

Political Currency
Persephonica
Ed Balls and George Osborne take us behind closed doors into the rooms where decisions are made. Having battled it out across the despatch box, the former Chancellor and shadow chancellor now meet in the studio to discuss the decisions that affect the nation’s pockets. Our frenemies have the knowledge and experience to explain how good politics follows the economics - and expose how the powerful become powerless when faced with market forces and political currents they can’t control. Join us every Thursday.Send your messages or voice notes to questions@politicalcurrency.co.ukFind us on social media @polcurrencyPolitical Currency is a Persephonica production. Hosted on Acast. See acast.com/privacy for more information.
Episodes
Mentioned books

17 snips
May 11, 2026 • 37min
HOT TAKE: Is it over for Starmer?
A live breakdown of Labour’s heavy local-election losses and what they mean for the party’s leadership. Discussion of surprise moves like bringing back veteran figures and the high-stakes speech that followed. A shock challenge from a little-known MP and the ripple effects through junior ranks and potential successors. Fast-moving political drama and a preview of the next tests for the party.

May 11, 2026 • 49min
EMQs: Is politics like snooker?
A playful debate on whether politics shares the long game, risk-taking and momentum of snooker. A look at how shows like The West Wing and The Thick of It shape political style and public image. Practical questions about selling AI to the public and myths around job losses. A discussion on whether podcasts can sway voters and anecdotes about media influence and TV moments.

May 7, 2026 • 1h 4min
Why are Labour so aggressive on the Greens?
Tense polling-day politics and why Labour is attacking the Greens so fiercely. The rise of nationalist parties in Scotland and Wales and whether they could push for independence. Market shocks from the Iran conflict and why the UK was hit harder than other G7 economies. Debates over rebuilding ties with the EU, single-market tradeoffs, and political risks of closer European relations.

14 snips
May 4, 2026 • 37min
EMQs: Should MPs drink in parliament?
A lively debate on whether MPs should be allowed to drink in parliament and how drinking culture shapes behaviour. A look at how long sitting hours and workplace norms affect family life and parliamentary culture. Discussion of AI readiness, from manager training gaps to the limits of national AI sovereignty. A chat about why ministers shy away from big vision speeches and the decline of public, big-picture debate.

14 snips
Apr 30, 2026 • 1h 3min
Why no one can 'land a glove' on Farage
A lively unpacking of the King's successful US state visit and its diplomatic ripples. A dive into the Mandelson controversy, vetting questions and how that shapes political manoeuvres. A look at fragile local election battlegrounds, the rise of Reform and risks for both main parties. A sharp debate on why assisted dying stalled and the different strategies for driving reform forward.

7 snips
Apr 27, 2026 • 27min
EMQs: What do the public think of Ed and George?
A frank discussion about rising antisemitism and how Jewish schools prepare and feel threatened. A debate over a proposed defence, security and resilience bank and the trade offs it would bring. A look inside how PMQs tactics and conventions work. Polling reveals who the public most wants to hear from and how reputations shape political trust.

22 snips
Apr 23, 2026 • 1h 4min
Is the clock ticking for Keir Starmer?
A political scandal around a senior figure and its threat to Keir Starmer's leadership is examined. They debate whether a senior adviser was fairly treated and how Number 10 handled the crisis. The conversation turns to Iran's ceasefire and the prospects for a lasting deal. US monetary politics feature too, with a tense Senate hearing shaping expectations for future Fed policy.

30 snips
Apr 20, 2026 • 46min
EMQs: Should PMs be youthful or experienced?
A lively debate on whether political leaders benefit more from youth or long experience. A look at rail plans linked to Heathrow and lessons from past big projects. A discussion of gilt market volatility and the limited fiscal choices for the Chancellor. A sober conversation about public preparedness for potential war and where government resilience needs shoring up.

17 snips
Apr 16, 2026 • 1h 4min
Is it risky for the Chancellor to attack Trump?
The Middle East conflict raged on during our Easter break and George Osborne comes back to us with news from Washington and word from friends in high places, like incoming Fed Chair Kevin Warsh. He and Ed Balls discuss the failed peace talks from George’s other mate, JD Vance, and where things go from here. They then weigh in on the UK’s shifting tone towards the Trump administration, and why they’re becoming more critical. It’s aiding them for now, but will it come back to bite them? The ongoing defence spending dilemma also rears its head with Labour peer George Robertson openly critcising the Government. The pair predict this will come to be the biggest challenge for Rachel Reeves and the Treasury in this year’s budget.Earlier this week the International Monetary Fund forecast that Britain would be one of the countries worst hit by the Iran war. Ed explains why he disagrees with this assessment, and how the Bank of England can avoid debilitating inflation. George cautions that Reeves is in a tough spot, and faces some unpopular choices should the IMF’s forecast come to fruition. Finally, George sheds some light on emerging cybersecurity threats particularly Anthropic’s Mythos model. Alarms are ringing in Washington over this model, with the new threats of AI on defence and security becoming clear. George highlights the risk and opportunity inherent in these technological innovations, and they call for regulation as these models become more and more advanced.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 & Nasreen ArainVideo Editor: Carla MercerExecutive Producer: Ellie Clifford & Henrietta HarrisonPolitical Currency is a Persephonica Production and is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.

Apr 13, 2026 • 37min
What If: George was PM during Covid?
In another special ‘What If’ edition of EMQs George Osborne and Ed Balls consider the would be worlds and outcomes, if just one historical event went another way. In a more theoretical ‘What If’ they consider what would happen if MPs couldn’t abstain and had to vote aye or nay on every bill. Ed believes this could lead to a breakdown in our system, while George thinks it could reprimand a mistake made by the recent Tory governments. An anonymous question from someone in government poses a radical change to our recent history: What if Trump became a unifying anti-gun and violence figure after the attempted assassination in 2024? This would have had massive implications for our current world, but would it be believable? George is sceptical, while Ed wonders if Trump would have gone on to a greater landslide victory or if the MAGA movement would have turned on him.Finally, a pair of EU related ‘What Ifs’. Had the Brexit results been flipped, who leads the country into 2020 and the pandemic? George? David Cameron? Or is it still Boris Johnson? Also, what if the Maastricht or Lisbon treaties had been put to the country as referendums? Would Brexit still have happened? Would we still be in the EU? Would it have saved or ended the premierships of John Major and Tony Blair?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 Video Editor: Avi AsherExecutive Producer: Ellie Clifford & Henrietta HarrisonPolitical Currency is a Persephonica Production and is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information.


