Ed Miliband's "lost decade" speech will be planted firmly in the scare category

Labour leader will warn of a Japan-style crisis.

The government's economic plan is failing, and the UK faces a "lost decade", Ed Miliband will say in a speech in Birmingham today.

He will warn that the UK could go the way of Japan during the 1990s unless something is done to turn it around, and will argue that there's a way this can be done.

Japan never quite recovered from its burst bubble of 1989 - and the crisis brought its economy to a standstill for about 10 years, as it watched rivals China and South Korea expand. Miliband's message - which also will stress that Britain is in the slowest recovery for 100 years - is planted firmly in the scare category. It will also echo Vince Cable, who warned of a "lost decade" back in December.

In an interview with the Times Miliband said:

This Government is now leading Britain into that lost decade. They’re shrugging their shoulders. They have run out of ideas. They are resigned. It is One Nation Labour’s task to show people it does not have to be this way. Not promising overnight answers. Not promising that things will be easy.

He will also attempt to make a distinction between public faith in David Cameron and public faith in politics in general:

I know that however discredited, divided and damaging this Government is, I will not assume that their unpopularity will mean people turn to Labour. Indeed, many people will believe that the failure of this Government means they should give up on politics altogether.

...and lay the groundwork for rebuilding trust in Labour:

I have sought to understand why people left Labour. From banking regulation to immigration to Iraq, I have been clear about what we got wrong.

Miliband's alternative measures, he told the Times, will include an apprenticeship programme, reforming banks and the energy market, a 10p income tax, and a "real jobs guarantee" for the young. 

Ed Miliband. Photograph: Getty Images
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Watch: David Cameron calls on Jeremy Corbyn to stand down as Labour leader

The soon-to-be-ex Prime Minister shouts "for heaven's sake man, go!" in a heated exchange at Prime Minister's Questions.

Losing track of what the various players in the ongoing constitutional crisis believe? Sick of politicians flip-flopping? Starting, frankly, to get tired of the whole thing?

At today's PMQs, David Cameron looked equally rattled - but he managed to make one thing clear. After Jeremy Corbyn made a reference to Cameron's imminent departure from the top post, the Prime Minister replied by saying the Labour leader should also stand down.

"It might be in my party’s interest for him to sit there," Cameron said. "It's not in the national interest. I would say: for heaven’s sake, man, go!"

Watch the clip below:

I'm a mole, innit.