The problem with the free market is that the profit motive does not help public services. Safety, security, health, environment, etc cannot be left to the private sector. 

Second, wealth will keep concentrating in the hands of the rich. There will be a permanent underclass that will vote for communism, which is unhealthy for everyone. 

Third, I agree regulations that inhibit free markets should be dropped. Entrepreneurship is key to progress. Canada should look to successful examples around the world (though we are pretty good ourselves in balancing economic and welfare needs).