According to the latest “ease of doing business” index by the World Bank Group, Australia, Canada, New Zealand and the United Kingdom are some of the easiest countries in the world to promote business, being ranked within the top 14 countries.
|The UK ranks 6th in the WBG’s report|
The report states that “economies are ranked on their ease of doing business, from 1–189. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm“.
New Zealand came out top of the CANZUK nations, ranked 2nd, while the United Kingdom ranked 6th, Australia ranked 13th and Canada 14th.
The index is based on the study of laws and regulations, with the input and verification by more than 9,600 government officials, lawyers, business consultants, accountants and other professionals in 185 economies who routinely advise on, or administer, legal and regulatory requirements.
A nations ranking on the index is based on the average of 10 indices, including starting a business, getting credit, protecting investors, paying taxes and trading across borders.
The report indicates that each of the four CANZUK economies is highly developed in promoting business opportunities, and therefore, opportunities for economic growth. This is in addition to the CANZUK countries ranked 5th in the world for quality of life, and individually positioned within the top 10 “free economies” index for 2016.
A combined economy under free movement would also position a CANZUK union as one of the strongest economies in the world. By introducing free movement, this effectively creates the foundation of a single labour market, allowing our citizens to work and study freely while our businesses recruit the best international talent (all without the cost, risk and often lengthy delays currently experienced under present immigration controls).
With growing economies that promote innovation, growth and business opportunities, there is no reason why freedom of movement between the UK, Australia, New Zealand and Canada would not promote greater prosperity and investment for the future.
For more information regarding our research, please contact us at support@CFMO.org.