. But which question is better?George reveals William Hague’s incredible method for making sure meetings run on time and Ed helps a Gold listener finally understand the joke at the front of the show? Why on earth would George think he was on the Titanic?A listener shares their experience as a Jewish person in the UK, after the attack on Bondi Beach. And, Nick Thomas-Symonds, cabinet member and famed biographer of Harold Wilson compliments George on his impression of the former Prime Minister - though makes a slight correction. He wants to know when Ed and George think the leaders they served were most resilient. Finally - seeing as it’s nearly Christmas - Ed and George muse on where Santa does his Christmas shopping… Don’t forget to vote for us as the Political Podcast Award’s People’s Choice of the year. Follow the link to vote: https://politicalpodcastawards.co.uk/the-peoples-choice-award/ And 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.Plus, why not give the gift of Political Currency this Christmas! Kitchen Cabinet members get a Christmas card from Ed and George, a Political Currency mug and even more exclusive perks including our newsletter and access to live events. Sign yourself or a loved one (or an enemy) up today: tr.ee/gift-pcPlease note: Kitchen Cabinet is only available via Patreon.Credits:Research: Sam BurtonProduction: Paige Reynolds and Eve JonesVideo Editor: Maha Al-BadrawiExecutive 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.
  • 238. Which party will dominate 2026?

    54:11||Season 1, Ep. 238
    How has 2025 changed the outlook for Britain’s political parties? George Osborne and Ed Balls reflect on the events that have defined public opinion and led to unprecedented changes in the polls. What went wrong for Keir Starmer’s government? Why does Kemi Badenoch’s leadership now look more stable? They also name what could potentially be the four most influential moments of 2026. Are losses in the Scottish, Welsh and local elections inevitable for Labour? Will the US mid-terms signal a resurgence or decline for Donald Trump? Could US-China state visits present an opportunity for a stronger relationship between the countries? And just how significant will the first OBR forecast since the Budget be, when it arrives in the spring?Finally, Ed and George crown their Politicians of the Year, and take a look back at some of the best, worst, and most surprising political moments of 2025.Don’t forget to vote for us as the Political Podcast Award’s People’s Choice of the year. Follow the link to vote: https://politicalpodcastawards.co.uk/the-peoples-choice-award/ And 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.Plus, why not give the gift of Political Currency this Christmas! Kitchen Cabinet members get a Christmas card from Ed and George, a Political Currency mug and even more exclusive perks including our newsletter and access to live events. Sign yourself or a loved one (or an enemy) up today: tr.ee/gift-pcPlease note: Kitchen Cabinet is only available via Patreon.EXCLUSIVE NordVPN Deal ➼ https://nordvpn.com/politicalcurrency Try it risk-free now with a 30-day money-back guarantee!Credits:Research: Sam BurtonProduction: Paige Reynolds and Eve JonesVideo Editor: Maha Al-BadrawiExecutive 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.
  • 237. EMQs: What’s the hardest question you’ve had to answer?

    35:08||Season 1, Ep. 237
    George Osborne and Ed Balls reminisce on their most challenging interviewers…school children. George recalls being asked what seven times eight was, while Ed recounts misfires over school lunches. They also speculate on which Tory MP was glad to be sacked by Rishi Sunak…Elsewhere, they look at the peculiar case of the Canadian Conservatives where election loser Pierre Poilievre has continued on as leader, and wonder if there are any British equivalents. This allows George to show off his unexpected Harold Wilson impression. They also question Labour’s continued refusal to consider rejoining the Customs Union, and whether the US/India trade deals are an acceptable substitute. Finally, they give Keir Starmer some benefit of the doubt, as a passionate listener makes the case for Labour’s vision and successes from their first year in government.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.EXCLUSIVE NordVPN Deal ➼ https://nordvpn.com/politicalcurrency Try it risk-free now with a 30-day money-back guarantee!Thanks for listening. Remember Kitchen Cabinet members get exclusive access to live EMQs recordings, briefings from the team, and an exclusive Political Currency mug PLUS a very special Christmas card from Ed and George: tr.ee/gift-pcCredits:Research: Sam BurtonProduction: Caillin McDaid & Ellie Jay Video Editor: Danny PapeExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
  • 236. Is the US turning its back on Europe?

    01:01:59||Season 1, Ep. 236
    What does the White House really think about Europe? George Osborne and Ed Balls take a look at President Trump’s new national strategy. George plays devil’s advocate for the plan, while Ed suggests that it could reveal JD Vance’s big strategy for 2028… They then turn to the US domestic agenda, and weigh up whether the Trump economy really is A+++. They look at the impact of the tariffs, the upcoming appointment of a new Federal Reserve chair, and how rising prices could cost the Republicans in the midterms.Finally, they look at Hollywood and shine a light on Trump’s role in Netflix and Paramount’s bidding war for Warner Bros. They weigh up the impacts of these bids, the role of Jared Kushner, and why something similar couldn’t happen in the UK…Don’t forget to vote for us as the Political Podcast Award’s People’s Choice of the year. Follow the link to vote: https://politicalpodcastawards.co.uk/the-peoples-choice-award/ And 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.Why not gift the gift of Political Currency! Kitchen Cabinet members get a Christmas card from Ed and George, a Political Currency mug and even more exclusive perks including our newsletter and access to live events. Sign yourself or a loved one (or an enemy) up today: tr.ee/gift-pcCredits:Research: Sam BurtonProduction: Caillin McDaid & Ellie Jay Video Editor: Danny PapeExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
  • 235. EMQs: Is it time to abolish the state pension triple lock?

