Why blaming Brexit won’t save Rachel Reeves
Political Currency
Persephonica
4.1 • 1.5K Ratings
🗓️ 23 October 2025
⏱️ 62 minutes
🧾️ Download transcript
Summary
As Chancellor Rachel Reeves prepares for a tough Budget, a new narrative is emerging: it's all Brexit's fault. Ed Balls and George Osborne examine whether the 'Brexit blame game' is a smart political strategy or a 'backward-looking excuse' that voters won't buy. And they discuss if it's too late for Labour to build a compelling economic story.
Then, the pair dive into the 'appalling' turmoil inside Keir Starmer's No. 10. Are 'staggering' and 'juvenile' briefings against the new Cabinet Secretary a sign of a government in chaos? And as the Prince Andrew saga dominates the headlines, they debate the 'endgame' for the Senior Royal and why George believes it’s time for the Prime Minister to step in.
Plus, with George reporting from San Francisco, the pair give their take on the AI boom. With 'eye-watering valuations' for companies like OpenAI, is the world on the verge of an AI bubble bursting?
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Assistant Producer: Caillin McDaid
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Video Editor: Oliver Geraghty
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Transcript
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| 0:00.0 | This is Political Coancy with Ed Bulls and George Osborne. |
| 0:29.5 | So we are here. |
| 0:30.7 | I say here. |
| 0:34.0 | We're into entirely separate places and in very different time zones. |
| 0:39.0 | I'm recording in London, Wednesday early evening. George is in San Francisco on a Silicon Valley trip. So he's recording Wednesday morning. And because we're doing this late |
| 0:44.0 | in the day in Britain, it's going to land on Thursday in the UK. Polling will be just open |
| 0:51.3 | in the carefully by-election, which as we we said last week, could be a bit of an |
| 0:54.8 | earthquake in British politics. And it will also be the last day of voting in the Labour |
| 0:59.9 | Deputy Leadership context, less of an earthquake, but, you know, with significance. So this |
| 1:05.1 | podcast is landing on an important day. Yeah, it's morning in America here again, although I guess we're a bit |
| 1:11.9 | nervous of talks of earthquakes given I'm right in the middle of San Francisco. I'm looking |
| 1:17.8 | outside of my hotel bedroom at this absolutely iconic building, the Transamerica Pyramid, |
| 1:24.5 | which is that kind of triangular building in downtown San Francisco, which has got |
| 1:29.3 | a sort of strange, kind of reverse pyramid at the top to protect it in an earthquake. |
| 1:33.9 | Anyway, it's just been redone by Norman Foster, and it's got a spectacular interior, |
| 1:39.9 | which is totally open to the public. |
| 1:41.5 | And this whole area of San Francisco, I know people will tend to hear stories about how downtown San Francisco is a bit of a war zone. |
| 1:48.6 | And there's a lot of terrible situations with people with drug problems on the streets. |
| 1:53.4 | I have to say, I've noticed it's got quite a lot better since I last was here. |
| 1:58.8 | It feels like a kind of cleanup is underway. And there's quite a tough |
| 2:02.4 | Democrat mayor of San Francisco who is leading all of that. Every time I come to America, |
| 2:08.8 | I think you probably have the same feeling when you come. You're sort of re-energized and I've got |
... |
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