The Shadow Chancellor begins to set out the price we are all paying for Gordon Brown’s broken society.
Britain needs a strong economy and a strong society.
For tackling social breakdown is not just a moral imperative.
It is an economic imperative too.
In an age of intense global competition, no country can afford the high taxes and expensive welfare systems that come with a broken society.
Iain Duncan Smith's Social Justice Report has told us that the cost of social failure in Britain is over £100 billion a year.
Until now we have tended to focus on what that means for individuals whose lives are blighted and whose aspirations are blunted. And of course it is right that we do so.
But consider what the £100 billion cost of social failure means for all of us who have to foot the bill.
To put that figure in context, it is the equivalent of an annual bill of £4000 for every family in Britain.
Or enough to abolish the 20 pence basic rate of income tax altogether and at the same time halve corporation tax.
In the next few months we are going to tell the British people of the price we are all paying for Gordon Brown's broken society.
We are going to reveal how Brown's welfare policies have created a hidden iceberg of unemployment, with 5 million people of working age - over one in ten adults - out of work and on benefits.
We are going to show how Brown's youth employment policies mean that there are now over a million young people not in work, education or training - more than in 1997.
We are going to expose how Brown's poverty policies mean that the poorest in our society have got poorer.
As part of our Stand Up Speak Up campaign we are going to shine the spotlight on Gordon Brown's broken society and work with the British public on how we can fix it.
The Prime Minister will not be able to run from his record. He will not be able to hide the damage his current policies are doing. He will be held to account.
We will show people the true cost of Gordon Brown.
We will show people how a strong economy goes hand in hand with a strong society.