    34:41||Season 1, Ep. 235
    Will any government be brave enough to abolish the triple lock on pensions? The cost-saving case has been made by many, but Ed Balls and George Osborne explain why it could be politically calamitous to try and ditch it. They debate William Hague’s theory that, were Rachel Reeves sacked, Keir Starmer would follow and look back at how chancellors and Prime Minister’s fates have been intertwined. Plus - why is Keir Starmer always doodling during PMQs? Is he following the brilliant debate strategy of Obama, or easily bored when being questioned?Finally, in a preview of our upcoming ‘What If’ EMQs, Ed and George imagine how the 2024 election could have gone, had Reeves followed a path like John Smith in 1992. Would she have avoided her budget nightmares? Or, would we still have Rishi Sunak as Prime Minister?Don’t forget to send in questions for our upcoming Christmas and ‘What If’ themed EMQs episodes. You can send those to questions@politicalcurrency, and make sure to include a voice note!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:Research: Sam BurtonProduction: Caillin McDaid & Jack BoswellVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
  • 234. When will Labour’s communication catastrophe end?

    54:16||Season 1, Ep. 234
    The drama rages on, one week after Chancellor Rachel Reeves stood at the dispatch box to deliver her second Budget. Richard Hughes has resigned as OBR chair following the catastrophic budget leak and calls for Rachel Reeves to do the same have not let up. Ed Balls and George Osborne look at the “shambolic” fallout of the budget, and how Labour have once again grasped defeat from the jaws of victory in yet another communications disaster for the party. Then, the pair discuss David Lammy’s drastic measures to scrap juries for the majority of cases in England and Wales. Is this the biggest change to our justice system since the Magna Carta or a necessary step to solve the mounting backlog of cases, bringing the courts to the brink? And why on earth didn't anybody prepare the ground for it?Finally, Ed and George look across the channel to the rise of the far right in Germany and France. With the AfD and National Rally looking on the cusp of electoral victory and Reform’s path to power looking inevitable, what lessons can Keir Starmer learn from his European allies to stop Nigel Farage securing the keys to No 10? 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 PodcastsCredits:Research: Sam BurtonProduction: Caillin McDaid & Jack BoswellVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
  • 233. EMQs: How much power do chancellors have?

    31:38||Season 1, Ep. 233
    How many times did Gordon Brown save Tony Blair from a calamitous decision? Ed Balls and George Osborne recount the times chancellors stepped in to save their PM from disaster. Does George wish he'd done it a bit more with David Cameron?And why does the Opposition leader respond to the budget and not the shadow chancellor? Ed and George try to work it out, but are not quite sure themselves - please write in! They also delve into the minimum wage rise from the budget, and signal pressing issues Keir Starmer and Rachel Reeves must tackle down the line.Finally, the pair share their dream jobs - other than Prime Minister, of course - with Ed’s being a suitably political answer and George’s being typically wide-ranging from his previous roles.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. 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 and Paige ReynoldsVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
  • 232. Has Chancellor Rachel Reeves abandoned growth?

    01:01:06||Season 1, Ep. 232
    Does Rachel Reeves have a credible plan for growth? One day on from her Budget Statement, George Osborne and Ed Balls debate her headline measures and ask if she’s built enough of a narrative to save her job. Health Secretary Wes Streeting asks about two Osbornian policies: the sugar tax and two-child limit. How can Labour win the argument?They also talk about the disastrous OBR leak, whether anyone will be sacked, and ask how it stacks up to some of the biggest leaks in budget history… Is it worse than Ken Clarke in 1996? Or the Evening Standard beating George to the punch in 2013?Finally, they briefly turn to the war in Ukraine and debate the peace negotiations. The big question now is whether Putin has been strong-armed into signing a peace treaty, and if that means a lasting cease-fire is in sight.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 and Paige ReynoldsVideo Editor: Maha Al-BadrawiExecutive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.
  • 231. Budget Hot Take: Has Chancellor Rachel Reeves saved herself? | LIVE reaction

    36:53||Season 1, Ep. 231
    After months of speculation, briefings and leaks, Rachel Reeves has finally delivered her fated second budget. Has she done enough to save herself, Keir Starmer, and the Labour government?In a special YouTube LIVE episode, Ed Balls and George Osborne give their immediate reaction to the Chancellor's budget. They dive into who the budget was for, the overtly political tone, and whether Reeves stood by her manifesto pledges.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:Researcher: Sam BurtonAssistant Producer: Caillin McDaidVideo Editor: Oliver Geraghty Executive Producer: Ellie CliffordPolitical Currency is a Persephonica Production and is part of the Acast Creator Network.