AS IT HAPPENED: Prime Minister Anthony Albanese pledges $1b in interest-free loans for businesses hit by fuel costs; PM responds to national address criticism

That's all from us on the prime minister's National Press Club speech.

This address contained significantly more detail than last night's national address, with Albanese fleshing out his $1 billion loan plan for impacted businesses and offering some insight into the government's long-term plans if the war continues beyond the next few weeks.

Albanese also flagged that major gambling reform is coming, which will change how betting companies advertise on TV, radio and out-of-home.

For more reporting, visit Nine.com.au.

The PM concluded his National Press Club visit by reassuring Australians that the nation will "get through this."

Albanese tempered fears over any COVID-style mandates or lockdowns and said the government has a plan if the war rages on for weeks or months to come.

"We'll come through this. And my job is to provide appropriate reassurance which is what we're doing," he said.

Albanese said last night's national address was a device to "talk directly to the nation" rather than deliver any specific news.

He spoke at length about how the rise of social media has muddied the waters for the average Australian, particularly during major national news events.

"I took the opportunity to talk directly to the nation, that is more important than ever, because of the nature of the noise that is out there… the conspiracy theories out there," Albanese said.

The PM said the spike in fuel demand had necessitated his call for calm.

The subject of Australia's seemingly-fragile AUKUS pact with the US is under scrutiny.

Nine's national affairs editor Andrew Probyn asked the PM if Trump's sudden decision to go to war has "damaged" the security agreement in any way.

Albanese said AUKUS remains a key part of his correspondence with the Trump administration.

"My job as Australian prime minister is to develop relations with world leaders, and that is what I have done," the PM responded.

Albanese was asked about his thoughts on Donald Trump's national address, which aired just 30 minutes before his own speech.

However the PM said he missed a large chunk of it.

"I's a bit hard to comment, President Trump's statement which was, I think, done in part while was sitting up here," he said.

"But, my position I made very clear. We do want to see a de-escalation."

You can read all about Trump's speech here.

The PM has described the $1 billion in loans offered to manufacturing and fuel businesses as "a shock absorber, in a time of global shocks".

The interest-free loans are expected to be handed to only essential companies which have been directly impacted by fuel costs.

This includes truckies, freight companies, fuel and fertiliser producers.

"No government can promise to eliminate the pressures this global crisis will impose," he said.

"But we can be a buffer against the worst of it."

The PM has announced sweeping changes to how gambling advertises in Australia.

There will be a cap of three TV advertisements per hour for betting agencies between 6am and 8.30pm.

Gambling ads will also be banned on radio during school pick-up and drop-off hours.

More significantly, the government will also outlaw gambling advertising on jerseys, jumpers and in stadiums.

"And ban online Keno type products, the so-called 'pocket pokies', which represent a huge percentage of Australian gambling losses," the PM added.

"We will keep building on the success of BetStop, promoting and strengthening a program that is changing lives.

"We are getting the balance right."

The ever-present issue of the cost of living will remain at the top of the agenda for next month's federal budget.

Albanese said it will be his government's "most important" budget since he came into power in 2022.

"One priority remains helping people with the cost of living. And that is the balance that we will strike next month's budget," the PM said.

"It is our government's most important budget to date and ambitious.

"It has to be."

Moving on from the war in the Middle East and petrol prices, the PM has now flagged his plans for online gambling reform.

The federal government is expected to act on some of the 31 recommendations from the gambling harm inquiry, which landed on desks over 1000 days ago.

"We don't want our kids to grow up thinking that footy and gambling are inextricably linked," Albanese said.

The federal government's temporary reduction of the fuel excise, combined with state cuts, will now save drivers a total of 32 cents per litre at the pump.

Albanese said he hoped this would immediately impact prices.

"We want this added relief to start showing up at our petrol stations straight away," he said.