Ed Miliband MP, Leader of the Labour Party, in remarks to apprentices and staff at the VW National Training Centre in Milton Keynes tomorrow (Monday), will say:

“A lot of people think that David Cameron and George Osborne are trying to catch up with One Nation Labour on the cost-of-living crisis: from pay-day lending to energy bills.

“But the truth is they are struggling to catch up with the British people who live at the sharp end of an economy where the link between the wealth of our nation and family finances has been broken. That is the cost-of-living crisis that is happening in our country today.

“That is how this Government and any government will be judged. And it is how the Autumn Statement will be judged.

“The Prime Minister is today in China. David Cameron needs to understand a simple truth: we’re not going to win a race with China by winning a race to the bottom, by competing on low pay and low skills. And, if we try, it will be the people of Britain who lose.

“The only way we can compete with China - and the only way Britain can win - is by winning a race to the top. A race to the top where we compete on the basis of high skill, high tech, high wage economy – encouraging small businesses who want to grow, helping young people like you who want to get on and businesses like these which want to train, backing the real wealth creators in our country.

“But this Government seems to believe that the way we compete is exactly that race to the bottom. They think that for the majority, insecurity, low pay and squeezed wages are simply an immutable fact of life, the only way we can compete.

“And no amount of lectures about the global race can hide the fact our economy isn’t working in the right way. We see that in every walk of life.

There are too few proper apprenticeships and too little action from government to make them happen, too few opportunities for real training at work, too many jobs that don’t make work pay, still a culture of high City bonuses for those at the top and low wages for too many.

“Too many houses and flats priced completely out of reach of people starting out. And the costs of essentials - like gas, electricity and train fares higher than can be justified.

“If we don’t solve cost-of-living crisis now we store up problems for future: young people without a job don’t get a start in life, people stay on low pay year after year after year, people can’t progress without training.

“Now turning this round is going to be hard. But with the right focus from government it can be done. By standing up for ordinary families and not just a few at the top and earning and growing our way to a higher standard of living.

“From backing businesses that provide high quality apprenticeships to a different, regional banking system for the future helping our small businesses, to a Business Investment Bank, tax breaks for firms that pay a living wage and a culture which encourages long-term wealth creation.

“It requires a determination to shape a One Nation economy where everyone can play their part, not one providing only for a few.

“And that’s what we need to see in the Chancellor’s Autumn Statement this week.

“Not smoke and mirrors on electricity and gas bills or cosy deals with the Big Six that mean bills still rise this winter, but a real price freeze and action to reset the market to stop them overcharging again in the future.

“It’s right that the debate in Britain is now about the cost-of-living crisis. Political leaders need to understand the new challenges our country faces. That is the test of this Government this week. All the signs are that they simply don’t get it.”