Canada, 7 ième position pour la liberté économique

Le Canada est en septième position dans le monde pour la liberté économique, (soyez-assuré que ce n’est pas à cause du Québec !).

Nos points forts sont une excellente efficacité pour créer une entreprise (fardeau réglementaire léger), droits la propriété très bien protégés et très peu de corruption.

Points faibles; Les dépenses de l’États sont trop élevées, les oligopoles des banques sont trop restrictives et on devrait avoir une plus grande liberté sur la main d’œuvre. Top ten of 2010 Economic freesom

Canada Rank 



Canada



Canada’s economic freedom score is 80.4, making its economy the 7th freest in the 2010 Index. Its overall score is almost unchanged from last year. Canada is ranked 1st out of three countries in the North America region.

Scoring high in many of the 10 economic freedoms, Canada performs particularly well in business freedom, financial freedom, property rights, and freedom from corruption. Straightforward regulations facilitate entrepreneurial activity. Overall, regulation is thorough but essentially transparent. A strong rule of law ensures property rights and equitable application of the commercial code. A high level of economic freedom, coupled with a sound and prudent banking sector, has enabled Canada to emerge from the global downturn relatively unscathed.

Canada’s economic freedom trails the world average only in government spending. Elaborate social and welfare state programs swell overall government expenditures. Government spending has also increased slightly due to implementation of a significant stimulus package. However, good fiscal management and federal budget surpluses have enabled the economy to undertake stimulus measures without undermining fiscal soundness and long-term economic competitiveness.

Background

Canada has a strong and stable democratic political system that has proven itself capable of handling occasional ethnic tensions. It is also one of the world’s leading free-market economies and a major exporter of oil, minerals, automobiles, manufactured goods, and forest products. Over 75 percent of its exports are to the United States. Despite one of the most restrictive foreign ownership policies in telecommunications, publishing, broadcasting, aviation, mining, and fishing among all Organisation for Economic Co-operation and
 
Development countries, macroeconomic fundamentals remain strong. In May and June 2008, Canada strengthened its commitment to become a more active economic partner in the Americas by concluding free trade negotiations with Colombia and signing a similar agreement with Peru.


Business Freedom: 96.5

The overall freedom to establish and run a business is strongly protected under Canada’s regulatory environment. Starting a business takes an average of five days, compared to the world average of 35 days. Obtaining a business license requires less than the world average of 18 procedures and 218 days.


Trade Freedom: 88.1

Canada’s weighted average tariff rate was 1 percent in 2008. Federal and provincial non-tariff barriers, restrictions on imports of domestic “supply managed” agricultural products, restricted access to certain service industries, import taxes, export-support programs for industry and agriculture producers, cumbersome standards and import licensing, and state trading boards for some agriculture products add to the cost of trade. Ten points were deducted from Canada’s trade freedom score to account for non-tariff barriers.


Fiscal Freedom: 76.7

Canada has moderate tax rates. The top federal income tax rate is 29 percent, and provincial rates range from 10 percent to 24 percent. The general corporate tax rate is 19.5 percent. Other taxes include a value-added tax (VAT) and a property tax. In the most recent year, overall tax revenue as a percentage of GDP was 33.3 percent.


Government Spending: 54.1

Total government expenditures, including consumption and transfer payments, are relatively high. In the most recent year, government spending equaled 39.1 percent of GDP. Privatization is widespread, and the government encourages competition even in sectors formerly operated by government or privately owned monopolies. With the lowest debt-to-GDP ratio in the G-7, Canada was well positioned to finance a significant stimulus plan in the wake of the global downturn.


Monetary Freedom: 75.4

Inflation has been low, averaging 2.3 percent between 2006 and 2008. The market determines most prices, but the government regulates the prices of some utilities, subsidizes industry and agriculture producers, controls prices for some agricultural products, and influences prices through state-owned enterprises. The government controls virtually all prices for health care services through its mandatory “single-payer” nationalized program. Fifteen points were deducted from Canada’s monetary freedom score to account for measures that distort domestic prices.


Investment Freedom: 75.0

Canada treats foreign and domestic capital equally in almost all situations. A federal agency must approve all direct foreign investment. Canada remains one of the few OECD countries to require such approval (which is usually granted). Restricted sectors include media, telecommunications, fishing, mining, and aviation. There are no restrictions on current transfers, repatriation of profits, or access to foreign exchange. Prince Edward Island, Saskatchewan, and Nova Scotia all limit real estate sales to out-of-province parties.


Financial Freedom: 80.0

Canada’s financial system provides many options for businesses and competitive services for investors. Credit is allocated on market terms. The “big six” domestic banks account for around 90 percent of total assets; foreign banks, around 8 percent. It has become easier for foreign banks to enter the market, and their regulatory burden has been reduced. Revisions of the Bank Act in 2007 focused on streamlining regulation and enhancing consumer protection. Mergers between large banks are restricted, and large banks may not buy large insurance companies. The largest insurance companies conduct more than half of their business overseas. Securities markets are well developed, but the regulatory system is fragmented. The Montreal and Toronto exchanges merged in May 2008 while maintaining areas of specialization. Banking has weathered the recent financial crisis with no need for an injection of state funds.


Property Rights: 90.0

Private property is well protected. The judiciary is independent, and judges and civil servants are generally honest. Foreign investors have full access to the legal system, and private property rights are limited only by the rights of governments to establish monopolies and expropriate for public purposes. Canada has yet to ratify the World Intellectual Property Organization’s Internet Treaties, which it signed in 1997. Enforcement against counterfeiting and piracy is reportedly cumbersome and ineffective.


Freedom From Corruption: 87.0

Corruption is perceived as minimal. Canada ranks 9th out of 179 countries in Transparency International’s Corruption Perceptions Index for 2008. Bribery and other forms of corruption are rare. Canada has signed the U.N. Convention Against Corruption.


Labor Freedom: 81.5

Flexible labor regulations enhance employment and productivity growth. The non-salary cost of employing a worker is moderate, and dismissing a redundant employee is relatively inexpensive. Rules on work hours are flexible.