Nsanlosa

[Rogue]

Haradesa - With 95 of the 150 votes in favor, the "Freedom through Liberalization and Expansion Act" or "FLEX" for short has passed the Chumba, marking the first significant victory of the Salehe government. The act is seen as the first significant and succesfull attempt to deregulate the economy, which had long been a highly regulated, state guided economy. After several failed attempts in the last decades, the new government led by the liberal NVD pledged to finally work in achieving the goal of a more balanced economy, pushing the Nsanian economy forward in the process. With the FLEX act, the government will likely have the tools to drive a new privatized economy, hopefully dragging Nsanlosa out of its protracted period of economic instability. 

Under the bill a wide variety of measures is taken. One of those measures is a revision of all federal regulations that are older then 15 years, with the goal to scrap a wide variety of them. In addition, for every new federal regulation introduced, at least two existing regulations must be repealed or simplified. These measures are meant to force the government in organizing regulations more efficiently. Important measures to stimulate the market include start-ups being able to register their business entities online within 48 hours, with no notary requirement. International start-ups will be protected from double regulatory burdens through a harmonized compliance framework. These are just a few of the many efforts towards deregulation within the FLEX act. 

Besides deregulatory measures, the act also seeks to lower the tax burden on businesses and individuals, with income taxes across all brackets to be reduced by 5%. For businesses, the base corporate tax rate will be lowered from 21% to 15%, all in a effort to stimulate growth. While this will significantly reduce tax revenue, the government seeks to cut at least 3 billion in funding for both defense and health spending, with the idea that without a rebounding economy any effort to improve other spheres will fail. 

President Salehe has thanked legislators for their confidence in "this important path towards a more substainable economic model" and has pledged that his government will push for "a Nsanian economy capable of growth and set up to provide for our people in the long run." He has also announced that he will make a Dovanian tour in the coming weeks, aimed at rekindling old relationships and forging new ones in order to open up Nsanlosa to the wider region.