Ease in Doing and Starting a Business: US and UK vs. Europe, Rest of World

A couple of spreadsheets can easily explain why QE and negative interest rates cannot possibly fix what ails the EU. The same spreadsheets show why the UK was smart to Brexit.

by Mish

Ease in Doing Business – UK vs. Rest of Europe (Not Just EU)

Ease in Doing Business – Global Top 20

Ease in Starting a Business – Global Top 20

I created the tables from a subset of “Ease of Doing Business Rankings”.

Congratulations to New Zealand!

Congratulations are due New Zealand for ranking number 1 globally in starting a business and #2 globally for ease in doing business.

Corporate Tax Rates

Widely varying corporate tax rates are another piece of the EU trouble puzzle.

Let the EU Self Destruct
France and Germany want financial transaction taxes. Let em. It will mean more business for the UK, not less.
France insists on agricultural tariffs. Should the UK care now?
The EU does not like Ireland’s low corporate tax rate so much so that the EU is Considering a Minimum Corporate Tax.
Should the EU insist on such silliness, it will drive business to the UK, not away from London.
Trade War the Right Way
The UK should preemptively stick it to the EU by slashing its corporate tax rate to 10%, lower than any country in the EU.

European Corporate Tax Rates

The above table created from Trading Economics data.

Europeans, Keep Calm, Move to the UK

Image modified from UK Sun article Cheeky Campaign to Steal British Business After Brexit

Economic Madness

Brussels wants Spain, Greece and Italy to balance the budget by raising taxes. Meanwhile the ECB punishes savers with negative rates.

One look at the first set of spreadsheets is all you need to know what ails France, Spain, Italy, and Greece.

France is a socialist madhouse of anti-business rules, Italy is a competitive basket case, and Greece is towards the bottom on the European barrel on everything.

Monetary policy cannot fix productivity issues, or structural flaws in the euro itself, but the ECB insists anyway. For details, please see Dear ECB, What’s in Your Wallet?

Mike “Mish” Shedlock

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