A whole host of Treasury buffs have sent in their questions this week in wake of the Spring Statement, for Ed Balls and George Osborne to answer. Former Chancellor Jeremy Hunt asks whether in the light of Labour’s announcing civil service reductions and welfare reform, the government is “stealing our clothes”? 

Lord Macpherson, Permanent Secretary to no less than three Chancellors, praises Rachel Reeves’ “courageous” claim of non-negotiability on her fiscal rules (which George translates as a euphemism for ‘bonkers’).

Shadow Chancellor Mel Stride is predictably critical of the Chancellor’s choices, but how much is Rachel Reeves to blame for the situation she finds herself in? 

And Ruth Curtice, Chief Executive of the Resolution Foundation and another former Treasury civil servant, sparks a conversation about how living standards will ultimately dictate Labour’s electoral chances. 

Plus, Ed and George also clash over Keir Starmer’s use of “coalition of the willing” - is this a conscious attempt to provoke American sentiment, or simply a widely used buzzphrase? 

You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And even better, you can now get even more perks by becoming a member of our KITCHEN CABINET to get access to live tickets, merch and more! 

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Danny Pape 

Producers: Miriam Hall and Jarek Żaba

Executive Producer: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

Has Chancellor Rachel Reeves got it right? Ed Balls and George Osborne provide their immediate reaction to her Spring Statement, questioning whether she’s missed her big opportunity for a relaunch. George likens her approach to ‘staying at the Roulette table’, having failed to land on black the first time around… 

He also compares her inflexibility to fiscal rules to his own approach while Chancellor, before the pair turn their attention to the government’s own impact assessment on welfare reform. Ed explains what the findings of the report potentially means for millions of families across the country. 

And, having returned from the HSBC Global Investment Summit in Hong Kong mere hours before recording, they turn their attention to uncertainty over the global economy following the announcement of yet more tariffs from Donald Trump. They also ponder somewhat gloomy international perceptions of the UK, with Brexit and Liz Truss being consistent themes that are still raised in conversations abroad. 

Finally the US national security establishment strayed into farcical territory this week, sharing operational details of a strike on Houthi rebels in Yemen on the messaging app Signal - and accidentally including the editor of The Atlantic, Jeff Goldberg, in the conversation. George and Ed express their bemusement at this turn of events and share their own experiences in government of receiving highly classified intelligence... 

You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And even better, you can now get even more perks by becoming a member of our KITCHEN CABINET to get access to live tickets, merch and more! 

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Daniel Pape

Producer: Miriam Hall and Jarek Żaba

Executive Producers: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

With talk of raiding pensions, George Osborne and Ed Balls consider how to increase the incentives for working people to save. As former Treasury insiders, the pair reflect on specific parts of their own previous pension reforms and ask: what approaches would they take if they were still setting policy today?

 

They’re also pressed on recent arguments made by Boris Johnson and Rishi Sunak that Russian assets held in European banks should be directly channelled towards the Ukrainian war effort. Is this a viable approach to funding support for Ukraine? 

And how can Mark Carney become Prime Minister of Canada without sitting as a member of Parliament? From Lord Halifax to Alec Douglas-Home, George provides an overview of historical precedent for such an occurrence in the UK whilst explaining the impracticalities of it happening today. But what is the one British government role that demands you be an MP?

Finally a question to you, our EMQ listeners – what are your favourite hobbies and pastimes to do whilst listening to the podcast? And can you beat this week’s question-asker?

You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And not only that… get even more exclusive perks by signing up to be a member of our KITCHEN CABINET! Including bonus content, access to live events, exclusive merch and more.

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Danny Pape 

Producers: Miriam Hall and Jarek Żaba

Executive Producer: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

They may have both been leading Brexiteers but Dominic Cummings and Nigel Farage were once fierce rivals, vying to be the top campaign of the referendum. As recently as last year Cummings accused Farage of ‘surrounding himself with useless characters’ – so why are we now hearing of a secret meeting between the two before Christmas? Ed Balls and George Osborne pick apart the significance of this rendezvous at a time when Reform are contending with a senior bust up, as well as an imminent by-election in Runcorn where polling has them out in front. 

