Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Government exposed to secret international tribunals

Government exposed to secret international tribunals
under Capital Markets Task Force asset sales agenda

The New Zealand Government will be exposed to being sued by international investors if the Government continues to follow the Capital Markets Task Force agenda on partial state asset sales.

Under the Trans Pacific Partnership (TPP) currently being negotiated, foreign investors in partially privatised energy companies would be able to seek damages against the Government for implementing any law or regulation that was claimed by foreign investors to be detrimental to their interests.

For example the New Zealand Government could be sued for introducing energy efficiency policies which foreign investors could argue threaten their profit stream or share value. International investors could see any government regulations to protect or improve water quality as a threat to their profits.

New Zealand investors would not have the same right to act to protect their investment.

Already Peru, Chile, Ecuador and Mexico are among countries adversely affected by large international corporations using the disputes provisions of so-called free trade agreements.

The Investor State Disputes Settlement (ISDS) provision of the TPP which provides for the governments to be sued has been rejected by the Australian Government. There is no information that the New Zealand Government has also opposed such an attack on its national sovereignty.

The New Zealand sharemarket has suffered from a loss of confidence following the collapse of crooked finance companies, unscrupulous financial advisors, company amalgamations and overseas takeovers.

The Capital Markets Task Force report of December 2009 called for more quality stocks to be listed – identifying state assets as their target to fill the gaps in the stock market.

The Capital Markets Task Force is driving an agenda of self interest in wanting to have more tickets to clip through increased share trading.

Up to 80% of New Zealanders polled have stated their opposition to state asset sales.

Any partial sale of state assets under the TPP ‘charter of international corporations’ rights’ is a further undermining of New Zealand sovereignty and ability to control its own energy policies – and economy.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news