The shadow chief secretary to the Treasury, Rachel Reeves, has accused the government of failing to cut inefficiency and borrowing.
Former pensions spokesperson Reeves also highlighted instances of "questionable spending" at the Ministry of Defence (MoD) and other departments.
Addressing the Institute of Public Policy Research (IPPR) today, Reeves said: "[The government] said it would cut borrowing, but they are borrowing £158bn more than they planned."
As the government today announced public spending in January was in its highest surplus in four years, Reeves claimed spending is still higher and tax revenues lower than the government planned.
"The Chancellor might claim to be on track when today's public sector finances figures come out, but he is only on track for targets which have already been revised up by a staggering £158bn," said Reeves.
At the same time, £34.7bn had been spent on tax credits and social security benefits which were not budgeted for, Reeves claimed.
During her speech Reeves also attacked "wasteful" spending by government departments.
She claimed the MoJ spent £900 on cosmetics over 2010/11, whilst the Ministry of Defence (MoD) spent £69,000 on music and pianos.
The Department for Energy and Climate Change (DECC) spent £72,000 on away days for staff and the Department for the Environment (DE) spent £192,000 on first class train tickets.
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