It rather depends on what the penny pinching is, Southern Railway saved lots by reusing things and prefabricating lots of standard concrete components. But this allowed them to boost frequency, electrify etc
Both the DfT and politicians, Covid is nearly 6 years ago, but there has been no attempt to return to growth or improvement contracts (instead of management contracts) couple of years ago. Labours obsession with nationalisation is just adding 3-5 years of stagnation (whilst they dither over GBR setup), leaving XC parent company to plod on milking it for profits as long as they can, without really having to worry about what state they leave it in by 2027-28 (as in will it be fully staffed with well trained employees etc)
I realise some (overdue) refurbishments are taking place of voyagers and 170s, but that is bare minimum investment. XC has basically been cuts or no change, to both routes and train lengths since Arriva took over 18 years ago. Not expansion, or more seats, or faster services, or quality improvements etc.