Given a graph with n vertices, k terminals and positive integer weights not larger than c, we compute a minimum Steiner Tree in
time and
space, where the
notation omits terms bounded by a polynomial in the input‐size. We obtain the result by defining a generalization of walks, called branching walks, and combining it with the Inclusion‐Exclusion technique. Using this combination we also give
‐time polynomial space algorithms for Degree Constrained Spanning Tree, Maximum Internal Spanning Tree and #Spanning Forest with a given number of components. Furthermore, using related techniques, we also present new polynomial space algorithms for computing the Cover Polynomial of a graph, Convex Tree Coloring and counting the number of perfect matchings of a graph.