Full text and extracts of Ed Miliband’s speech to Labour’s National Policy Forum.
22nd June 2013
“None of us get to choose the times in which we live and we won’t get to choose the circumstances of the next Labour government either.
“If we win the election, we will come to power in tougher economic circumstances than we have seen in generations and that will have to shape the way that we govern.
“Our starting point for 2015-16 will be that we cannot reverse any cut in day to day, current spending unless it is fully funded from cuts elsewhere or e xtra revenue – not from more borrowing.
“So when George Osborne stands up next week and announces his cuts in day to day spending, we won’t be able to promise now to reverse them because we can only do so when we can be absolutely crystal clear about where the money is coming from.
“It’s a hard reality. But I am clear about it, Ed Balls is clear about it, and everyone in the Labour Party should be clear about it too. People will only put their hope in us if we show how we will make a difference. But people will only put their trust in us if we show we are credible. Only if we have the discipline to face the challenge of our times, can we change the direction of our country.”