The Trans Pacific Partnership (TPP) threat
by Peter Whish-Wilson MP. From the NSW Greens quarterly Green Voice
The Trans Pacific Partnership (TPP) is the biggest trade deal in Australia’s history and has been negotiated in total secrecy.
Few people have had access to the draft agreement. Large corporations have been able to see portions of the text and lobby to make changes, while the public and most people within government have been shut out. If it was not for a few leaked documents we would not know what is going on.Probably the most controversial aspect is the provision that would allow foreign investors to sue any level of government if their profits are reduced by any Australian law or policy. The Investor State Dispute Settlement (ISDS) risks our labour, public health and environmental standards. These clauses are already included in many operating trade agreements and by corporations, and governments have been sued by corporations. In Canada the Quebec government is being sued by the US Lone Pine energy company because it was required to suspend its gas fracking operations to conduct an environmental study.
The Australian government is also being sued under these provisions by Philip Morris over the loss of profits arising from the cigarette plain packaging legislation.
Another worrying aspect of this trade deal is that it will introduce criminal penalties for certain copyright infringements.
Only The Greens are standing against the Investor State Dispute Settlement and other dangers in this trade deal. If Labor and the cross-bench join The Greens in the Senate then there will be enough support for Parliament to block this deal. ‘Opposition’ Leader Bill Shorten has already told his Labor caucus that he wouldn’t block the anti-worker China Free Trade Agreement. The question remains, will he help block the anti-democratic Trans Pacific Partnership? We don’t have long to stand up to the Turnbull-Truss Government and its deregulation agenda.
Investor State Dispute Settlement (ISDS)
“These provisions enable foreign investors to challenge a government’s health, environmental
and other regulations and policies in international tribunals just because they interfere with investor expectation of future profits.”
“This regime has birthed an industry of lawyers, tribunalists and specialized equity funds that finance what has proved to be a very lucrative business of raiding government treasuries.”
Professor Sharon Beder – University of Wollongong
$59 million
Australian tax payers’ legal bill for defending
the cigarette plain packaging policy.