Has Britain's defence budget been cut too far?

Defence correspondent Caroline Wyatt asks whether Britain's defence budget has been cut too far and whether it should re-examine its global ambitions.

Although Britain still has the fourth biggest military budget in the world, much of it has been earmarked for projects like the two new aircraft carriers, fighter planes and preparing to replace Trident submarines.

The British Army has borne the brunt of the cuts, having been halved in size and Falklands veteran Simon Weston says he believes Britain will live to regret the defence cuts.