Chalmers says small business ‘paying the price’ for Middle East conflict as he unveils support measures

Australian treasurer says Iran war having ‘extreme impact on global economy’ as Albanese to address nation about fuel crisis

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Jim Chalmers has unveiled a suite of Covid-era support measures including tax deferrals for businesses struggling with soaring fuel prices, in the latest sign the government is preparing for a more severe economic downturn from the US-Israel war on Iran.

Addressing the media on Wednesday morning, the treasurer said “the war in the Middle East is having an extreme impact on the global economy, [and[ Australians and Australian small businesses are paying the price for that”.