The federal government shared details of its plan to cut government spending by $500 million.

The government said the cost-cutting initiative excluded small organizations from the $25 million annual budget.

Some agencies, such as the Canadian Space Agency and the Investment Canada Hub, will deposit more than one percent of their spending back into their coffers, but 61 departments and agencies are not listed among the government entities for cuts.

Similarly, the government is reducing budgets of some national museums - like the Canadian Museum of Nature and the Canadian Museum for Human Rights - by about 0.2 percent, but the National Science and Technology Museum, which spends $39.5 million annually, will do so. Watch a piece, not listed in the first list.

Also among the government departments on the list, the Department of Finance received the smallest cuts, with only $827,000 cut from its $118 billion budget.

In the 2023 budget released in April, Finance Minister Chrystia Freeland said the government's pledge to cut spending represents savings of $15.4 billion over the next five years.

The Department of National Defence also received significant cuts – $211.1 million of the total $500 million cut. This represents about 0.76 percent of the estimated spending of $27.5 billion.

The Treasury Board acknowledged in documents that the impact of cuts may vary from one department to another. The ministry said ministers and their departments were given flexibility to reduce spending within their portfolios.

For its part, Treasury Board President Anita Anand told reporters that this is just the first slice of results related to our spending review.

The government has emphasized for months its plan to curb spending, cut travel costs, and reduce the amount spent on professional services by external contractors.