Allegedly Ed Miliband is facing up to the fact the states finances are wrecked, though not admitting it's labour that did the wrecking mind you.
Perhaps he has no choice. If he doesn't say this none then the prospect of a Labour victory in 2015 could force a financial crisis on the UK. It's the only thing for him to say tho get elected - given that the prospect of his elevation to pm causing a run on the pound would probably stop him getting into office.
Hence how can anyone believe him ?