CANBERRA, ACT, May 12 -- The Treasurer of Australia issued the following transcript:
Note
Subjects: conflict in the Middle East, tax reform, migration
Anna Henderson:
I spoke to the Treasurer a short time ago and started off by asking him about whether that worst‑case scenario would mean a recession.
Jim Chalmers:
We're not anticipating a recession under any of the scenarios that we've provided in the Budget. But there is a more severe scenario that we've tried to set out for people to give them a sense of just how hostage we are to developments in the Middle East. It's a big influence on the Budget. It's a big reason why the first priority of the Budget is to help people through a difficult period because the risks from the war...