Albanese to address the nation on the Middle East war and fuel crisis

Prime Minister Anthony Albanese will address the nation at 7pm Wednesday night on the Middle East war, the fuel crisis and the government’s response to it, and what Australians can do in response.

In his pre-Easter address, which will be carried by all television channels, Albanese’s message to the public will be that it should be business-as-usual over the holiday period.

Prime ministerial addresses-to-the-nation are rare but have been used during COVID and the Global Financial Crisis.

United States President Donald Trump will address the American people on Thursday Australian time.

In a fresh government announcement in response to the fuel crisis, small businesses hit by fuel issues will get more flexibility with their tax obligations.

Treasurer Jim Chalmers said businesses unable to meet their tax obligations because of fuel supply problems will be able to receive temporary relief from the Australian Taxation Office.

This will include more generous payment plans, remission of interest and penalties, and support in varying PAYG instalments where taxable income has turned down.

The tax office will also limit some compliance action for the worst affected industries. Some debt collection may also be paused.

To help small business access credit more easily and faster, the Small Business Responsible Lending Obligation exemption will be extended for another ten years.

This obligation requires lenders to make rigorous checks of borrowers’ financial situation to ensure that the loan is not unsuitable. During COVID small businesses were accorded an exemption. This was due to run out in October.

The government said the extension would “ensure small businesses aren’t slugged with additional regulatory burdens and delays when accessing loans”.

Chalmers announced the changes at a news conference with representatives of big business, small business and the banks.

Meanwhile the federal government is still waiting for the states to sort out arrangements relating to the extra GST revenue they will receive from higher fuel prices.

They agreed at national cabinet on Monday to provide some GST relief but are still working on the detail.

Chalmers told his news conference: “I’m not going to take shots at them. I’m not going to be part of a kind of unseemly brawl about this.”

“But we don’t want to see this drag out for ever. We don’t want to see the states and territories at war over this. We want to see the relief flow to motorists.”