UK slips down Index of Economic Freedom rankings

[-:Undertaker:-]

http://www.thisismoney.co.uk/news/ar...=moretopstorie

UK slips down economic freedom rankings

Britain has fallen out of the top 15 most economically free countries in the world, according to a damning report today.

The UK has slipped five places to 16th in the Index of Economic Freedom published by The Wall Street Journal and the Institute of Economic Affairs.

Hong Kong was top and Singapore second followed by Australia, New Zealand and Switzerland.

Britain ranked a shocking 169th out of 179 for 'fiscal freedom' - the tax burden - behind nations such as Zimbabwe, Eritrea and the Congo.

It came 156th in 'government spending' as a result of the mammoth debts racked up by Labour.

Wow and what a suprise, the countries with less regulation and less taxation are in better shape as per usual - need I say much more? now with the Tories in power you might think 'mhmm well they'll surely free up the economy and get things back on track again like they did in the 1980s, won't they?' - they can no longer do that anymore. This coalition government has already handed over supervision of the City of London (possibly our biggest asset) to the European Union which is notorious for its ridiculous rules, ranging from regulating wonky parsnips to the standardisation of tractor seats (i'm not making that up, yes they actually regulate all of that would you believe!).

On a final note, well done to the Labour Party for beating Zimbabwe to the bottom of the rankings.

Thoughts?

[GommeInc]

It's not surprising Switzerland are up near the top. My thoughts? Pull out of the EU, it's dragging countries into a debt laden hole where no-one wants to be but for some bizarre reason we and other EU countries aren't doing much to pull out. Labour were a terrible party, and the Conservatives (Lib Dems don't count, they're a party that change colour depending on who's whipping them) are just as bad.

[Jacob]

It's not surprising Switzerland are up near the top. My thoughts? Pull out of the EU, it's dragging countries into a debt laden hole where no-one wants to be but for some bizarre reason we and other EU countries aren't doing much to pull out. Labour were a terrible party, and the Conservatives (Lib Dems don't count, they're a party that change colour depending on who's whipping them) are just as bad.

Yeah I kind of agree with you completely. We're getting pulled down and there's not a lot happening to resolve the situation spontaneously. Hong Kong are awesome!

[Wig44.]

This makes me want to leave the UK even more. It's a shame but I'm sick of the government, the EU and even the public (who are stupid enough to let this all happen - so about 99% of it).

This is hardly surprising anyway.

[lol]

YEAH GO AMERICA!! number 9 baby

[alexxxxx]

6 EFTA and 5 EU countries are ahead of us. it must be the EU holding us back.

[-:Undertaker:-]

6 EFTA and 5 EU countries are ahead of us. it must be the EU holding us back.

I'm not sure whether yoiu are aware of it or not, but Europe (the EU) is declining steeply down the ranks and growth is dire.

Why settle for the sinking ship of the EU? why not attempt to match Hong Kong and Singapore who have no natural resources yet are beacons of wealth with a good future ahead - we have natural resources also, so we can do much better than them just as Australia and New Zealand have.

What chance does Europe stand when it has a group on unelected crackpots ruling it with no business experience at all? none is the answer.

Here's some facts on the Eurozone and its failed economic 'market';

[alexxxxx]

I'm not sure whether yoiu are aware of it or not, but Europe (the EU) is declining steeply down the ranks and growth is dire.

Why settle for the sinking ship of the EU? why not attempt to match Hong Kong and Singapore who have no natural resources yet are beacons of wealth with a good future ahead - we have natural resources also, so we can do much better than them just as Australia and New Zealand have.

What chance does Europe stand when it has a group on unelected crackpots ruling it with no business experience at all? none is the answer.

Here's some facts on the Eurozone and its failed economic 'market';

Singapore and Hong Kong have very poor democracy and are incredibly small in comparison to the UK. Both of them added together are both just over the size of London. You'd love Singapore too! Everyone lives in social housing (way more than 90%) and satellite dishes are banned - they both have very poor standards on freedom of the press AND in Hong Kong businesses have seats in government. Both countries are very dense. The gap between rich and poverty in HK is astounding. Sounds very free eh?

Plus that is some non-sensical rubbish he's just spouted there. Youth Unemployment is and has been a problem in France and other countries for years, yet it is a national problem - nothing to do with the Eurozone. In fact i don't see how that is related. The USA has got a higher GDP per capita, yes, but also it has a greater income disparity than the EU. The far east is growing fast - typical for any area that is having a revolution in growth. China isn't even in the top 80 for GDP per capita. What powerhouses they are.

