There is a good news coming from Canada. When Liberal Party was in power, it slashed the federal corporate tax rate from 28 percent to 19 percent. Stephane Dion, party's leader, seemingly understands the benefits of lower corporate tax rate for Canada's international competitiveness (link):
"A lower corporate tax rate is a powerful weapon in the federal government's arsenal to generate more investment, higher living standards and better jobs. If you lower the corporate tax rate, you lower the cost of capital for Canadian companies. Therefore, these companies are induced to spend more on capital equipment. As for foreign investment, we need a big hook to snare investment, including Canadian investment, that might otherwise go south of the border."
Delivering the speech on Tuesday, Canada0s Governor general, Michaelle Jean outline government's future intention to implement tax reform and re-enforce the intellectual property rights (link)