Ed Balls Addresses the Labour Party Conference

The transcript discusses Labour's economic challenges and the need to adjust its policies. Ed Balls highlights the importance of a credible plan for growth and jobs while admitting past mistakes in public spending and regulation. He defends public spending's role in the financial crisis and outlines Labour's strategy to regain public trust, emphasizing humility and learning from past errors.

What does the speaker imply is necessary for Labour to regain public trust?

How does the speaker describe the current state of the Labour party in relation to the key argument?