Labour leader Ed Miliband
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Ed Miliband: Economic situation worst 'for generations'

22 June 2013 Last updated at 12:18 BST

Ed Miliband has told Labour Party policy makers the state of the economy will seriously limit their options if they regain power in the 2015 election.

He said the situation they were facing would be more difficult than in any time "for generations", and that Labour would not be able to reverse spending cuts implemented by this government for at least the first year of the next session.