Jenny Macklin (Jagajaga, Australian Labor Party, Shadow Minister for Families and Payments) Share this | Link to this | Hansard source

My question is to the Treasurer. What is the estimated annual rate of growth in spending for the Prime Minister's Paid Parental Leave scheme over the next 10 years?

Paul Fletcher (Bradfield, Liberal Party, Parliamentary Secretary to the Minister for Communications) Share this | Link to this | Hansard source

You can't just scrape by on charisma, Jenny!

Opposition members interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

Who was that? Who was that on the government side? I will give the call to the Treasurer.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

It was over there!

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

Whoever made that comment will desist. We will have silence, thank you!

Opposition members interjecting—

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I am a human shield here, Madam Speaker—or more of a sight screen, I think.

An opposition member: That's what Tony thinks about you!

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

We will have silence and we will hear from the Treasurer.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

I thank the honourable member for her question.

A government member: What was the question?

It is a good question: what was the question? But I will answer it at any rate. I will mention that the honourable member for Jagajaga knows that we have to increase workforce participation. If we could increase workforce participation, particularly by women—

Mark Dreyfus (Isaacs, Australian Labor Party, Shadow Attorney General) Share this | Link to this | Hansard source

The number!

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Isaacs will desist!

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

aged between the ages of 25 and 54, it would be terrific for the economy, because if we could get to workforce participation levels that are the equivalent of Canada, our economy would be between $25 billion and $40 billion larger—simply if we had the same number of women aged 25 to 54 in the workforce participating as that of Canada. In fact, New Zealand has a higher workforce participation rate. So we need to increase workforce participation. And the Paid Parental Leave scheme, together with further investment in child care, is going to help deliver the—

Ms Kate Ellis interjecting —

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Adelaide will desist!

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

What have you got against working women? I do not understand it. I do not understand what they have against working women and workforce participation.

Opposition members interjecting —

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

There will be silence! The Treasurer will resume his seat. The member for Jagajaga on a point of order.

Chris Bowen (McMahon, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

Help him out, Jenny, and give him a minute to find the answer.

Jenny Macklin (Jagajaga, Australian Labor Party, Shadow Minister for Families and Payments) Share this | Link to this | Hansard source

I rise on a point of order. Just to give him a little bit of time to find the answer—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

That is not a point of order.

Jenny Macklin (Jagajaga, Australian Labor Party, Shadow Minister for Families and Payments) Share this | Link to this | Hansard source

Relevance! Have a look in the Parliamentary Budget Office—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member will resume her seat. The Treasurer has the call.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

The reason why we are introducing a Paid Parental Leave scheme at replacement wages is because we believe it is going to help to increase the workforce participation levels of women aged between 25 and 54. Now, the important point is this: the Labor Party knows that we have an ageing population. We should celebrate the fact that Australians are living longer, but it is hugely important that those people of working age participate more in work. The way to do that is to have sensible reforms—

Mr Husic interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Chifley will desist.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

reforms such as Paid Parental Leave at replacement wages, such as that offered in the Public Service, such as that provided to members of the Labor Party and such as that advocated at worksites by the industrial arm of the Labor Party. It is hugely important that we have appropriate, affordable and accessible child care, and it is hugely important that we ensure that the government continues to invest in the productive infrastructure that builds the economy. Paid Parental Leave is part of the equation. It is not the total solution but it is part of the equation. Not only is the Paid Parental Leave scheme that we are introducing financially responsible—

Ms Owens interjecting—

Mrs Bronwyn Bishop (Speaker) Share this | Link to this | Hansard source

The member for Parramatta will desist.

Joe Hockey (North Sydney, Liberal Party, Treasurer) Share this | Link to this | Hansard source

because it is fully funded by the largest companies in Australia and not only is it improving the budget, but it is actually going to improve the productivity in the economy.