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

Note

Joint press conference with

Senator the Hon Katy Gallagher

Minister for Government Services

Minister for Finance

Minister for the Public Service

Subjects: federal Budget, fuel security, cost‑of‑living relief, tax cuts, housing, tax reform, productivity, spending restraint

Jim Chalmers:

Okay, good day everyone. Thanks for making time for us this afternoon as we release the Albanese government's fifth Budget. I'll make some opening remarks, then throw to Katy, and then obviously try and take maybe half a dozen questions or so, because I know that people are under pressure to file.

This Budget is ambitious in the face of adversity. I...