[-:Undertaker:-]

Singapore and Hong Kong have very poor democracy and are incredibly small in comparison to the UK. Both of them added together are both just over the size of London. You'd love Singapore too! Everyone lives in social housing (way more than 90%) and satellite dishes are banned - they both have very poor standards on freedom of the press AND in Hong Kong businesses have seats in government. Both countries are very dense. The gap between rich and poverty in HK is astounding. Sounds very free eh?

Err sorry but thats not at all what i'm talking about - not once in this thread have I brought up freedoms or liberty apart from economic freedoms which Hong Kong and co. excel at compared to the western world. I am talking about their economic success compared to a failing Europe which is not being helped at all by a failed currency with socialist stlye economies which are failing under their massive burden of debt due to large public sectors which are unaffordable. Oh, and thats not to mention the masses of regulation that come from the political class in Brussels.

As for freedom which is a seperate issue, I don't think we're all that free over here do you? ID cards being planned, the erosion of habeas corpus which now means we can hold people without trial longer than do they in Zimbabwe - not to mention the amount of CCTV, councils using terrorism laws (all for our own safety, yeah right) to snoop on people.

The only difference is that we are better at hiding it.

Plus that is some non-sensical rubbish he's just spouted there. Youth Unemployment is and has been a problem in France and other countries for years, yet it is a national problem - nothing to do with the Eurozone. In fact i don't see how that is related. The USA has got a higher GDP per capita, yes, but also it has a greater income disparity than the EU. The far east is growing fast - typical for any area that is having a revolution in growth. China isn't even in the top 80 for GDP per capita. What powerhouses they are.

The point he's making is that the Euro has failed from its intended aim which was to bring prosperity to Europe, all nonsense of course and i'm in no doubt that if the Euro was being introduced now you'd be one of the ones who would be telling me how having one currency would solve most of Europe's problems such as unemployment - well look now, it hasn't - it is a dismal failure which has only made things worse.

As for growth, high growth is just as achieveable in advanced economies - there is no reason for us not to grow at a fast rate as Hong Kong does. I think you'll see a shift in per capita very soon, look at the industrial revolution in the way wealth sprung up in the west and the east simpley declined. History hasn't ended, its just harder to see put in the modern world but it will still follow the same pattern more or less.

[alexxxxx]

Err sorry but thats not at all what i'm talking about - not once in this thread have I brought up freedoms or liberty apart from economic freedoms which Hong Kong and co. excel at compared to the western world. I am talking about their economic success compared to a failing Europe which is not being helped at all by a failed currency with socialist stlye economies which are failing under their massive burden of debt due to large public sectors which are unaffordable. Oh, and thats not to mention the masses of regulation that come from the political class in Brussels.

As for freedom which is a seperate issue, I don't think we're all that free over here do you? ID cards being planned, the erosion of habeas corpus which now means we can hold people without trial longer than do they in Zimbabwe - not to mention the amount of CCTV, councils using terrorism laws (all for our own safety, yeah right) to snoop on people.

The only difference is that we are better at hiding it.

http://en.wikipedia.org/wiki/List_of...ncome_equality

if you take another measure here, you will see that HK and SG are much further down the list in income equality, ie it shows that certain sectors (like banking and finance in these areas) means that there is an elite in both city states in comparison. Do you think economic growth and prosperity should be shared among only a few people. We don't have 'socialist-style' economies. Don't be stupid. ID cards have been scrapped due to public pressure like how a democracy works, much of the CCTV is owned privately and if im not mistaken there are measures coming in to prevent councils from doing that.

The point he's making is that the Euro has failed from its intended aim which was to bring prosperity to Europe, all nonsense of course and i'm in no doubt that if the Euro was being introduced now you'd be one of the ones who would be telling me how having one currency would solve most of Europe's problems such as unemployment - well look now, it hasn't - it is a dismal failure which has only made things worse.

Well sustained economic growth in all eurozone countries (and high growth in certain countries like Luxembourg) is your answer! Im unsure how you can blame the Euro for the current crisis.

As for growth, high growth is just as achieveable in advanced economies - there is no reason for us not to grow at a fast rate as Hong Kong does. I think you'll see a shift in per capita very soon, look at the industrial revolution in the way wealth sprung up in the west and the east simpley declined. History hasn't ended, its just harder to see put in the modern world but it will still follow the same pattern more or less.

Hong Kong does not grow as fast as China or less developed regions, granted, it grows faster than the UK but its ties with those countries (and location) allows for its relatively high growth with them.