KARL STEFANOVIC, HOST: Let's further break down Budget 2022 now with the Prime Minister, Anthony Albanese, who is in Canberra. Good morning to you, PM. Thanks for your time this morning. Appreciate it. Everything all right?

ANTHONY ALBANESE, PRIME MINISTER: Good morning, Karl. Everything's pretty good here.

STEFANOVIC: Bit happening. I was expecting a responsible left hook to our economic melon last night. But in the end, it kind of whacked us with a little wet lettuce. What happened?

LISA MILLAR, HOST: I have the Prime Minister, Anthony Albanese, with me here. Good morning. How are you feeling?

ANTHONY ALBANESE, PRIME MINISTER: Good morning, Lisa. A little bit less chilly than yourself.

MILLAR: I think we have a little bit of a breezeway here as well.

PETER STEFANOVIC, HOST: Joining us live now in Canberra is the Prime Minister, Anthony Albanese. Prime Minister, good morning to you. So, a safe Budget to pay for your election commitments. Are tax increases and spending cuts next?

NATALIE BARR, HOST: We're joined now by Prime Minister Anthony Albanese. Good morning to you, Prime Minister.

PRIME MINISTER: Good morning.

BARR: Now, when the previous government handed down its budget you said the cost of everything is going up but your pay isn't. Isn't that what is happening under you?

PATRICIA KARVELAS, HOST: Prime Minister, welcome to RN Breakfast.

ANTHONY ALBANESE, PRIME MINISTER: Good to be with you.

KARVELAS: Prime Minister, this is a Budget that's been framed around making difficult decisions in difficult times. But haven't you kicked some of those big decisions down the road?

Thank you very much. As if to underline, if you needed any reminder of the difference between the current Government and the past, the division we just voted on, if it was carried would have stopped the cheaper child care legislation. So way back at the Jobs and Skills Summit in September, the economist Danielle Wood made the observation that if untapped women's workforce participation were iron ore, we'd be falling over ourselves to dig it up. The message from the Budget handed down by the Treasurer last night was simply this: we’re digging.

Around 2,000 homeowners in flood-prone areas of the Northern Rivers of New South Wales will now be eligible to raise, repair, retrofit or have their home voluntarily bought back, as part of a new $800 million program.

The Commonwealth and New South Wales Government joint funding will support residential homeowners impacted in the February-March 2022 floods, in the seven Local Government Areas of Ballina, Byron, Clarence Valley, Kyogle, Lismore, Richmond Valley and Tweed.

Grants of up to $25,000 will be available from mid next week to support Tasmanian small businesses and primary producers impacted by the October flooding with clean-up and restoration activities.

The financial assistance is being jointly funded by the Australian and Tasmanian governments under the Disaster Recovery Funding Arrangements (DRFA).

The grant includes an up-front payment of $2,500 to provide immediate cash flow relief.

ANTHONY ALBANESE, PRIME MINISTER OF AUSTRALIA: Well, thanks very much, Prime Minister Kishida. Once again, welcome to Australia.

I begin by acknowledging the traditional owners of the land on which we meet. I pay my respects to be elders past, present and emerging.

I have also asked permission from the Prime Minister to make initial comments about the tragic events that are unfolding on the East Coast of Australia.

ANTHONY ALBANESE, PRIME MINISTER OF AUSTRALIA: Can I begin by acknowledging the traditional owners of the land on which we meet and pay my respects to their elders past, present and emerging.

Can I welcome very much Prime Minister Kishida and his delegation here today.

You are a great friend of Australia.

There are some state premiers around the country who will wonder why it is that we've met more often than I've met them in my five months as Prime Minister.

This is our fourth meeting. I, of course, have visited Japan twice.