Only four government ministers have saved money this year. Here's who

Detailed summary

As the government pursues savings "across the board" ahead of the mid-year budget update, an ABC analysis shows only a handful of ministers have managed net savings so far this year.

Four federal ministers have achieved net savings in their portfolios this financial year, according to ABC analysis of the May budget.

The government is searching for savings ahead of the mid-year budget update, but has not committed to a net save.

Only four out of more than 20 government ministers have managed to save more than they have spent this year, pointing to challenges across the board as the cabinet works to rein in spending.

Stung by the accusation from the opposition and some commentators that the federal budget is worsening inflation and fuelling interest rate hikes, ministers have indicated they are searching for fresh savings ahead of December's budget update.

Finance Minister Katy Gallagher has indicated the government is looking "across the board" for savings, but has declined to commit to a "net" saving — that is, big enough to offset any new spending.

A net save of $8.2 billion was achieved in the May budget, measured over the full five years of budget forecasts. But the government failed to achieve a net save for this financial year, when inflation pressure is most acute.

Looking at this year alone, the government spent $8.7 billion more than it saved. It also raised an extra $2.2 billion in revenue, meaning the budget was $6.5 worse off overall.

Only Infrastructure Minister Catherine King, Education Minister Jason Clare, Agriculture Minister Julie Collins and Treasurer Jim Chalmers achieved net savings for the 2026-27 financial year, according to an ABC analysis of budget papers.

Of these, only Ms King's portfolio had substantial net savings with $1.3 billion overall, mostly from the decision not to proceed with programs including Inland Rail.

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