We had 14 years of the Tories trying to cut welfare/public spending, with nothing to show for it. Labour are pretty much following the Tory spending plans, so unsurprisingly, they've been about as successful. If you look at the numbers, there's no realistic prospect of significant savings,unless you want to slash pensions or the NHS. That's why the whole austerity thing was never going to work. If they want to fix the accounts, they need to raise revenue, by raising taxes, or growing the economy.