Political Currency

In this Easter special, Ed Balls and George Osborne meet a truly mythical creature: someone who wants to pay more tax, not less. And according to George, there’s actually a way to do it.

They also discuss a big political what-if: what happens if a Prime Minister loses their seat? They've talked before about how someone can become PM without being an MP - think Mark Carney in Canada - but this week they flip the question: could one keep the top job if your constituents vote you out?

Also in the mix: is a government running out of money about to come for your pension? Would scrapping the tax-free lump sum be a smart or desperate move? And is it time to give our big cities more power - and more room to grow?

And a note, don’t miss our upcoming Inside the Room: The Election That Never Was - which is out tomorrow for subscribers and Monday for everyone else. 

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.

Technical Producer: Danny Pape 

Producers: Miriam Hall and Silvia Maresca

Executive Producers: Dino Sofos and 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.

As the US-China trade war heats up, Ed Balls and George Osborne ask: what if the Trump White House took the nuclear option… defaulting on its debts to China? Ed explains why that could be a catastrophic thing to do, while George points to the ‘Mar-a-Lago Accord’ as a way that the US in reality may negotiate its debt. 

Sticking with Trump, Ed and George also ponder ‘patrimonalism’ – a term coined by Max Weber to describe governance by personal loyalty and kinship… Is Donald Trump the first patrimonial President of the United States? 

Josh Simons MP, a rising star in the Labour Party, asks for advice on getting government backing for a new road in his Makerfield constituency. Is he right to lobby the Housing and Transport departments, and what sort of arguments will pique the interest of the Labour leadership?

Right now, the UK has eight living former Prime Ministers. Ed and George conclude by comparing their behaviour upon leaving Number 10. Which PMs clearly can’t let go, and whose stock has risen over time? 

Technical Producer: Danny Pape 

Producers: Miriam Hall and Jarek Żaba

Executive Producer: Dino Sofos

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

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

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.

It’s been a rollercoaster few days for the world economy thanks to Donald Trump’s ‘Liberation Day’ tariffs announcement - and his dramatic U-turn a scant week later. With a 90-day pause for every country hit - aside from China -  Ed Balls and George Osborne consider the significance of a hugely disappointing auction of US treasuries, and how it led to Trump’s Treasury Secretary warning him of a looming economic crisis. 

They ask: are we watching in real time the US tearing at the foundations of the very system they created? And are there now the first rumblings of Republican discontent? Seems like there’s the first signs of figures in Congress and on Wall Street starting to dissent … 

Meanwhile, Keir Starmer has vowed to ‘turbocharge’ the UK economy in the face of global economic tumult. George runs through the options available to the Prime Minister… Is the answer in softening ‘ironclad’ fiscal rules, deals with India or the EU, or hoovering up scientific talent alienated from the US? 

And they turn their attention to a Harvard and Kings College London paper, co-authored by Professor Ed Balls – what can the UK learn from ‘Bidenomics’? 

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.

Technical Producer: Danny Pape 

Producers: Miriam Hall and Jarek Żaba

Executive Producer: Dino Sofos

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

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

This week, Ed Balls and George Osborne mull museums and memes via bank holidays and pennies. With listeners telling us their locations of choice, funeral director Ross ranks highly with his admission that Ed and George are sometimes listened to in a hearse on the drive home. The pair consider: what are the merits of regulating the funeral industry?

Should our cultural institutions be charging more for access?

George calls upon his expertise as Chair of the British Museum to weigh it up. Meanwhile, Ed shares his own research into the economics of a bank holiday… do we really stand to lose billions if the government was to introduce another?

Toxic masculinity and online safety are in the spotlight in the wake of Netflix’s hit show Adolescence, with research indicating that young people in the UK are particularly worried about these issues. Ed and George look at the role of government in addressing their concerns, before assessing whether the humble penny should remain a staple of British life. 

And a touch of nostalgia …  a listener reminds the economic duo of the ‘Budget Rap Battle’, put together by Sky News when the pair were on opposite sides of the dispatch box. Ed expresses scepticism that such memes can make a political difference, although both agree that Nick Clegg’s I’m Sorry remix was a damaging – albeit amusing – moment in the Lib Dem leader’s career…. 

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.

Technical Producer: Danny Pape 

Producers: Miriam Hall and Jarek Żaba

Executive Producer: Dino Sofos

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

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

In the wake of Donald Trump’s ‘Liberation Day’, Ed Balls and George Osborne break down the economic thinking – or lack thereof – behind President’s tariffs. Rather than the numbers emerging from complicated analysis, Ed explains how they are merely reached through a simple formula. Will the Federal Reserve be able to cut interest rates as quickly as Trump would like in the wake of his tariffs?  

Back home, Keir Starmer is calling for calm and resisting a push to reciprocate, as he seeks to strike an ‘economic prosperity deal’ with the US. Is a wider security concern at play here?

And on the other side of the globe, Australians are preparing for a federal election, called by Prime Minister Anthony Albanese for May 3rd. It’s currently looking like a neck and neck contest. Peter Dutton, his Liberal Party opponent, has previously made Elon Musk-like noises, creating his very own shadow ministry for government efficiency… But at a time when Musk might be finding himself out of favour, is this a wise way for Dutton to position himself? 

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.

Technical Producer: Danny Pape 

Producers: Miriam Hall and Jarek Żaba

Executive Producer: Dino Sofos

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

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