Austerity: Is it really over? All you need to know explained in 5 minutes

Economics editor Ben Chu assesses the truth of claims that the Conservatives' economic project is being abandoned.

A fierce political debate is raging about whether austerity for the UK, after seven long years, is finally over. But what actually is austerity? Who was responsible for it? What was it for?

Did it actually achieve what it was supposed to achieve? And what were the human costs of the policy?

Finally, should we believe those who say that the end is in sight? Here Ben Chu, the economics editor of The Independent, tackles all those questions.