Are the Labour party really complaining about the choice of terminology?

The BBC report that:

'Officials complained that a BBC London News report concerning NHS budgets used the word “savings” instead of “cuts”.

Labour claims the report, broadcast on BBC One after the News at Ten on Monday night, was biased in favour of the Coalition’s spending programme, an allegation strenuously denied by the corporation.

Officials are reportedly angry that cuts were described “savings” on at least half a dozen occasions during the bulletin, with an accompanying graphic also using the phrase.'

I am sorry, excuse me, but is that the Labour Party, the party that re-branded 'spending' as 'investment' complaining? Do they really have the brass necked cheek?