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Alberta freest Canadian province, ranks 12th in North American; other provinces rank near bottom

Published

5 months ago

5 minute read

From the Fraser Institute

By: Dean Stansel, José Torra, Matthew D. Mitchell and Ángel Carrión-Tavárez

Alberta is, once again, the Canadian province with the highest level of economic freedom, while most other provinces rank in the bottom half in the annual Economic Freedom of North America report, published today by the Fraser Institute, an independent, non-partisan, public policy think-tank.

Individuals have more economic freedom when they are allowed to make more of their own economic decisions such as what to buy, where to work and how to start and run a business. And research shows that economic freedom is fundamental to prosperity.

The report ranks the provinces and states individually for each country (Canada, the U.S. and Mexico). In addition, there is a fourth measure comparing and ranking all states and provinces, across all three countries. All of the rankings measure government spending, taxation, regulations and labour market restrictions using data from 2022 (the latest year of available comparable data).

“Higher taxes, higher levels of government spending and overly burdensome regulations continue to depress economic freedom across much of Canada, which makes it harder for individuals and businesses to thrive and create jobs,” said Matthew Mitchell, a senior fellow at the Fraser Institute and co-author of this year’s report.

In the ranking covering all three countries, which includes both federal and provincial government policies, Alberta is once again the highest-ranking Canadian province. It tied four U.S. states at 12th, having improved its ranking from 41st last year.

The next freest province is British Columbia, which ranks 43rd out of 93, followed by Ontario (47th), Saskatchewan (50th), Manitoba (53rd) and Quebec (54th).

The four Atlantic provinces— New Brunswick (57th), Prince Edward Island (58th), Nova Scotia (59th) and Newfoundland and Labrador (60th)—have the lowest levels of economic freedom among all provinces and U.S. states, only outranking the Mexican states and Puerto Rico. New Hampshire, once again, earned the overall top spot amongst all provinces and states in the rankings this year.

“The link between economic freedom and prosperity is clear: people who live in provinces or states that have comparatively lower taxation, lower government, sound regulatory regimes and more flexible labor markets tend, on average, to live happier, healthier and wealthier lives,” Mitchell said.

For instance, according to the latest report, total income in the freest jurisdictions grew 29 per cent after adjusting for inflation over the last decade, while in the least-free jurisdictions, total inflation adjusted income fell 13 per cent.

The Economic Freedom of North America report (co-authored by Dean Stansel, José Torra and Ángel Carrión-Tavárez) is an offshoot of the Fraser Institute’s Economic Freedom of the World index, the result of more than a quarter century of work by more than 60 scholars including three Nobel laureates.

Detailed tables for each country and subnational jurisdiction can be found at www.freetheworld.org.

Economic Freedom of North America 2024

  • The indices in the Economic Freedom of North America 2024 measure the degree to which governments in North America permit their citizens to make their own economic choices.
  • They include data from the 10 Canadian provinces, 50 US states, 32 Mexican states, and the US territory of Puerto Rico.
  • In the all-government index—which takes account of federal as well as state/provincial policies—the most economically-free jurisdiction in North America is New Hampshire, followed by Idaho, Oklahoma and South Carolina tied for third, and Florida and Indiana tied for fifth.
  • The lowest-ranking jurisdictions are all Mexican states. In last place is Ciudad de México. Above that is Colima, Campeche, Tamaulipas, and Zacatecas.
  • Alberta is the highest-ranking Canadian province, tied for 12th place with Tennessee, South Dakota, Colorado, and Texas. The next-highest Canadian province is British Columbia, which is tied with Massachusetts, Minnesota, and New Mexico for 43rd.
  • Average economic freedom across all 93 jurisdictions has fallen every year since 2017 and is now slightly above its all-time low.
  • Incomes in the freest top 25 percent of North American jurisdictions were 21 times higher than in the least-free.
  • From 2013 to 2022 the population of the freest US states grew 10 times faster and total employment grew three times faster than in the least-free states.

 

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Business

Trump announces UK will fast-track American products under new deal

Published on May 8, 2025

By

MXM logo MxM News

Quick Hit:

President Donald Trump on Thursday announced the framework of a new trade agreement between the United States and the United Kingdom, calling it a breakthrough that will eliminate red tape and fast-track American exports.

Key Details:

  • President Trump told reporters the UK would be “opening up the country” to American goods, particularly U.S. beef and other agricultural exports.

