ED Miliband will today set out Labour's grand 10-year plan, "Britain 2025", at the heart of which will be a bid to create a new home-owning democracy.

Speculation is also building that he will seek to use money from a mansion tax and reintroducing a 50p income tax rate to maintain funding in the under-pressure NHS.

In his keynote speech to conference, the last before the next General Election, the party leader will set out a "national mission" to restore faith in the future and ensure the next generation does better than the last; a policy he has previously dubbed the "British promise", the UK version of the American dream.

With Labour committed to balancing the nation's books by the end of the decade, Mr Miliband will make clear there will be no unfunded spending pledges and that the proposals, his six goals for Britain's future, will be delivered through big reform, not big spending.

The Labour leader will say: "So many people have lost faith in the future. I've met young people, who should have the brightest of futures, who tell me their generation is falling into a black hole. People in England who think all politics is rubbish. People in Scotland, who wanted to leave our country because they felt they had nothing left to lose.

"Our task is to restore people's faith in the future. But the way to do it is not to break up our country. It is to break with the old way of doing things; break with the past."

Mr Miliband will stress that his decade-long mission is not about changing policy but transforming the idea of how the UK is run.

At the heart of his plan is securing the future of Britain's young people by:

l raising the number of school-leavers on high quality apprenticeships so it is equal to those going to university;

l doubling the number of families getting on the housing ladder;

l preventing young entrepreneurs being locked out of mortgages and pensions and

l creating 1 million high-tech, high wage jobs in the green economy.

Mr Miliband's grand plan is to get Britain building again and "restore the dream" many people have of owning their own home. It was in the late 1970s that Margaret Thatcher spoke of a "property-owning democracy" when five million people were given the right to buy their council homes.

Housebuilding in the UK has reached its lowest level in peacetime since the 1920s and Labour fears the dream of home ownership is slipping out of reach for millions of young families with the number of first-time buyers under the current government averaging less than 200,000 a year.

House prices have risen annually in Scotland by 7.6 per cent to an average price of £198,000. Across Britain the increase has been 11.7 per cent to £272,000 and in London, the respective figures are 19 per cent and £514,000.

The Labour aim is to double the number of first-time buyers getting on to the housing ladder each year. It wants to increase the number of new homes being built to at least 200,000 a year by the end of the next parliament in 2020.

The Labour leader is also expected to make a major announcement on NHS funding, which is predicted to be facing a major crunch in the years ahead.

After Ed Balls, the Shadow Chancellor, yesterday suggested funding for Labour's proposed 10p tax rate would not be from the mansion tax but from scrapping the Tories' proposed marriage tax break, speculation rose that filling any NHS funding gap could come from the planned tax on large homes and possibly from an even higher "oligarch tax" on multi-million pound houses owned by foreign billionaires.

l Ed Miliband yesterday thanked those who had been instrumental in securing a No victory in the referendum but forgot to mention one person - Gordon Brown, who is regarded by many as the man who saved the Union.