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

2040 Target And Lower Standards: “Swimmable” Rivers Five Times More Likely To Make You Sick

Forest & Bird has condemned the government’s new water quality standards, warning New Zealanders that they lock in current levels of water pollution and allow for a 5-fold increase in the chance of getting sick from swimming in a river.

“Despite an explicit assurance from Minister Smith that the new water standards would provide for human and ecosystem health, he has failed to deliver on either of these things,” says Forest & Bird CEO Kevin Hague. More>>

 
 

Mayor: 750 New Social And Affordable Homes For Wellington

The next stage of Wellington’s Housing Upgrade Programme will see at least 750 new units of social and affordable housing built over the next decade, Mayor Justin Lester has announced. More>>

ALSO:

22/2: Christchurch Quake Memorial Unveiled

A city, a region, a nation and an international community impacted by the Canterbury Earthquakes will come together to mark the sixth anniversary of the deadly quake and dedicate Oi Manawa Canterbury Earthquake National Memorial. More>>

ALSO:


November Quakes:

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics. More>>

ALSO:

Private Provision: First Social Bond To Focus On Mental Health

New Zealand’s first social bond will help around 1700 people with mental illness into work, Finance Minister Steven Joyce and Social Investment Minister Amy Adams say. More>>

ALSO:

Immigration: Short Reprieve For Nine Indian Students

A temporary hold on deportations of nine Indian students is a step in the right direction but the Government urgently needs to implement safeguards to stop further injustices to more international students, the Green Party says. More>>

EARLIER:


Megaupload Case: High Court Rules Dotcom, Co-Accused Eligible For Extradion

Internet entrepreneur Kim Dotcom and his three co-accused are eligible for extradition to the United States, New Zealand's High Court ruled... Justice Murray Gilbert upheld a decision by the District Court that there were grounds for Dotcom, Mathias Ortmann, Bram van der Kolk and Finn Batato to be extradited. More>>

ALSO:

PREVIOUSLY:

Port Hills Fire: Midday Update, Monday 20 February

• 9 homes destroyed
• 2 homes with partial damage. Damage includes things like cracked windows, heat damage.
• 3 properties with damage to other external structures e.g sheds or outbuildings More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news