  • Although the current 10% tariff rate on the UK will remain, the agreement offers Britain some flexibility on imports like auto parts and aircraft components while laying the foundation for an “economic security agreement.”

  • Trump emphasized that the UK has agreed to speed up the customs process for American products: “There won’t be any red tape—very fast approvals.”

Diving Deeper:

President Donald Trump on Thursday revealed that the United States and the United Kingdom have finalized the framework for a new bilateral trade deal, marking the first formal economic pact since his administration’s imposition of “Liberation Day” tariffs last month. Speaking from the Oval Office, Trump said the deal would ease trade barriers and accelerate customs clearance for American exports, with a particular focus on agricultural products like beef.

“They’ll also be fast-tracking American goods through their customs process, so our exports go to a very, very quick form of approval, and there won’t be any red tape,” Trump said. While a 10% tariff on British goods remains in place, the agreement grants London some relief on imports of automobile and aircraft components and extends an invitation to join a broader “economic security agreement.”

Prime Minister Keir Starmer joined the announcement via speakerphone and praised the negotiating team for their work. “This has been under discussion for weeks,” Starmer said, highlighting the roles of Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer in brokering the deal.

The announcement underscores the growing rapport between Trump and Starmer, who previously met at the White House on February 27th. While the final terms of the deal are still being worked out, the Trump administration has positioned this framework as a significant win in its broader push to restructure global trade in favor of American producers.

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Business

Global trade reorder begins in Trump deal with United Kingdom

Published on May 8, 2025

By

From The Center Square

By 

Seeking to reorder global trade with America at the center, President Donald Trump announced the framework of a trade deal with the United Kingdom on Thursday.

Prime Minister Keir Starmer, since 2024 leader of a nation that maintains a special relationship with the U.S. including a more even trade balance than with other countries, spoke with the president by phone during an Oval Office meeting Thursday morning.

“This is turning out to be a great deal for both countries,” Trump said.

The 78-year-old second-term Republican president said the deal would improve market access for U.S. products in the United Kingdom, and improve the relationship between the two countries. Trump said it was the first of many deals from his trade team.

The 62-year-old leader of the Labour Party said the deal would create new jobs in both nations.

“We can finishing ironing out some of the details, but there’s a fantastic platform here,” Starmer said, calling the deal “historic.”

Commerce Secretary Howard Lutnick said the U.S. has balanced trade with the United Kingdom. Lutnick said it would add $5 billion in market access to the U.S. Lutnick said the United Kingdom would get a 10% tariff on 100,000 automobile imports to the U.S., lower than the 25% tariff on foreign autos for other nations.

Lutnick said the lower tariff would protect jobs in the UK.

On social media, Trump wrote, “Today is an incredible day for America as we deliver our first Fair, Open, and Reciprocal Trade Deal – Something our past Presidents never cared about. Together with our strong Ally, the United Kingdom, we have reached the first, historic Trade Deal since Liberation Day. As part of this Deal, America will raise $6 BILLION DOLLARS in External Revenue from 10% Tariffs, $5 BILLION DOLLARS in new Export Opportunities for our Great Ranchers, Farmers, and Producers, and enhance the National Security of both the U.S. and the UK through the creation of an Aluminum and Steel Trading Zone, and a secure Pharmaceutical Supply Chain. This Deal shows that if you respect America, and bring serious proposals to the table, America is OPEN FOR BUSINESS. Many more to come — STAY TUNED!”

Trump announced a slate of higher tariffs on foreign nations on April 2, which he dubbed “Liberation Day” for American trade. On April 9, Trump paused those higher rates for 90 days to give his trade team time to make deals with other countries.

When Trump temporarily suspended the higher tariffs on April 9, he kept a 10% baseline tariff in place along with a 25% import duty on foreign autos and auto parts. He also kept 25% tariffs on foreign steel and aluminum.

Trump also imposed 145% tariffs on China, which retaliated with 125% tariffs on U.S. goods. Those tariffs remain in place, although the two nations are set to begin talks this weekend.

Economists, businesses and many publicly-traded companies have warned that tariffs could raise prices on a wide range of consumer products.

Trump has said he wants to use tariffs to restore manufacturing jobs lost to lower-wage countries in decades past, shift the tax burden away from American families, and pay down the national debt.

A tariff is a tax on imported goods. The importer pays the tax and can either absorb the loss or pass the cost on to consumers through higher prices

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