Economic Freedom of the World
economic-freedom-of-the-world-2016
economic-freedom-of-the-world-2016
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United Kingdom<br />
Chapter 2: Country Data Tables • 181<br />
1980 1990 2000 2005 2010 2013 2014<br />
Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank) Rating (Rank)<br />
Summary Ratings (Rank) 6.72 (14) 8.18 (5) 8.50 (6) 8.26 (5) 7.79 (10) 7.88 (10) 7.93 (10)<br />
Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data) Rating (Data)<br />
Area 1. Size <strong>of</strong> Government 3.94 5.65 6.13 6.29 5.18 6.15 6.19<br />
A. Government consumption 3.93 (26.62) 4.52 (24.63) 5.23 (22.22) 4.32 (25.31) 3.98 (26.46) 4.76 (23.80) 4.91 (23.31)<br />
B. Transfers and subsidies 5.83 (15.80) 6.08 (14.90) 6.31 (14.05) 6.33 (13.97) 5.75 (16.10) 5.84 (15.76) 5.84 (15.76)<br />
C. Government enterprises and investment 6.00 (29.10) 8.00 (15.30) 10.00 (9.34) 10.00 (7.21) 8.00 (18.60) 10.00 (14.06) 10.00 (14.06)<br />
D. Top marginal tax rate 0.00 4.00 5.00 4.50 3.00 4.00 4.00<br />
(i) Top marginal income tax rate 0.00 (83) 5.00 (40) 6.00 (40) 5.00 (41) 5.00 (50) 6.00 (45) 6.00 (45)<br />
(ii) Top marginal income and payroll tax rate 3.00 (48) 4.00 (48) 4.00 (48) 1.00 (66) 2.00 (64) 2.00 (64)<br />
Area 2. Legal System and Property Rights 7.05 7.73 9.29 8.27 7.97 7.81 7.83<br />
A. Judicial independence 9.02 8.74 8.66 8.67 8.68<br />
B. Impartial courts 9.02 8.38 6.79 7.36 7.45<br />
C. Protection <strong>of</strong> property rights 8.44 9.09 8.34 8.70 8.81<br />
D. Military interference in rule <strong>of</strong> law and politics 10.00 10.00 10.00 10.00 10.00<br />
E. Integrity <strong>of</strong> <strong>the</strong> legal system 10.00 9.17 9.17 8.33 8.33<br />
F. Legal enforcement <strong>of</strong> contracts 6.00 5.95 4.75 4.50<br />
G. Regulatory costs <strong>of</strong> <strong>the</strong> sale <strong>of</strong> real property 8.26 7.91 8.08 8.08<br />
H. Reliability <strong>of</strong> police 7.51 7.77 7.68 7.68<br />
I. Business costs <strong>of</strong> crime 7.25 7.15 6.74 6.92<br />
Area 3. Sound Money 5.96 9.48 9.31 9.45 9.58 9.72 9.75<br />
A. Money growth 8.57 (7.17) 9.75 (1.27) 8.14 (9.31) 8.54 (7.30) 9.26 (3.70) 9.66 (-1.71) 9.51 (-2.44)<br />
B. Standard deviation <strong>of</strong> inflation 9.04 (2.40) 9.45 (1.38) 9.69 (0.77) 9.82 (0.44) 9.73 (0.67) 9.75 (0.62) 9.79 (0.53)<br />
C. Inflation: most recent year 6.23 (18.84) 8.72 (6.42) 9.41 (2.93) 9.43 (2.83) 9.34 (3.29) 9.49 (2.55) 9.71 (1.46)<br />
D. <strong>Freedom</strong> to own foreign currency bank accounts 0.00 10.00 10.00 10.00 10.00 10.00 10.00<br />
Area 4. <strong>Freedom</strong> to Trade Internationally 9.63 9.47 9.40 8.79 8.78 8.09 8.28<br />
A. Tariffs 8.89 8.41 9.18 8.39 8.34 8.25 8.43<br />
(i) Revenue from trade taxes (% <strong>of</strong> trade sector) 9.53 (0.70) 9.60 (0.60) 9.78 (0.33) 9.59 (0.62) 9.63 (0.55) 9.64 (0.54) 9.81 (0.28)<br />
(ii) Mean tariff rate 8.24 (8.80) 8.52 (7.40) 9.78 (0.33) 9.46 (2.70) 8.98 (5.10) 8.90 (5.50) 8.94 (5.30)<br />
(iii) Standard deviation <strong>of</strong> tariff rates 7.12 (7.20) 8.24 (4.40) 6.13 (9.67) 6.41 (8.98) 6.22 (9.46) 6.54 (8.64)<br />
B. Regulatory trade barriers 9.32 8.07 8.36 7.60 8.20<br />
(i) Non-tariff trade barriers 8.97 7.23 7.51 6.08 7.15<br />
(ii) Compliance cost <strong>of</strong> importing and exporting 9.67 8.91 9.20 9.12 9.24<br />
C. Black-market exchange rates 10.00 10.00 10.00 10.00 10.00 10.00 10.00<br />
D. Controls <strong>of</strong> <strong>the</strong> movement <strong>of</strong> capital and people 10.00 10.00 9.10 8.68 8.43 6.51 6.48<br />
(i) Foreign ownership/investment restrictions 9.75 8.59 7.99 8.03 7.96<br />
(ii) Capital controls 10.00 10.00 8.46 8.46 8.33 4.62 4.62<br />
(iii) <strong>Freedom</strong> <strong>of</strong> foreigners to visit 9.00 8.96 6.88 6.88<br />
Area 5. Regulation 7.00 8.59 8.36 8.50 7.45 7.62 7.59<br />
A. Credit Market regulations 7.33 9.93 10.00 9.43 7.33 7.58 7.77<br />
(i) Ownership <strong>of</strong> banks 10.00 10.00 10.00 10.00 10.00 10.00 10.00<br />
(ii) Private sector credit 8.00 9.79 10.00 8.30 3.00 4.75 5.32<br />
(iii) Interest rate controls (negative real interest rates) 4.00 10.00 10.00 10.00 9.00 8.00 8.00<br />
B. Labor Market regulations 6.67 7.24 6.92 8.47 8.25 8.21 8.08<br />
(i) Hiring regulations and minimum wage 4.61 8.90 8.90 8.90 8.90<br />
(ii) Hiring and firing regulations 7.39 4.90 5.83 5.67 5.76 5.22<br />
(iii) Centralized collective bargaining 5.18 6.21 8.60 8.10 7.87 8.07 7.83<br />
(iv) Hours regulations 4.84 5.37 6.51 10.00 8.00 8.00 8.00<br />
(v) Mandated cost <strong>of</strong> worker dismissal 7.96 9.08 8.53 8.53<br />
(vi) Conscription 10.00 10.00 10.00 10.00 10.00 10.00 10.00<br />
C. Business regulations 8.17 7.60 6.77 7.05 6.93<br />
(i) Administrative requirements 7.93 3.80 3.50 4.76 4.87<br />
(ii) Bureaucracy costs 8.03 5.90 1.90 1.90 1.90<br />
(iii) Starting a business 7.73 9.58 9.58 9.80 9.85<br />
(iv) Extra payments/bribes/favoritism 8.97 9.04 7.70 7.88 7.00<br />
(v) Licensing restrictions 8.45 9.19 9.20 9.21<br />
(vi) Cost <strong>of</strong> tax compliance 8.82 8.77 8.77 8.77<br />
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