Labor slams govt over savings error

Labor says the government's claims of more than $6 billion in budget savings from its omnibus bill is now actually less than $6 billion

Labor has slammed the government for a "computational error" that has taken promised savings from the omnibus budget repair bill below $6 billion.

Shadow treasurer Chris Bowen said the government had been claiming for weeks this would produce more than $6 billion in savings.

But with the latest adjustment, that's now down to $5,996.6 million.

In a statement released on Wednesday evening, Treasury acting secretary Michael Brennan said the financial impact table for the bill incorrectly stated that the measure relating to student start-up scholarships would save $405.6 million over the next four years.

The total across the forward estimates should be $298.1 million because of a changed start date, Mr Brennan said. He attributed that to a computational error.

Mr Bowen said Treasurer Scott Morrison had clearly misled the House of Representatives in claiming more than $6 billion in savings.

"If Labor found this error in two days, why couldn't he find it in two weeks? No wonder the budget is in such a mess," Mr Bowen said in a statement