"In recent weeks it has become clear that the Labour Party has placed its financial future in the hands of soft loans and contributions from trade unions.
The problem is that this disenfranchises Labour's membership by handing control of policy to funders - we attack the Tories for this but never look to our own problems.
Worse still, this situation is an offence to Labour voters. The millions of men and women from all classes, all ethic groups and every town who put their trust in the great party to provide leadership and direction for Britain.
So today I am announcing that the Labour Party won't be taking million pound donations from trade unions, will not negotiate soft loans with friendly banks to cover up financial weaknesses and will refuse to accept any donation bigger than £1,000.
There are eight million Labour voters. If each one gave us just £5, we'd have more than enough to fight a general election. And I'm sure there are many thousands of Labour people who'll give a little more - £50, maybe, for some, £500.
The message Labour will send British voters is that we will never again sell our party to the highest bidder, auction policies in exchange for finance or go cap in hand to friendly banks for soft loans.
The challenge I lay down to David Cameron is this:
Do the same. Join Labour in refusing to accept any more big donations. Make British politics better again. Remove the buying of influence that so distorts that politics. Refuse to accept any donation bigger than £1000.
If you don't the British people will know who's on their side."
With a few changes David Cameron could make this statement too - and it really would change British politics for the better if he - or Ed Miliband - did so.