How would Labour pay for paid parental leave?

In his “big” speech, David Shearer said:

Any government I lead is going to be thrifty.

New Zealanders can trust Labour to manage the books.

So the question has to be asked. How would Labour find $150 million a year to fund their bill to increase paid parental leave? Will they just borrow it?

It will be very tough to get back into surplus, as National is aiming to do. But we simply can not afford to keep running deficits, as the interest on the extra debt actually makes less money available for health, education and yes even paid parental leave. We need to live within our means.

So how does an extra $150 million a year fit into Shearer’s pledge to be thrifty? Will he borrow to pay for it, or hike taxes to pay for it?