In a week where Diane Abbott and Andy Burnham backed Ed’s criticisms of the government’s welfare reform, Liz Kendall has been in the Commons to announce further detail of Labour’s plan. And they reflect on what options Chancellor Rachel Reeves will have in her Spring Statement (or mini-budget) next week. Can she create a reset moment?

Plus, in London this week was the new Canadian Prime Minister Mark Carney. With rumours swirling about an imminent Canadian election, George and Ed debate the merits of calling a vote early into your premiership, reminiscing about the examples of Gordon Brown’s ‘the election that never was’ and Theresa May’s disastrous loss of a majority in 2017. 

You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And not only that… you could have been in the room asking a question as a member of Political Currency’s KITCHEN CABINET, along with early and ad-free listening, and exclusive Political Currency merch

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Daniel Pape

Producer: Miriam Hall and Jarek Żaba

Executive Producers: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

This week, Ed Balls and George Osborne complete the chancellor triptych with current shadow Chancellor Mel Stride ringing in to ask: how much space should a treasurer leave themselves against their fiscal target? And pressingly, does Rachel Reeves pass their test?

They also consider if Nigel Farage will come to regret his close alignment with Donald Trump. Could the electorate turn against him if Trump continues on his rampage of tariffs and military aid halts against Ukraine? Speaking of, why has it taken three years for Europe to come together to back Ukraine against Russian aggression physically, as well as financially?

And they turn to the all-important issue of golf, spilling the tee (get it?) on their ideal political partner for a four-hour round on a golf course. Which political golfing invite made David Cameron deeply nervous?

You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And not only that… you could have been in the room asking a question as a member of Political Currency’s KITCHEN CABINET, along with early and ad-free listening, and exclusive Political Currency merch

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Oliver Geraghty

Producer: Miriam Hall and Rosie Stopher

Executive Producers: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

A ceasefire in the Russian-Ukraine war is now on the table, with US and Ukrainian officials reaching a deal to stop the fighting. With US military aid to Ukraine and intelligence sharing now reinstated, the world is now turning to Putin’s next move. Will the Russian president agree to peace? George Osborne and Ed Balls consider the monumental shifts in the way the years-long conflict is now being viewed. And at what price? 

Meanwhile on both sides of the Atlantic, leaders are getting to grips with the trade war being waged by President Trump, with the latest to consider their approach being incoming Canadian Prime Minister Mark Carney. After discussing Trump's dismissal of the stock markets, Ed and George discuss the merits of Carney's firebrand response to US tariffs, comparing it to Keir Starmer's more moderate approach. 

Back at home, Starmer’s government is already under fire as rumours spread over possible welfare reform ahead of the Spring Statement. Will this be the undoing of a party that has stood so squarely against very similar suggestions when in opposition?

Become a member of POLITICAL CURRENCY GOLD 🏅 to support the podcast, enjoy ad-free listening to all our episodes and receive early access to EMQs. Or, join Political Currency’s KITCHEN CABINET to enjoy early and ad-free listening, access to live EMQs recordings, and exclusive Political Currency merch.

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Producers: Miriam Hall, Jarek Zaba and Rosie Stopher

Technical Producer: Danny Pape 

Executive Producer: Ellie Clifford

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

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

This week George Osborne and Ed Balls are taking questions in person, with a select few Kitchen Cabinet members joining the first ever live audience recording of the show. 

Is Fredreich Merz right to worry that the European Union will face a financial crisis thanks to government debt? Is AI data management the way forward for driving significant savings in both welfare and healthcare? And is Trumpian rhetoric having an adverse effect on centre-right campaigning? 

