16 Dec 2004

Budget raising the minimum wage and company tax approved in New Caledonia

7:40 pm on 16 December 2004

New Caledonia's Congress has voted for a 1.44 billion US dollar preliminary budget for 2005.

The president of the Congress, Harold Martin, says the vote had "strong political implications".

The budget includes provisions for increasing the minimum wage up to 1,200 dollars a month.

Also, a tax increase for companies making profits more than 2.25 million dollars a year will enable the government to generate funds for family allowances.