Loading Replay Replay video Play video Play video Hockey was at the Liberal leader's side on Sunday when he announced the detail of what promises to be one of the world's more generous paid parental leave schemes - giving working mothers six months' leave on their actual wage, including superannuation entitlements. So, when Hockey was interviewed by 3AW's Neil Mitchell on Monday, he should have been prepared to answer the most obvious question: How did the Coalition propose to meet the $5.5 billion annual cost of the scheme? Tony Abbott is banking on his paid parental leave scheme despite disquiet about the policy from MPs, business and the states. Credit:Alex Ellinghausen Specifically, Mitchell asked how much of the cost would come from the levy to be imposed on the nation's 3000 biggest companies. ''Well, 100 per cent,'' Hockey said, before apologising and explaining it was, in fact, something less than that.

The difference, he insisted, would be met by a combination of four factors: the government would not have to pay as much in family tax benefits because women would retain their full salaries; women would pay income tax on their replacement salaries; the government would save money by scrapping Labor's less expensive scheme; and state governments would compensate the Commonwealth for meeting their parental leave liability. This level of clarity (or lack of it) prompted Mitchell to inquire how much would come from the levy, and how much from these other sources. ''Ah, well, it will be about (pause), I haven't got the exact numbers in front of me. I'm in a car on the central coast of New South Wales. But it will cover. The total costs are covered.'' Mitchell: ''But is it correct, as reported today, that only half of the initial cost will be covered by the levy?'' Hockey: ''No.''

Mitchell: ''So, what's the percentage, roughly?'' Hockey: ''Well, it would have to be at least 50 to 60 per cent, 60 or 70 per cent, but I'm not going to speculate because I haven't got the numbers in front of me in a car, but I'd just say to you, the costs are totally covered. You'll see the absolute details prior to the election.'' Loading Around the same time, in Sydney, Abbott was asked to put a figure on how much would be saved from state governments because their employees would not be able to ''double dip''. He declined, but suggested it was ''some hundreds of millions of dollars''. It shouldn't be good enough. But, with the polls pointing to a comfortable Coalition win, Hockey and Abbott clearly think it is.