Canada's competitiveness slips

Taxation and labour market contribute to three-point drop
||Last Updated: 10/06/2006

Canada has slipped three spots in a ranking of the world's most competitive countries, according to a new international report.

Canada's tax rates and regulations were the two "most problematic'' business factors, the survey by the Geneva-based World Economic Forum found. Inefficient government bureaucracy and restrictive labour regulations were also cited.

Canadian economic competitiveness dropped to 16th place from 13th, placing it between Israel and Austria.