Will pubs be the next big Labour U-turn?

Political Currency

Persephonica

Money, Politics, Economy, News, Ed Balls, Business, George Osborne, Westminster

4.1 • 1.5K Ratings

🗓️ 8 January 2026

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

2026 has begun dramatically, with Donald Trump ordering an attack on Venezuela, plus has had aggressive rhetoric against Greenland and other parts of Latin America. Ed Balls and George Osborne discuss how leaders in Europe should respond. Why has the US set their sights on securing Greenland? Is Keir Starmer’s careful response the right approach? And just how much is Trump being motivated by oil?

As Donald Trump sets the tone internationally, Keir Starmer is under pressure to make his latest domestic relaunch cut through. By focusing on the cost of living, can the government tap into one of the British public’s key policy concerns? Or is this mission too broad, and a hostage to fate?

Finally, the pair examine whether Labour is becoming the U-turn government… From farmer’s inheritance tax, to a potential U-turn on pubs’ business rates, is it a timely course correction? Or does it give the impression that the government doesn't know what they are doing?

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Credits:

Research: Sam Burton

Production: Caillin McDaid and Caitlin Hanrahan

Video Editor: Avi Asher

Executive Producer: Ellie Clifford

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

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Transcript

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0:00.0	This is political currency with Ed Balls and George Osborne.
0:31.8	So welcome to 2026 and a very happy new year from the Political Currency podcast.
0:39.5	Yeah, how exciting. I mean, we've both been doing new things in the new year. You've got a brand new studio at Good Morning Britain.
0:43.0	And as far as I can see, it's now the Susanna and Ed Show.
0:47.8	I mean, there used to be various other characters knocking around, but you're now the top billing.
0:48.7	Certainly not.
0:51.5	But Monday to Wednesdays, me and Susanna.
0:56.9	And the new studio was great this week, actually. It's a move from White City, the old BBC studios down in Shepherdsbush to the ITN building on Grayson Road,
1:02.9	wholly new set built. It's the same place as the lunchtime and the evening news is will come
1:07.6	from slightly smaller, but still great studio studio and I think the important thing is
1:12.3	it looks pretty much the same as it did before and that's what you want the most important thing
1:17.7	is continuity so me and sasanna Richard Maidly Kate Ranvere we'll all be presenting every week
1:24.1	hold on isn't the key thing there's that nice Italian restaurant on top of it now that can pop into for an early lunch after you finished. And a costa just up the road. I mean, you know, it's got everything. Although I have to say at 3.45 in the morning, it's not open. Oh, no, you can't get a bowl of carbunera? No. Oh, what a shit. No, not that early. And how about you know No, you are not in the UK. This is why we are remote. You are on the West Coast. For me, a new studio. For you, a new job. Yes, I've started my new job at Open AI. It's been absolutely fascinating. Once I've settled in, I'll talk a bit more about it, but it's been most extraordinary few days.
2:02.2	I feel I'm kind of touching the future.
2:04.5	Although I'm also feeling as I walk around with my pass and my laptop under my arm,
2:09.3	I'm a bit like a character in the internship.
2:12.1	Do you remember that movie?
2:13.5	Owen Wilson and Vince Vaughn who like go and I guess it's supposed to be Google.
2:18.8	They're middle-aged people retraining to be tech bros.
2:22.6	And there's a bit of that that I feel I'm doing.
2:25.1	But it's interesting and exciting.
2:27.7	Anyway, we've got a podcast to record.
	...

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