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We're All In This Together - times are tough and there's a rallying call from politicians that we must share the pain to get the country back on track. But are we really all in this together?

This week, Defence: What will the cuts mean for our military and the UK's standing in the world?

Tony Livesey and his crew of fiery guests take you through the facts and opinions surrounding Britain's military power. Budget cuts were inevitable: the Harrier force gone; the carrier Ark Royal pensioned off; and some RAF squadrons disbanded and pilots losing their jobs. With all these changes, what is the reality of being on the frontline today?

Right-wing journalist and blogger Toby Young is pitted against left-wing New Statesman blogger and active cuts campaigner Laurie Penny, to thrash out opposing opinions over whether the cuts will impact on the security of the UK.

Following the Strategic Defence and Security Review defence spending will fall by 8% in the next 4 years. The RAF and Navy will lose 5,000 jobs each, the Army 7,000 and the Ministry of Defence 25,000 civilian staff. Further savings may be necessary in future years. We ask if this is a risky move, considering the forces' commitments abroad?

Or is there a real opportunity to make a clean break from the thinking of the past for the Armed Forces, as Defence Secretary Dr Liam Fox has said, and by being "ruthless and without sentiment", deliver and support the sort of foreign policy the country needs?

And what about the future? MPs, former soldiers and defence experts gather in our own Cobra-style meeting to thrash out with Tony, Laurie and Toby whether it's possible to deliver the armed forces of the future - "Force 2020" - or if economics will mean this is just un-fundable.