JAMES GLENDAY, HOST: It's been a big few weeks in Canberra and we've been hearing from you this morning about what sort of things could really help you deal with the rising cost of living. So, who better to ask than the Prime Minister, Anthony Albanese, who joins us now in the studio. PM, good morning.

ANTHONY ALBANESE, PRIME MINISTER: Good to be here in Melbourne.

BRIDGET BRENNAN, HOST: Yeah, great to see you, PM. We're celebrating Lunar New Year, of course. Year of the Fire Horse.

HOST: Oh, you pressed the right button because in honour of the Prime Minister coming in, you've played that song. Prime Minister, welcome to the show.

HOST: Welcome.

HOST: Thank you for joining us. Have you got your Joy Division t-shirt on?

ANTHONY ALBANESE, PRIME MINISTER: Great to be in Melbourne. I don't this morning. I'm in a suit, as you do, unfortunately, but I'm much more comfortable in a band t-shirt, I've got to say.

The $20 million renovation of Henson Park is now complete, securing the future of one of Sydney’s most iconic sporting venues for generations to come.

Last year, the first stage of works for the project delivered a much-needed upgrade to the King George V Grandstand and four new female friendly change rooms. The facilities were in dire need of an upgrade as they were constructed for the 1938 Empire Games.

These works were jointly funded by the Inner West Council, the NSW Government, the Australian Football League (AFL) and the Australian Government.

MARK BUTLER, MEMBER FOR HINDMARSH: About 40 years ago, the Hawke Government and the Bannon Government, two visionary Labor governments, came together and decided to build a defence precinct here on the Lefevre Peninsula. And it has served obviously the country, almost the world, by securing our naval capabilities. But for the state of South Australia and the community I have the privilege of representing, it has been a huge driver of economic prosperity and of secure, well-paid jobs as well.

The Albanese and Malinauskas Labor Governments are ensuring that South Australia remains the home of Australia’s submarine construction, with expenditure projected to be billions of dollars in the state over coming decades.

Today the Albanese Government is announcing it will invest $3.9 billion as a down payment to deliver the new Submarine Construction Yard in Osborne.

I begin by acknowledging the traditional owners of the land on which we meet and I pay my respects to their elders past, present and emerging.

Thank you, Janelle, for your kind introduction.

And thank you for being such an outstanding example of how when Labor wins in the regions, the regions win with Labor.

Thank you all for that very warm Country Labor welcome, here in the beautiful Central West.

I acknowledge all my state and federal Labor colleagues.

JACQUELINE MALEY, HOST: Hello and welcome to Inside Politics. I'm Jacqueline Maley. We're bringing you a very special extra episode of the podcast today, because the Prime Minister Anthony Albanese had an opening in his diary and he's granted us an audience. So, we're very happy to welcome the Prime Minister to the pod. He's joining us from the Canberra Studio just after question time on Thursday along with our chief political correspondent, Paul Sakkal. Hello, PM.

ANTHONY ALBANESE, PRIME MINISTER: Good afternoon. Good to be with you.

I begin by acknowledging the traditional owners of the land on which we meet, and I pay my respects to Elders past, present and emerging.

I would also like to acknowledge Her Excellency, the Governor-General.

To be here every year with you remains one of my greatest honours as Prime Minister.

I particularly want to welcome the survivors who grace us with your presence here this morning. Your strength gave us all the chance of a better Australia.

When we look back to that extraordinary day 18 years ago, we are looking back to the fulfilment of a promise.

I begin by acknowledging the traditional owners of the land on which we meet and I pay my respects to their elders past, present and emerging.

I acknowledge our outstanding Minister for Indigenous Australians, Senator McCarthy.

Together with First Nations Members and Senators, from across our Parliament.

We all join in welcoming members of the Stolen Generations and the Aboriginal and Torres Strait Islander leaders here in the Chamber today.

You enhance this place with your presence.

HOST: But to lead off the hour it's the Prime Minister of Australia, Anthony Albanese. Prime Minister, good morning to you.

ANTHONY ALBANESE, PRIME MINISTER: Good morning. You can dream of being on that course and actually competing there. So, that's, that's something that you've got.

HOST: It's a bit better than that course in Marrickville in the seat of Grayndler, Prime Minister.

PRIME MINISTER: There is nothing wrong with Royal Marrickville. It is one of the world's great par-62 courses.