EMQs: Who can solve the business rates debacle?
Political Currency
Persephonica
4.1 • 1.5K Ratings
🗓️ 19 January 2026
⏱️ 38 minutes
🧾️ Download transcript
Summary
Fellow ex-minister Edward Timpson sends in a question this week, asking Ed Balls and George Osborne how they stayed mentally and physically healthy during their time in government. The pair share their guide for what all ministers should do to remain fit in and out of office.
Shevaun Haviland, Director General for the British Chambers of Commerce, then asks how the ongoing issues with business rates are solved permanently. George explains why this tax is one that causes issues for every government, and the problems inherent to reforming it.
A listener sends in a question from Tokyo, allowing Ed and George to delve into the decades-long standstill of the Japanese economy and the cult-like following new prime minister Sanae Takaichi has gained.
Finally, George explains why it’s easier to make promises in opposition than stick to them in government, revisiting plans by the Tories to downsize government cars before the coalition, and why it didn’t work out that way.
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.
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Credits:
Research: Sam Burton
Production: Caillin McDaid, Caitlin Hanrahan & Sam Psyk.
Video Editor: Avi Asher
Executive Producer: Ellie Clifford
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Transcript
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| 0:00.0 | The Chancellor of the Exchequer. |
| 0:02.0 | Getting a lesson from the Shadow Chancellor and how to balance the books, |
| 0:05.0 | it's like getting a lesson from Dracula and how to look after a blood pack. |
| 0:08.0 | Ed Balls. |
| 0:10.0 | As steady as she goes, budget. |
| 0:13.0 | What kind of ship does he think he's on, the Titanic? |
| 0:16.0 | Themary, Celeste. |
| 0:17.0 | Welcome to EMQs from Political Currency. |
| 0:20.0 | With Ed Balls and George Osborne. |
| 0:27.4 | Hello, welcome to ex-minister's questions, EMQs. |
| 0:33.1 | And, you know, while I've got, you know, a humdrum couple of days here in rainy London, |
| 0:38.6 | Ed is going to jump on the train and go to Versailles. |
| 0:43.4 | The Sun King is returning to his palace. |
| 0:46.3 | I'm going to the Trinon Palace Hotel for the Franco-British clock, which is a annual meeting. |
| 0:52.2 | Okay, explain what that means in English. |
| 0:53.3 | It's an annual meeting |
| 0:54.3 | between people from business, politics, media and civil society, which has been going on for |
| 1:02.4 | decades, where British and French come together and talk about what's going on in the world. |
| 1:07.1 | It's always really interesting. We've got lots to read on the train on the way over, so I'll get up to |
| 1:10.7 | speed next week on the podcast. I'll be able to talk about what's happening in French politics with a little bit more kind of insight because of this trip. And you, I think, also get on a, not a US style, but a plane. When you go off to Davos, do you go in your tech bro hoodie. Oh, the one I'm wearing right now? Yeah. Yeah. No, I think I'll probably wear a suit, actually. |
| 1:31.3 | Well... you go in your tech bro hoodie. Oh, the one I'm wearing right now? Yeah. Yeah. No, I think I'll probably wear a suit, actually. Well, maybe not for the, not for the flight. I think you should be authentic. I think, you know, now you're sort of... You need to wrap up. I mean, I know, because you've not really been to Davos. He's actually a ski resort, so you do have to wear pretty warm clothing one of the classic mistakes |
| 1:45.2 | is actually to turn up if you're a man turn up in a suit with the black leather shoes and then you see |
... |
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