The Financial Post reports in its Friday, Oct. 23, edition that Canada's tax system has grown so complex that a review or even an overhaul will not work, so it needs to be scrapped, says National Bank of Canada chief executive officer Laurent Ferreiera. The Post's Naimul Karim writes that Mr. Karim says Ottawa needs to hire a bunch of experts to write a new tax code with the "goal of becoming the simplest, most efficient and most competitive tax jurisdiction of all developed countries." He says: "The complexity of our tax code is a burden and a real cost, especially for small businesses that often lack the resources to navigate all the rules. We need a tax code that creates the right conditions to attract capital and talent, generate jobs and build wealth for all Canadians." Canada was ranked 15th among 38 industrialized countries in an annual study of how competitive countries' tax systems are by the Tax Foundation's Center for Global Tax Policy. That was the same as last year, but it slipped two places to the 28th spot in the individual tax category and was ranked 25th in the property taxes category.