business, company, Conservative, corporation, David Cameron, EU, european union, firm, government, Investment Partnership, Investor State Dispute Settlement, ISDS, Michael Meacher, Mike Sivier, mikesivier, NAFTA, North American Free Trade Agreement, people, politics, Tories, Tory, Transatlantic Trade, transnational, TTIP, USA, Vox Political
“If Britain joined up to the Investor-State Dispute Settlement [system] in the current secret Transatlantic Trade and Investment Partnership (TTIP) negotiations, the UK would be exposed to an even greater number of disputes and costs than Canada suffered under the NAFTA [North American Free Trade Agreement], while being “highly unlikely” to bring in any additional investment.” – Michael Meacher MP.
Mr Meacher’s article on TTIP provides many examples of such litigation, that have taken place under already-agreed free trade deals. Why, he asks, would the UK want to sign an agreement that will immediately place it under threat of legal action, while gaining nothing in return?
You’d have to be crazy to put the economy in the hands of the lunatic who suggested it, wouldn’t you?
The lunatic, in this case, would be David Cameron, leader of the political party most people in Britain seem to think is best at running the economy! Do you want to rethink that, Britain?
“The Cameron government as usual is the stooge that follows the US lead,” writes Mr Meacher, after pointing out that TTIP is an agreement designed to benefit US and EU transnationals seeking to expand their market access and to engineer the removal of regulations that restrict their profits. It is also “widely seen as an attempt to sideline emerging economies such as China, Brazil and India that are now challenging the hegemony of the core capitalist powers”.
But public resistance is growing (where people know what is going on, that is), and Mr Meacher writes: “The increasingly strident call from civil society is to stop TTIP altogether and replace it with an alternative trade mandate that puts people and the planet before corporate profit.”
Will there be a motion in Parliament any time soon?
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