Britain's nine-year programme to cut its budget deficit has reached the midway mark. The results have been surprising: economic growth has returned, foreign investment is strong and employment is reaching record levels, but progress has been slower than expected and it seems the toughest part still lies ahead. Michael Stott is joined by Chris Giles and Jim Pickard to discuss the political implications.

Chris Giles will answer questions about the cuts in a follow-up podcast next week. To take part, email audio@ft.com For information regarding your data privacy, visit acast.com/privacy