SALLY SARA, HOST: Well, the Federal Government is tomorrow handing down a high-stakes Budget amid stubborn inflation and significant global uncertainty. The Federal Treasurer, Jim Chalmers promises the Budget will take the hard road of reform rather than the path of least resistance, flagging tax changes to tackle intergenerational equity. Anthony Albanese is the Prime Minister and joins me now. Prime Minister, welcome back to Radio National Breakfast.

ANTHONY ALBANESE, PRIME MINISTER: Good morning, Sally.

Your Excellency, the Governor General of Australia. 

Premier Jacinta Allan. 

My Deputy Prime Minister, Richard Marles, and members of the team who are here. Members of the Federal Parliament, including the Speaker of the House of Representatives.

Other distinguished guests who are here. Particular congratulations
to the first leaders – elected leaders of the assembly here in Victoria. 

125 years ago, formalities commenced here with the singing of God Save the King. 

CARINA GARLAND, MEMBER FOR CHISHOLM: Good morning, everybody. I'm Carina Garland, I'm the Federal Member for Chisholm. And I'm so pleased to see so many people here today, including, of course, the Prime Minister of Australia, Anthony Albanese, the Premier of Victoria, Jacinta Allan, Ministers and State and Federal colleagues. I've lived in the southeastern and eastern suburbs of Victoria almost my entire life, and I know how important infrastructure and connectivity is for this community.

The Albanese Government continues to invest in Victoria’s future with a new investment of $3.8 billion towards the transformational Suburban Rail Loop (SRL) East project. 

Delivered as part of the 2026 Federal Budget, this investment brings the total Albanese Government spend for the project to $6 billion. 

SRL East will deliver a 26-kilometre underground orbital rail line through Melbourne’s eastern and south-eastern suburbs.

HOST: I've organised today's mystery guest.

HOST: Uh-oh. Are we playing like game?

HOST: I can't believe this person has agreed to be our mystery guest. Anyway. Okay.

HOST: Really? Are we guessing now?

HOST: Sidle towards the door, mystery guest. Now, you're going to have to bring your guesses through me, please.

HOST: Okay. All right. They're behind a box.

ANTHONY ALBANESE, PRIME MINISTER: Good morning. This morning, the National Cabinet has met for another important update on our preparedness for the National Fuel Security Plan. It is important to recognise the fact that the longer that the Strait of Hormuz is essentially shut, even in spite of the ceasefire being in place for four weeks now, the longer this conflict goes, the greater the impact will be. It's as simple as that. Our number one priority remains shielding Australians from the worst effects of this crisis.

The Albanese Labor Government has announced today that the Federal Budget next week will include an Australian Fuel Security and Resilience package to ensure energy sovereignty and protect our nation’s energy interests.

The package will provide more than $10 billion to secure Australia’s near-term fuel and fertiliser security, establish a permanent Government-owned Australian Fuel Security Reserve of around a billion litres, and lift the Minimum Stockholding Obligation by around 10 days for every type of fuel. 

ALI FRANCE, MEMBER FOR DICKSON: Good morning everyone. Welcome tot he Murrumba Downs Medicare Urgent Care Clinic. In particular I want to welcome our Prime Minister. This Medicare Urgent Care Clinic opened in 2023, and it has become a much-loved part of our local community. At the end of last year, I actually came here to deliver a cake, a big celebratory cake, to celebrate the milestone of 25,000 patients. And now we have over 32,000 patients, and that is such an incredible achievement. And I think that local residents are going to be so incredibly happy.

ANTHONY ALBANESE, PRIME MINISTER OF AUSTRALIA: Well, can I say that it is an honour to welcome Sanae to Australia, as we mark a truly special milestone. 50 years since our countries signed the historic Basic Treaty of Friendship and Cooperation. That Treaty was first championed by Prime Minister Whitlam in 1973 when he visited the historic capital city of Nara, sister city to Canberra and the home district of Sanae.

ANTHONY ALBANESE, PRIME MINISTER OF AUSTRALIA: Well, Prime Minister, a very warm welcome to you here in Australia and in Canberra. You are here for our Annual Leaders' Meeting, but most importantly to celebrate 50 years since the signing of our Basic Treaty of Friendship and Cooperation. This is a relationship with a foundation built on trust, on friendship, and on looking after each other's interests. It was a bipartisan initiative here in Australia, initiated by the Whitlam Labor Government, that then followed up by the Fraser Liberal Government.