Pre-heat oven to 350°F.
In a large saucepan, cook the first 2 ingredients for 5 minutes; remove from heat and drain well; set aside to cool.
Place broccoli and cauliflower in a buttered 9 ×13-inch baking dish.
In a medium bowl, mix the margarine, cream cheese and soup; pour over broccoli and cauliflower; sprinkle with paprika.
Place in oven and bake, uncovered, for 35 mins.