Radio National Breakfast

The federal treasurer Jim Chalmers has moved to ease some of the flow-on economic effects of the Middle East conflict, announcing a suite of measures for small business yesterday.

The Tax Office will now limit compliance action and pause some debt collection - for businesses unable to meet their tax obligations due to fuel supply issues.

• GUEST: Skye Cappuccio, CEO of the Council of Small Business Organisations Australia

There is growing speculation that the US could exit the war with Iran, with the Strait of Hormuz still remaining effectively closed. 

We'll unpack the comments fueling the speculation, and hear how Europe and how both sides of Australian politics are responding.

Then, we'll turn to domestic affairs - and hear about the latest debates in parliament and tension within the Liberal party. 

Recap the morning's news, politics and global affairs with the Breakfast Wrap.

It's one of the only sports that waits for the conditions to be just right to compete and this week the surfs up on Bells Beach so the iconic annual event can begin.

The world's best surfers will be battling for the Bell Trophy - marking the start of the 50th World Surfing League Championship Tour. 

• GUEST: Sean Doherty, Editor of Surfing World and event commentator
• PRODUCER: Eddy Diamond

The word carer might evoke a professional at a home, or an elderly person taking care of a spouse.

But thousands of carers across the country are much younger than you think, even as young as four years old.

Madeleine Buchner was a child when she was thrust into a caring role: first for her baby brother, and later for her mother and grandmother.

By the age of 16, she founded Little Dreamers, an organisation to help support young carers.

Guest: Madeleine Buchner, founder and CEO of Little Dreamers

The US president Donald Trump has attacked traditional allies telling them via social media "you'll have to start learning how to fight for yourself" and "The USA won't be there to help you any more just like you weren't there for us." 

It comes as Iran maintains its chokehold on the Strait of Hormuz affecting a fifth of the world's oil trade.

Guest: Klas Molin, Swedish Ambassador to AustraliaProducers: Brooke Young, Grace Stranger

Pressure is mounting on the United States and Israel to find an off-ramp for their war on Iran as the conflict in the Middle East continues.

Iran has continued its attacks on Israel and its Persian Gulf neighbours with airstrikes also pounding Tehran, as the U.S. President Donald Trump makes contradictory statements about the state of the war.

• GUEST: Dr Nimrod Novik, Distinguished Fellow at the Israel Policy Forum and former senior policy advisor to Israeli prime minister Shimon Peres, special ambassador of the state and advisor to the Israeli National Security Council 
• PRODUCER: Eddy Diamond 

The Federal Opposition says its concerned about the trajectory of the Iran war, especially about the prospect of the US ending its involvement without reopening the Strait of Hormuz. The Shadow Treasurer Tim Wilson says there are significant consequences for the global economy and stability if the US walks away without achieving that objective. 

• GUEST: Tim Wilson, Shadow Treasurer 
• PRODUCER: Isadora Bogle 

US President Donald Trump lashed out at US allies for not helping to reopen the Strait of Hormuz.

It comes as concerns grow that the Trump administration could attempt to end the war without reopening the Strait.

Meanwhile, the federal government is set to introduce a package of bills to parliament today to strengthen aviation consumer protection.

• GUEST: Catherine King, Minister for Infrastructure, Transport, Regional Development and Local Government
• PRODUCER: Isadora Bogle

With the war in the middle east showing no end in sight, you've been asking what the conflict means for the economy and your hip pocket.

Two leading economists answer your questions. 

• Guest: Sally Auld, Chief Economist at NAB & Saul Eslake, independent economist
• Producer: Eddy Diamond

There is growing speculation that the US could exit the war with Iran, with the Strait of Hormuz still remaining effectively closed. 

The concern is being fuelled by comments overnight from the Defence Secretary Pete Hegseth, and his doubling down of the latest social media outburst from his boss President Donald Trump.