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

 

New TPPA Investment Leak Confirms NZ Surrender to US

New TPPA Investment Leak Confirms NZ Surrender to US

The controversial investment chapter of the Trans-Pacific Partnership Agreement (TPPA) has just been posted by Wikileaks, along with an analysis by Washington-based Public Citizen. Dated 20 January 2015, at the start of the negotiating round in New York, it clearly shows the governments has capitulated to US demands.

‘We haven’t seen a text since 2012’, said Auckland University law professor Jane Kelsey. ‘Today’s leaked text confirms all our worst fears.’

‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’.

‘Prime Minister John Key once described the idea of investor-state dispute settlement (ISDS) as “far-fetched”.’

‘After he was briefed about the TPPA he changed tack, promising there would be effective safeguards. But the leaked text shows very little has not been agreed. That means the New Zealand government has accepted virtually everything the US has proposed with absolutely no effective safeguards.’

Professor Kelsey recalls how ‘we were assured the flaws that have made these investment agreements so toxic internationally would be sorted and new rules would prevent the investment tribunals going rogue.’

‘The leaked text shows nothing has been done to rein them in. There is no code of conduct, no appeals, no accountability of the private individuals who pass judgement on crucial matters of public policy, and no effective exceptions to protect the right of the government to regulate in the national interest’.

There are high risks for local governments as well.

‘Just last week, as protestors rallied against an extension of the port into the Auckland harbour, an investment tribunal upheld a case against Canada because an environment review panel refused to grant a US firm a permit for a quarry and marine terminal, saying it violated community values and there was inadequate consultation. The investor wants $300 million compensation. The local council is likely to be made to pay the bill.’

The dissenting judge, who was the Canadian government’s appointee on the tribunal, warned this meant the validity of local decisions would end being decided by foreign private arbitrators. The finding would also chill environmental review panels from rejecting proposals in the future.

Kelsey said the virtually concluded text shows the TPPA parties have completely ignored the tide of international sentiment that is rejecting these special rights for foreign investors.

The French and German governments have said they won’t accept ISDS in the parallel deal being negotiated between the US and EU.

Last year the chief justices of Australia and New Zealand expressed concerns about the potential of these investment tribunals to bypass or override decisions of our domestic courts.

Even Business New Zealand told the OECD during a consultation that they don't see the need for such powers where countries have quality judicial systems.

‘We need to ask why the government is opening us further to these risks, especially when US investors are responsible for more ISDS cases than any other country.’

‘The leak also shows the futility of the few positive changes secured in the investment chapters of the latest Korea agreement. Anything better in the TPPA would be available to Korea’s investors under the most-favoured nation rule. It beggars belief that New Zealand’s negotiators weren’t aware of that reality. Maybe they are just hoping the TPPA well never come into being?’


For Professor Kelsey’s initial analysis of the investment chapter in the Korea FTA and the leaked TPPA text see:http://www.itsourfuture.org.nz/wp-content/uploads/2015/03/QA-on-NZ-Korea-FTA.pdf


ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Crowdsale And Crowdfunding Campaign: Help Create The Future Of Independent News

Two weeks to go! The Scoop 3.0 plan aims to create NZ’s first community-owned, distributed news and media intelligence ecosystem in 2019. We believe this ScoopPro media monetisation approach can be scaled and spread globally to support local and independent news efforts in regional New Zealand and around the world.

Scoop is an ecosystem, it would not exist without those who contribute to it, read it and rely on it for professional media purposes. Generous past support from this ecosystem has enabled us to come this far in developing our business model. Support our PledgeMe Campaign>>

 

14/11: Two Years’ Progress Since The Kaikoura Earthquake

Mayor John Leggett said it was a day for reflection, but also a time to recognise the work by many people to support progress towards recovery made across Marlborough since November 2016. More>>

ALSO:

Pike River: Mine Drift Re-Entry Plan To Proceed

“I’ve decided the Te Kāhui Whakamana Rua Tekau Mā Iwa - Pike River Recovery Agency, recommended course of action to enter the drift, using the existing access tunnel, is by far the safest option,” said Andrew Little. More>>

ALSO:

Appointments: New High Commissioner To Australia Announced

“Dame Annette King needs no introduction given her long running career as a parliamentarian where she has previously held a number senior Cabinet portfolios, including Justice, Police and Health. She also was Parliament’s longest serving female MP with 30 years’ service,” said Mr Peters. More>>

ALSO:

Two Years Since Kaikoura: Silvia Cartwright To Lead Inquiry Into EQC

“The inquiry will be the first of its kind under the Public Inquiries Act 2013 and will have all the powers of a Royal Commission, be independent of Government and make its report directly to the Governor-General. More>>

ALSO:

Gordon Campbell: On The Royal Commission Into Child Abuse

Obviously, it is good news that the coalition government has broadened the scope of its Royal Commission into the abuse of children, beyond its previous focus on children in state care. More>>

ALSO:

Cases Delayed: Court Staff Refuse To Handle Sentencing Papers

Dozens of court cases have reportedly been delayed, as court staff escalate industrial action at two Auckland courts by enforcing a ban on handling sentencing papers. More>>

ALSO:

Education: Primary Teachers Rolling Strikes

RNZ Report: More than 100,000 primary school students in Auckland will be home from school today as teachers and principals walk off the job for the second time this year. It's the start of a week of rolling one-day strikes around the country, after the collapse of contract negotiations last Thursday. More>>

ALSO:

"Process Was Sound": Inquiry Into Haumaha Appointment Released

The Inquiry’s purpose was to examine, identify, and report on the adequacy of the process that led to the appointment. It found the process was sound and no available relevant information was omitted. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels