It depends upon whether Labour are going to stick to strict fiscal rules, if they do then very little is going to change. It needs to be remembered that we're not living in the Blair years where debt is low and the country is growing.
Technically we still haven't really recovered from the 2008 crash, it has just got steadily worse and then there was COVID too which was arguably even worse.
It can't be understated how these impacts will seriously hamper any ability to do much, unless of course spending rules are ignored and they open the taps anyway.