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

 


National Government loses $5 billion-plus fig leaf for TPPA

National Government loses $5 billion-plus fig leaf for TPPA


‘The fig leaf of over $5 billion in gains to the New Zealand economy from the Trans-Pacific Partnership Agreement has been stripped away’, said Auckland University law professor Jane Kelsey, a long-term critic of the proposed TPPA.

The Sustainability Council of New Zealand has just released an evaluation of the study by the Washington-based Peterson Institute for International Economics that Prime Minister Key and National ministers have relied on.

The review, led by Wellington economist Dr Geoff Bertram, concludes that the Peterson Institute’s study has greatly exaggerated the projected gains and ignored the financial and intangible costs. Only about one quarter of the projected gains are backed by a credible economic methodology and the Peterson Institute ignores the many fiscal and regulatory downsides.

On the information available, they doubt there is a net benefit to New Zealand from the TPPA.

Their analysis is consistent with the criticisms that Australian Productivity Commission made in 2010 about similar studies on the Australia US free trade agreement and other bilateral deals.

‘Several years ago trade minister Tim Groser dismissed the value of such modelling, and predicted “wearily” that a study would emerge to claim mega-gains for the TPPA’, Jane Kelsey observed.

‘Despite Groser’s scepticism, his own government has used the Peterson Institute report to rally support for a deal that many New Zealanders see as toxic.’

‘When the Prime Minister started producing ever-higher projections, I speculated some fancy footwork was going on,’ Kelsey said.

‘We are indebted to Geoff Bertram and the Sustainability Council for explaining the technical reasons why these figures have no credibility.

‘Politicians know that ballpark figures that promise enormous gains make headlines, even if they lack substance. That now has to stop’.

Professor Kelsey reiterated the call for a full and independent cost benefit analysis of the monetary costs and benefits, and the constraints on New Zealand’s sovereignty, before any deal is signed.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news