Political Currency

As renewed violence erupts across the Middle East, governments have been forced into crisis mode... but when is the right time to intervene, how involved should you get and when, if ever, is it time for 'boots on the ground'?

It's these dilemmas and more that are currently facing Keir Starmer and other world leaders, but it's not the first time a UK government has had to find answers for such big questions about international intervention.

Fifteen years ago the civil unrest of the Arab Spring spread to Libya. The violent crackdowns against anti-government protestors that followed sparked seven months of NATO military intervention and led to the killing of Muammar Gaddafi, putting an end to his 42-year dictatorship.

In this special mini series, Ed Balls and George Osborne are joined by former MI6 Chief Sir John Sawers to discuss the key decisions, missteps, and aftermath of the Libya crisis. We take you inside the war rooms and hear unique insights from John, George and two other officials who saw key decisions being made first-hand: former EU High Representative for Foreign and Security Policy, Cathy Ashton, and deputy national security adviser to the coalition government, Hugh Powell.

What can the wars of the past can teach us lessons for the wars of today?

In part one, we look at how the UK government reacted to the escalating situation, why David Cameron and then-French President Nicolas Sarkozy pushed for military action, and the steps that led to the first bomb being dropped… and how it managed to surprise Britain.

Thanks for listening. In our next episode we take you right behind the scenes of the military action and hear about all of the drama that ensued, including the moment Sir John Sawyers took an informant for a secret dinner…

Can’t wait? Subscribe now to get all three parts of Inside the Room: The Libya Conflict. You will also get access to our debrief episode The Inquiry, as well as early and ad-free access to our regular episodes of EMQs.

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Please note: Kitchen Cabinet is only available via Patreon.

Credits:
Research: Monica Lillis, Ayla Krachai, and Sam Burton
Production support: Tom Jackson
Production: Caillin McDaid and Nasreen Arain
Video Editor: Avi Asher and Oliver Geraghty
Executive Producer: Ellie Clifford and Henrietta Harrison

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

Fellow ex-MP and former health minister Steve Brine sends in a question asking Ed Balls and George Osborne how we judge the performance of a health secretary, and in particular Wes Streeting. They lay out the historical challenges of the role, and where Streeting has risen or succumbed to them thus far.

A colleague of Ed’s from King’s College then asks how useful it is for benefits to be so conditional, in particular for care leavers. They debate the fairness in having conditional benefits systems, and why people are more sympathetic to care leavers than other disadvantaged groups.

They then discuss the perks of pedestrianising Bruton, George’s stomping ground, in a manner similar to Paris. Would George lead the campaign to see this through? Or is it an enticing but unrealistic idea?

Finally, a former Tory parliamentary candidate raises his concerns around Nick Timothy’s controversial comments on a Ramadan event in London. They discuss the dangerous direction these comments represent for both the Tories, and British politics more widely.

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.

This podcast is sponsored by Chip. Join 400,000 customers building long term wealth.

T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.

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 Podcasts

Please note: Kitchen Cabinet is only available via Patreon.

Credits:

Research: Sam Burton
Production: Caillin McDaid & Henrietta Harrison
Video Editor: Avi Asher
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.

Nearly a month into the war in Iran, and the White House’s objectives are no clearer. Donald Trump is sending conflicting signals - peace overtures in one moment, threats of further escalation in the next. The consequences of this instability is rippling far beyond the Middle East. Ed Balls and

George Osborne examine what Trump actually wants, and what his mixed messages might mean for allies like Britain, struggling to keep track.
At home, Keir Starmer and Rachel Reeves are on the backfoot. With the local elections just weeks away, and both Reform and the Greens on the rise, is the Prime Minister facing down an electoral battering at the polls? Is this the moment Labour's difficulties harden into something more lasting - could the May elections be a dress rehearsal for the next general election? Oh, and what on earth happened to Morgan McSweeney’s phone?

Finally, from political vulnerability, to political victory. Ed and George reflect on the one year anniversary of Mark Carney’s premiership. How has he managed to turn around the fortunes of the Liberal Party in remarkably difficult circumstances - and what lessons Starmer and other leaders facing similar headwinds might take from his playbook.
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.

This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.

T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.

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 Podcasts

Please note: Kitchen Cabinet is only available via Patreon.

Credits:

Research: Sam Burton
Production: Caillin McDaid & Caitlin Caitlin Hanrahan
Video Editor: Avi Asher
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.

Fresh off regaling us with his tales in a Silicon Valley robotaxi, George Osborne is asked if they’re bound for London and what risks they may pose, in this week’s EMQs. Ed Balls echoes some of our listener’s concerns, but George argues this is no different than other tech evolutions like Uber.

The pair are then asked why Britain often appears reactive and not proactive for big economic shocks like the wars in Ukraine or Iran. Is this emblematic of problems within the Treasury? Problems in government? Or, an uncharitable read of tough political circumstances.

Finally, an anonymous police officer asks if the Home Office should focus more on retaining experienced officers, rather than recruitments and mergers, to improve services. He also poses a possible solution to this problem - should the police be permitted to take industrial action? Ed and George debate the merits of recruitment drives and what endemic issues need solving to help improve the police.

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.

This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.

T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.

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 Podcasts

Please note: Kitchen Cabinet is only available via Patreon.

Credits:

Research: Sam Burton
Production: Caillin McDaid & Henrietta Harrison
Video Editor: Avi Asher
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.

The war in the middle east has entered its third week. Tensions rose overnight when Israel hit a natural gas field in Iran, and Iran retaliated by bombing gas facilities in Qatar. The result was oil prices skyrocketing. Ed Balls and George Osborne discuss what appears to be a communication breakdown between Israel and the US, and question whether they are aligned in their respective endgames.

Earlier this week the Chancellor Rachel Reeves gave the Mais lecture at the Bayes Business School. She said fiscal devolution, closer relations with Europe, AI and innovation would bring growth in the UK. But was the speech too partisan and lacking economic theory?

And, Angela Rayner is back - delivering a speech criticising the government’s proposed immigration reforms. Is she planning to stick the knife in Keir Starmer, à la Michael Heseltine and Margaret Thatcher, and if so - does she have the right qualifications to lead the country? Ed and George look at past transitions mid-government for Labour and more widely, and examine how Rayner’s strengths and weaknesses may impact her chances at No. 10.

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.

This podcast is sponsored by Chip. Join 400,000 customers building long term wealth. Also Chip have agreed that just for our listeners, for your first £10,000 deposited into Chip before midnight 20 March 2026, they’ll give you a Fortnum & Mason hamper after holding it for 90 days - just head to getchip.uk/politicalcurrency.

T&Cs apply, you must be a new Chip customer, over 18, a UK tax resident, and it’s app only. Chip is a trading name of Chip Financial Limited. Savings products are provided by Clearbank and are protected up to the FSCS limit. When investing, your capital is at risk.

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 Podcasts

Please note: Kitchen Cabinet is only available via Patreon.

Credits:

Research: Sam Burton
Production: Caillin McDaid & Henrietta Harrison
Video Editor: Avi Asher
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.