Is Rachel Reeves starting 2025 with a bond market headache? Ed Balls and George Osborne explain how global trends and UK inflation might just mean she’s boxed herself in… again. 

Meanwhile, Elon Musk’s growing interest in British politics – and hatred of Keir Starmer – has erupted into a row over the grooming gangs scandal. What would Ed and George do in Starmer’s position? And what are the long and short term political implications for Labour, the Tories and Nigel Farage’s Reform party.

Plus, over in Canada, Prime Minister Justin Trudeau has announced his resignation after a decade in power, and among the possible candidates mooted to replace him are two old friends of Ed and George’s: Former Bank of England Governor Mark Carney, and former deputy Prime Minister Chrystia Freeland. Who will win out, and what will the future of Canada look like? 

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Production support: Caillin McDaid

Technical Producers: Will Gibson Smith and Danny Pape

Producers: Miriam Hall, James Shield and Rosie Stopher

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