Radio National Breakfast

Prime Minister Anthony Albanese will meet with state and territory leaders later today on fuel security as the conflict in the middle east intensifies.

The conflict has sent oil prices skyrocketing, with some regional areas across Australia experiencing supply issues - just as the crucial seeding season begins for grain growers.

• Guest: Andrew Henderson, Principal at AgSecure and Senior Fellow at Australian Strategic Policy Institute 
• Guest: Danny Allen, Farmer from Yorke Peninsula 
• Producer: Brooke Young, Tyler Hall and Eddy Diamond 

Today, the traditional centrepiece of pre-budget festivities - the first of the Treasurer's pre-budget speeches.

With the war in the middle east threatening to push inflation above 5%, Jim Chalmers argues the turmoil only strengthens the case for bold budget reforms.

• GUEST: Cherelle Murphy, Regional Chief Economist for EY

US President Donald Trump has repeatedly declared the war on Iran a success, but some of his most fervent supporters aren't buying it.

The resignation of Joe Kent - Director of the National Counterterrorism Center - has exposed a growing divide in the MAGA movement.

Mr Kent said he couldn't "in good conscience" support the war because Iran posed "no imminent threat" to the US.

• Guest: Andrew Day, senior editor The American Conservative
• Producer: Grace Stranger

The Israeli Defense Minister Israel Katz says the Iranian intelligence minister has been killed in an air strike in Tehran.

It comes a day after Israel confirmed the death of Iran's top security chief Ali Larijani, with now more than half of the Islamic Republic's most senior leadership reported dead.

So what's left of the regime — and does it mark a shift in the bombing campaign by Israel and the United States?

• GUEST: Daniel Levy, President of the US/Middle East Project and former adviser to the Israeli government
• PRODUCER: Eddy Diamond

Iran is threatening to hit oil facilities across the Gulf.

It comes after Israel hit Iran's largest gas field, which makes up about 40 per cent of its known reserves.

Meanwhile Iran's de facto closure of the Strait of the Hormuz continues, strangling this major trade corridor.

So what does this mean for the global economy?

• GUEST: Betsey Stevenson, Professor of public policy and economics at the University of Michigan and a former member of US President Barack Obama's Council of Economic Advisers

US President Donald Trump has again criticised allies for refusing to send naval escorts to the Strait of Hormuz, singling out Australia.

In a post on Truth Social, Mr Trump says, "we no longer "need," or desire, the NATO Countries' assistance — WE NEVER DID! Likewise, Japan, Australia, or South Korea."

We get the response from the federal government and opposition, and hear from an ex-Prime Minister who used to deal with Mr Trump - Malcolm Turnbull shares his response. 

And the Greens are “pleased” that the government is considering options for tax reform.

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

Sydney shock jock Kyle Sandilands has had his contract with KIIS FM terminated.

Sandilands had been suspended after an on-air row with co-host Jackie "O" Henderson on February 13. 

Last night Sandilands told veteran media reporter Rob McNight on his McKnight Tonight vodcast that he still had a contract and would be willing to return to work today. 

Stonemasonry has been a specialist trade for centuries - it's also a trade which has been male-dominant and increasingly out of vogue.

But Bianca Taylor has been trying to change that.

In 2024, she became South Australia's first qualified female stonemason.

A couple of years out from finishing her apprenticeship, she's already started her own business - and wants to encourage other women into the sector.

• Guest: Bianca Taylor, founder Taylor Made Heritage Restoration

With their 2-1 win over China in the semi-final last night, the Matildas have a chance to win their first trophy since the 2010 Asian Cup, facing Japan or South Korea in Saturday's decider in Sydney.

• GUEST: Moya Dodd, lawyer, sports administrator and a former vice-captain of the Matildas

A Senate committee has found capital gains tax discounts disproportionately benefit wealthier Australians — and skew home ownership towards investors.

But in a dissenting statement, Liberal senators Andrew Bragg and Dave Sharma said reducing the discount won't fix the housing crisis — and could make it worse.

• GUEST: Nick McKim, Tasmanian Greens Senator and Chair of Senate Select Inquiry into the Operation of the Capital Gains Tax Discount