Mr Miliband, who lives and works in New York, said the UK needs to “get shot of Brexit” and focus on other issues such as social reforms.
The Europhile also vowed to join any campaign to reject Theresa May‘s Brexit deal with the EU if she is forced to hold a public vote on the issue.
He insisted he would campaign “more effectively” having failed to secure a Remain victory in the historic 2016 referendum.
Mr Miliband told an audience at the Hay literary festival in Powys, Wales: “The truth about Brexit is two fold.
“One, it is squeezing the life out of politics and its ability to address precisely the concerns that drove people to vote for Brexit in the first place.
“There is no legislation on social care, there is no legislation on housing and homelessness, there’s not even legislation on immigration.
“Brexit is squeezing the life out of the social and economic reform that the country…