The President of Georgia, Mikheil Saakashvili introduced the Act of Economical Liberty on the Plenary Sitting of Parliament, which reflected the stimulation of economical growth of the country and the measures, elaborated for improvement of investment environ.
According to Mikheil Saakashvili’s statement, Act of Economical Liberty represents the Constitutional Bills and its primary value basis is freedom, equal opportunities and dignity.
"Freedom – expressed in small scale, in low taxes, maximal liberation of the entrepreneur and the citizens from governmental interference and bureaucratic discrecity; opportunities for everyone – supported with free economics and transparent administration, besides, increased social mobility means, available education, diligent work and play observing all rules; dignity – legal spread of aid from the state on those, who are disable to enjoy the granted opportunities, and the incapable citizens will be preserved the chance to live worthy lives”.
As the President of Georgia stated, these three values are mostly necessary for the citizens and entrepreneurs today, and these are exactly the values, which represent the basis for liberal economical view of the government.
Mikheil Saakashvili gave publicity to the following initiative reasoning from the principles of the Act of Economical Liberty: "Act of Liberty, first of all, will constitutionally defend severe and transparent rules, which will restrict possibility of executive government to deviate the dynamic economical governance;
It will be constitutionally determined that ratio of budget expenditures to total internal production will not constitute more than 30%; ratio of budget deficiency to total internal production will constituted not more than 3%, and ratio of utter state debt to total internal production – not more than 60%”.
According to the President’s statement, its 12 years already that right of repatriation of revenues and capital of Georgia is unlimited. Due to this fact, many citizens and businesspersons gain profit, employment development is supported. As he stated, Act of Economical Liberty reflects this significant policy in the legislation for the purpose to avoid future alteration of this policy.
Mikheil Saakashvili noted that the Act of Liberty considers prohibition to increase already determined quantity of licenses and permission.
Act of Liberty prohibits own of shares in commercial banks or settlement of price on any type of production and services by the state.
According to his statement, this step will provide permanent freedom of price settlement in Georgia.
The President of Georgia noted that in spite of the fact that in recent years particular economical growth was achieved, one fourth of the population is still under the poverty line and condition of this part of society is the principle task of the state: "I can not be satisfied with any economical success until the layer of people under poverty line is of such volume in the country. We will direct approximately 30% from the budget of the country for social provision and pensions, health care and education. The Act of Liberty will further develop "social” part of the budget for state aid increase as a result of purpose estimation”.
"We are proud of successful policy, as a result of which we issue health insurance vouchers for poor, by means of which they will be able to address any private insurance company, and parents with their own will, to use state school vouchers in any, public or private school. The Act of Liberty will strengthen the idea that budget assets shall be used thus to allow our citizens make their choice and not be directed for direct financing of state provider. That is, to finance not institutes and organizations but finance people, to whom this financing belongs and are mostly in need, and leave finance of option for them, and institutes will be financed with the profit of such people”.
According to the statement of the President, the most important principle, which is stipulated in the Act of Liberty, is that any taxation or increase of taxes shall be possible only by means of referendum, only with the decision of people: "Low and simple taxes are our greatest achievement, which attracts investors to our country, makes available employment, apportions more money to people and business. The government is obliged to secure stability of this policy in spite of any political changes. Right to increase taxes or create new taxes by the state shall not be used without the consent to people”, – Mikheil Saakashvili stated.
The President of Georgia noted that the Act of Economical Liberty itself is too ambitious, which will convert Georgia to the country, where the supreme law protects direct liberal economical track: "After adoption of this Act, Georgia will become the advanced country in the world in a view of protection of economical liberalism by legislation and the Constitution”. As he stated, this Act will allow Georgia become more attractive for investors. Correspondingly, to create new employment means. "Georgia is part of global economics and we shall direct our effort to the way that instead of been locked in our own frames, open economics wider and try to become more competitive on global market”, – Mikheil Saakashvili noted.
During his speech in Parliament, Mikheil Saakashvili spoke of Rose Revolution and further economical policy results held by the government. As he stated, the fact that economical growth exists in Georgia and the country is on advanced positions in various ratings, is the result of liberal policy, held by the government, and the founder of liberal economical policy in Georgia is Ilia Chavchavadze: "One of the founders of current state perception. We all have been brought up on his activity, but only few know that Ilia Chavchavadze was exactly the person, who was the first to preach free trade, open economics, minimal interference of government in economics and low, liberal taxes”.
According to his statement, the revolution in economics of Georgia has started since 2003 after the Rose Revolution. Moreover, the Rose Revolution was stepping on Ilia’s path: "The Rose Revolution was and still is the way to economical liberty, minimal interference of the government in economics and maximally open economical and business environ. We shall never deviate from this path”.
Mikheil Saakashvili noted that the Act of Economical Liberty is the possibility to convert struggle for liberal and developed economics from fragmentary gleam to permanent ray of light, to lead the country to prosperity and employment of each family.
As he stated, only those revolutions have ended with final historical success, which managed to convert revolutionary ideals to institutional and economical systems under the conditions of democracy and freedom. Freedom first, means responsibility.
"Success of liberal economics is based on responsibility of each citizen, willingness and diligence”, – Mikheil Saakashvili noted.
As he stated, except economics, the Act of Liberty and liberal economical course in general have the great political meaning as well, particularly in struggle of the country for independence and freedom: "One of the most importance circumstance, which conditions our aspiration to liberation from Russia, is not only physical freedom, but freedom from the way of life and thinking, on which is based the empire, confronting us”.