Is 'extreme austerity' over?
Labour's strong showing in the general election with an unashamedly big spending programme for government raises questions about the future of austerity. Fraser Nelson, editor of the Spectator and Liam Byrne, former chief secretary to the Treasury in the last Labour government and MP for Birmingham Hodge Hill, discuss with Sarah how "extreme austerity" is over. (Image: Picketing signs, credit: Getty Images)