Break from past failures

possible for your kids to get on in life, I understand why you felt that we were stuck in old thinking about higher and higher levels of personal debt, including tuition fees.

“And when you saw jobs disappear and economic security undermined, I understand your anger at a Labour Government that claimed it could end boom and bust.”

Mr Miliband’s speech comes amid growing uncertainty over the future of his brother, amid speculation he could walk away from front line politics following his defeat.

And the fact Ed failed to win support from the majority of MPs or party members – relying instead on the unions – has magnified the importance of his speech in reassuring those concerned he may lurch to the left.