Sweden compensates for its big government with an open free-market economy and business-friendly laws.
In 2019, government spending equaled a remarkable 55 per cent of Atlantic Canada's economy.
Government accounted for 61.6 per cent of all economic activity in the province.
Lower trade barriers allow businesses to shift more easily toward areas where goods and services can be produced more cheaply.
High rates can influence people’s decisions on where to work or start new businesses.
In 2019, equalization represented 15.5 per cent of provincial revenue in Nova Scotia.
While the regulatory change is welcome news, significant reforms are still required to restore investor confidence.
Forecasts project a -5.1 per cent decline in the province's GDP.