Just how economically free is Canada? Not as much as it used to be, according to the Fraser Institute.
Canada has slipped from 5th to 11th place in the annual Economic Freedom of the World Report.
Fred McMahon, the institute’s research chair in economic freedom, says that’s because of higher taxes, increased government intervention, and growing regulation.
He says people should be worried since the result is less prosperity, slower economic growth, lower investment, and fewer jobs.
Hong Kong holds on to first place in the report followed by Singapore, New Zealand, Switzerland, and Ireland.
