Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Key doing deal with US that benefits Wall Street

20 June 2014

Key doing deal with US that benefits Wall Street

John Key needs to tell the public why New Zealand is currently involved in a trade deal to benefit Wall Street at the expense of Queen Street, Green Party Co-leader Dr Russel Norman said today.

The text of a 19-page, international trade agreement involving New Zealand has just been published via WikiLeaks. According to the United States Chamber of Commerce, the Trade in Service Agreement (TISA) ‘should expand access to foreign markets for United States service industries and ensure they receive national and most-favoured nation treatment’.

“The United States is pushing to limit regulation of financial services,” said Dr Norman.

“The Trade in Services Agreement (TISA) is a deal aimed at locking the sort of policies that caused the Global Financial Crisis in the first place.

“The United States also want to freeze financial regulation at existing levels, which would severely limit the ability of sovereign governments to deal with another global financial crisis.

“The New Zealand public has been kept completely in the dark about this agreement,” said Dr Norman.

“All the New Zealand public has been told about this deal is a few paragraphs on the Ministry of Foreign Affairs and Trade’s website that promotes all the potential upsides of this deal while failing to point out the downsides.

“For a major world-wide financial services agreement that could restrict the ability of a future New Zealand government to regulate this is simply not good enough.

“John Key has the perfect opportunity with his upcoming meeting with President Obama to tell the New Zealand public just why we have been negotiating this agreement in secret.

“Mr Key and his officials also need to clearly spell out the potential downsides of this agreement for the New Zealand public.”

Link to the Wikileaks page on TISA:

https://wikileaks.org/tisa-financial/WikiLeaks-secret-tisa-financial-annex.pdf


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog