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The Federal Government says Opposition treasury spokesman Joe Hockey has been caught out wrongly claiming the mining tax is paying for the schoolkids bonus.

The Coalition wants to ditch the schoolkids bonus lump sum payment.

Mr Hockey told Insiders the bonus is paid for by a tax that would not exist under a Coalition government.

"It's funded by the mining tax and there is no mining tax," he said.

But Families Minister Jenny Macklin says Mr Hockey has been caught out because the mining revenue will not directly pay for the schoolkids bonus, instead it is funded out of general revenue.

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Sorry, this video cannot be played. You may need to install the latest version of Adobe Flash

Sorry, this video cannot be played. You may need to install the latest version of Adobe Flash

Prime Minister Julia Gillard has launched the Government's Asian Century white paper and pledged to increase the focus on students learning a priority language from the region.

The policy document sets out 25 objectives for Australia to take advantage of the Asian boom by 2025 which are divided into five key areas: the economy, education and skills, commerce, regional security and culture.

The Prime Minister described it as a road map for national success as Asia's unstoppable rise continues.

Ukraine will vote in parliamentary elections today, with the ruling party of president Viktor Yanukovich tipped to be returned to the post.

Ukrainians are voting after a period of bitter political division.

The country's best known opposition leader, former prime minister Yulia Tymoshenko, has been in jail for more than a year after a trial condemned by many Western countries.

Supporters say her party's performance has suffered without her on the campaign trail.

Despite the controversy, President Yanukovich's governing Party of Regions has been leading opinion polls.

Its closest rival appears to be the new party formed by heavyweight boxing champion Vitaly Klischko.

Sorry, this video cannot be played. You may need to install the latest version of Adobe Flash

The Federal Government says Opposition treasury spokesman Joe Hockey has been caught out wrongly claiming the mining tax is paying for the schoolkids bonus.

The Coalition wants to ditch the schoolkids bonus lump sum payment.

Mr Hockey told Insiders the bonus is paid for by a tax that would not exist under a Coalition government.

"It's funded by the mining tax and there is no mining tax," he said.

But Families Minister Jenny Macklin says Mr Hockey has been caught out because the mining revenue will not directly pay for the schoolkids bonus, instead it is funded out of general revenue.

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