How to transform a nation in ten steps

Brought forward. I was challenged last night to advocate flat taxes. Here’s one of my previous posts which does so. Another is here (you will have to forgive the oversize graphs).

The Georgian recipe for “an amazing transformation”:

  • Low and flat taxes
  • Legislative commitment to reducing the government’s fiscal footprint (IE spend less!)
  • Deregulation and cutting red tape
  • And thereby suppressing corruption
  • Unilateral free trade: no import tariffs or barriers of any kind
  • Very flexible labour legislation
  • No sector or industrial policy of any kind
  • No subsidies, no preferences, no exemptions – no market-distorting practices
  • No currency and capital controls
  • Sound monetary policy with hawkish anti-inflationary stance

See also: Tory conference: Georgia’s Prime Minister makes surprise appearance.

Hat tip to Dr Tim Evans

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