He was "fundamentally not opposed'' to considering the bill and letting it go through at least to the select committee stage but it was a matter for his caucus to think about.
New Zealand was something of an outlier among countries around the world by not having such legislation "so essentially I think it's worth looking at''.
However, he said Mr English effectively torpedoed Ms Moroney's bill by saying National would veto it at the final stage after consulting him by phone while he was overseas.
Paid parental leave was important for mothers and families "but it's not going to be on the table until we get back into surplus''.
When the Government's books were back in surplus the policy would be considered, along with others such as resuming payments into the New Zealand Superannuation Fund.
Mr Key also responded to a recent report suggesting his Cabinet had decided to allow more than 49 per cent of shares in state owned assets earmarked for partial privatisation under the mixed ownership model as long as the Government maintained a majority of shares that had voting rights.
Last night he pledged "absolutely'' that the Government would retain at least 51 per cent of all shares each company.
"We're not going to do anything tricky there.''
