International Rankings of Economic Freedoms

[costargh]

Australia ranks 4th

The 2008 Index of Economic Freedom covers 162 countries across 10 specific freedoms such as trade freedom, business freedom, investment freedom, and property rights. View scores and rankings for any country, along with detailed data and background analysis.

http://www.heritage.org/Index/topten.cfm

Australia rates highly in virtually all areas but is most impressive in financial freedom, property rights, and freedom from corruption.

The top income tax rate is high, as is government spending, with both scoring below the world average. The top income tax is especially oppressive. Yet, due to its deep freedoms generally, Australia's economy is a global competitor and a regional leader.

           
http://www.heritage.org/research/features/index/country.cfm?id=Australia

[brendan]

yeah we shud be more like hong kong and singapore

[excal]

What's the problem with the government owned corporation? I don't see an issue with it provided that:

- it's given no legal monopoly or benefits (that is, private companies can compete)
- it's treated as is any other private company, except with the government as primary shareholder
- it is run and managed with a profit motive, as is with any private corporation.

In a way, it makes a neat profit for the government which can be returned to society in the form of lowered taxes.

[jamesdrv]

What's the problem with the government owned corporation? I don't see an issue with it provided that:

- it's given no legal monopoly or benefits (that is, private companies can compete)
- it's treated as is any other private company, except with the government as primary shareholder
- it is run and managed with a profit motive, as is with any private corporation.

In a way, it makes a neat profit for the government which can be returned to society in the form of lowered taxes.

That would be a corporatised GBE (like Australia Post). It can be prefereable for businesses that deal with sensitive information as they are forced to streamline operations while the government still retains ownership, but in other cases I don't see why privatisation shouldn't be pursued.

[excal]

I'm not discouraging privatisation at all - I'm merely stating that government owned corporations can still exist, but will have to compete on the same playing field. As I say, any profits are simply returned to society at large (the 'shareholders') as reduced tax.