Daniel James

I'm Daniel James and you're listening to 7am.

This week the Albanese government has been forced to confront a growing sense of instability with fresh warnings from the IMF about the global economy including the potential impact on Australia.

It places new pressure on Treasurer Jim Chalmers ahead of the budget as the government deals with a fuel supply scare that pulled the Prime Minister back to the country in the middle of an overseas mission to secure supplies for the nation.

As Labor tries to steady nerves, the opposition is pushing a hard line of migration, with Angus Taylor reaching for politics that feels both familiar and deliberately divisive.

So much so that it prompted a former Prime Minister to release a scathing statement.

Today, Press Gallery veteran Paul Bongiorno on the economic anxiety hanging over the government, the opposition's incendiary pitch on migration and how both sides are trying to define the moment.

It's Saturday, April 18.

Paul, this week we had a pretty dire warning from the IMF that a global recession is looming as Jim Chalmers met with economic ministers in DC.

How bad is it looking for Australia and for the government?

I can't think of a more sort of complex time in which to prepare a federal budget in recent memory, Paul.

How much pressure does the IMF warning and the war put on the Treasury ahead of next month's budget?

And how does it change what we can expect?

At the heart of all the pressure that's on the government at the moment is the fuel supply situation, which was exacerbated this week when one of only two Australian oil refineries was engulfed in a massive fire.

The PM flew home early from Malaysia to address the situation.

What do you make of the fact that he rushed back to stand in front of the oil refinery and talk about it?

Couldn't have Richard Miles just done that, seeing as he was a local member and the Deputy Prime Minister?

Do you think, Paul, that if the Prime Minister and the government is not seen as dealing with this situation appropriately, that Albanese recognises that this is a potential government wrecker?

Through all of this, Paul, the PM, of course, is trying to keep everyone calm, which was the aim of Albanese's highly ridiculed national address a couple of weeks ago.

You've got some inside intel on what was going on there.

What have you heard?