Plus, they turn their minds to an area of true expertise: how to manage life after a career in politics. How do you keep bitterness at bay and forge a new, meaningful career? Is a comparison to a retired top-level footballer too much? George doesn’t think so… 

You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And not only that… you could have been in the room asking a question as a member of Political Currency’s KITCHEN CABINET, along with early and ad-free listening, and exclusive Political Currency merch

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Danny Pape

Producer: Miriam Hall and Rosie Stopher

Executive Producers: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

It’s been a week of political whiplash, including that infamous explosive meeting in the Oval office and renewed commitment from European leaders to back Ukraine. George Osborne and Ed Balls consider who - if anyone - has fared well in this wild week. Is Trump himself as the deft negotiator he claims to be?

And with a rush to bolster arms on this side of the Atlantic, what is the fallout for Rachel Reeves? As the Spring Statement approaches, what choices does she have to limit the damage that may or may not be forecast by the OBR? And doesn’t this all feel just a little bit like one of those second annual fiscal events she swore she wouldn’t hold?

Finally, Ed and George turn to the outcry around the government’s artificial Intelligence and copyright consultation, from artists including Annie Lennox, Damon Abarn and Kate Bush. Is there a way for this government to balance championing and regulating big tech? 

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Producers: Miriam Hall and Rosie Stopher

Technical Producer: Danny Pape

Executive Producer: Ellie Clifford

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

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

This week, Conservative peer Baroness Gabby Bertin asks for advice on how to keep a government report from sinking without a trace. Her review - released on Thursday - calls for a ban on degrading and misogynistic pornography. George Osborne and Ed Balls provide their views on how to make sure the findings reach the right people and make an impact.

Speaking of influence and power, host of Politico’s Westminster Insider podcast Sascha O’Sullivan has a question regarding the relationship between the Prime Minister and Chancellor. How does that personal interplay between the two impact the reach of the Treasury? They consider Keir Starmer’s surprise defence spending announcement, by way of example. 

Lord Evans of Rainow has an apology for Ed that sparks a question about the future of heckling and sledging in parliamentary questions. Is it getting tougher in modern politics? Or easing off?

And they cast their minds back to A-Level politics. What 1980s sixth form learnings did George draw on in his political career? Why did Ed elect to skip the course altogether? And what would they include if they were teaching the course today? 

This episode is brought to you by British Airways. British Airways will take care of you over a lifetime of journeys. Book your next flight at britishairways.com

You could have been listening to this episode of EMQs early and ad-free! And not only that… join Political Currency’s KITCHEN CABINET to enjoy early and ad-free listening, access to live EMQs recordings, and exclusive Political Currency merch.

Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.

Technical Producer: Danny Pape

Producer: Miriam Hall and Rosie Stopher

Executive Producers: Ellie Clifford 

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

Hosted on Acast. See acast.com/privacy for more information.

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.

As Keir Starmer meets with Donald Trump for the first time since the latter’s re-election, international order appears to be fragmenting around us. George Osborne and Ed Balls ask, are European leaders having to face up to a painful truth that their security is now at the whim of Trump’s? Could other countries even come close to providing the kinds of military forcepower the Americans can provide?

All the same, Starmer made a big splash this week ahead of his momentous trip to the White House by announcing increased defence spending - and a slashing of the aid budget. The pair consider how this massive strategic shift will recast Britain’s role on the world stage. And what does it say about Starmer’s grip on his Cabinet? 

Plus, pure podcast gold as George and Ed take a look at the latest Elon Musk amplified conspiracy: that the US’s reserves in Fort Knox might be missing. Why is gold of such political and economic importance, and how do the optics of Musk and Trump's pronouncements remind us of Gordon Brown's sale of reserves - or even the ‘Pasty Tax’? 

This episode is brought to you by British Airways. British Airways will take care of you over a lifetime of journeys. Book your next flight at britishairways.com 

Become a member of POLITICAL CURRENCY GOLD 🏅 to support the podcast, enjoy ad-free listening to all our episodes and receive early access to EMQs. Or, join Political Currency’s KITCHEN CABINET to enjoy early and ad-free listening, access to live EMQs recordings, and exclusive Political Currency merch.

Producers: Jarek Zaba, Miriam Hall and Rosie Stopher

Technical Producer: Danny Pape

Executive Producer: Ellie Clifford

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

Subscribe now on Patreon

Hosted on Acast. See acast.com/privacy for more information.