CANBERRA, ACT, May 12 -- The Treasurer of Australia issued the following transcript:

Note

Subjects: impact of the war in the Middle East, tax reform, federal Budget

Melissa Clarke:

Treasurer Jim Chalmers will deliver the Budget to parliament tonight. He joins me now. Jim Chalmers, thanks very much for speaking with AM this morning.

Jim Chalmers:

Thanks for having me back on your show, Mel.

Clarke:

So, can you explain for me the impact that the war in Iran and inflation and how that has affected this Budget?

Chalmers:

Well, the war in the Middle East has been a big influence on this Budget. It's obviously the reason why an important part of the Budget tonight will be a fuel security package, building on the very hard work that we'v...