New French government ups minimum wage 10%

France's new Socialist government decreed an immediate 10 percent raise in the minimum wage and increases in other social benefits. The measures, which included 25 percent raises in family allowances, were announced after the second Cabinet meeting of the administration of President Francois Mitterrand.

A presidential spokesman said the government plan to spread the country's wealth more evenly implied new taxation on private fortunes, on luxury goods, and on "exceptional profits" by banks, other financial institutions, and oil c ompanies.