A somewhat sporty one this episode, as in the wake of a Davos meet, George Osborne and Ed Balls consider: Why hasn’t David Beckham been knighted yet? Lady Posh Spice would just sound so good.

Meanwhile, Former Minister for Sport Tracey Crouch asks if there’s any way to keep politics out of sport under Trump’s presidency. With a World Cup and an Olympics games in the US this year, what will be at stake under the new administration?

And, the pair slip into professor mode to break down a few lessons of the Chancellor. What is the oft-discussed bond market? And while they are at it,what actually is Downing Street’s “The Grid”?

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Production support: Caillin McDaid

Technical Producer: Oliver Geraghty

Producer: Rosie Stopher and Miriam Hall

Executive Producers: Ellie Clifford

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