Britain becomes more free as coalition policies bite

Britain is more free due to the coalition's economic plans, but a new report shows that the EU may still be hampering British businesses

by The Commentator on 10 January 2013 15:11

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New research published by a leading American think-tank shows that Britain has become an economically freer country under the Conservative-led government. 

Despite concerns that the the coalition government's economic policies don't go far enough, Britain has, over the past twelve months, asserted itself as the 14th most free economy in the world.

The research by the Heritage Foundation uses various indicators to ascertain how free certain countries are, including the Rule of Law, Limited Government, Open Markets and Regulatory Efficiency and indicators. The study also incorporates important indicators such as trade freedom, property rights, business freedom and freedom from corruption.

The report states, "Ending the steady erosion of economic freedom during the past five years, Britain’s overall score took an upturn in the 2013 Index."

Britain is ranked as the fifth freest nation in the region, coming behind Switzerland, Denmark, Ireland and Estonia. In 2013, Britain has leaped over Luxembourg to take the spot at number five. 

The report notes that Britain is still falling on business freedom and trade freedom - something which many say cannot be helped due to Britain's membership of the increasingly dictatorial European Union.

Read more about United Kingdom Economy. See more from the 2013 Index.

The study shows that the Western world in general remains more free economically, with more transparency and freedom from corruption. There are however, two Asian economies at the very top of the list, with Hong Kong at number one and Singapore at number two. The United States ranks tenth, behind Canada, Chile, Mauritius and Denmark.

The most economically repressed nations in the world include North Korea, Argentina, Venezuela, Iran and Belarus.

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