Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

Dunne Supports Corporations Suing NZ Taxpayers

Dunne Supports Corporations Suing NZ Taxpayers

Ohariu MP Peter Dunne will be remembered as the man who delivered Corporate Control of New Zealand to big multinational companies.

Mr Dunne’s vote against the Fighting Foreign Corporate Control bill in Parliament makes it clear he will also vote for the Trans Pacific Partnership Agreement when it appears briefly in Parliament some time next year.

Mr Dunne gift wrapped a massive Christmas bonus to big overseas corporations operating in New Zealand as the TPPA will give them the ability to sue New Zealand taxpayers for millions in damages for loss of profits under the Investor State Disputes Settlement clauses of the Agreement.

Companies will be able to initiate legal action in secretive offshore tribunals claiming that new laws and regulations (for example, a ban on fracking, smoking control laws, or a cap on electricity prices) have seriously undermined the value of their investments.

The 61 to 60 vote will likely be the outcome when the TPPA appears in parliament next year, after 5 years of negotiations in absolute secrecy, and without any select committee process, without any public consultation, without any submissions, and without any debate in parliament.

In 2012 a record 59 ISDS cases were lodged; last year 56 were. The highest award so far is some $2.3 billion to Occidental, an oil company, against the government of Ecuador, over its (apparently lawful) termination of an oil-concession contract.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

Even the threat of legal action can be enough to stop the introduction of legislation. In 1990 the new provincial government of Ontario in Canada planned to implement a major policy plank - a provincial car insurance scheme. News of this brought the threat of a $2 billion lawsuit by America’s State Farm Mutual Insurance. The new government backed down on its election promise and decided not to proceed, frustrating the will of the electors.

American Economist Robert Reich has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He also served on President Obama's transition advisory board.

He contends that the TPPA is a "Trojan horse in a global race to the bottom, giving big corporations and Wall Street banks a way to eliminate any and all laws and regulations that get in the way of their profits."

ENDS

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines



Gordon Campbell: On Dune 2, And Images Of Islam


Depictions of Islam in Western popular culture have rarely been positive, even before 9/11. Five years on from the mosque shootings, this is one of the cultural headwinds that the Muslim community has to battle against. Whatever messages of tolerance and inclusion are offered in daylight, much of our culture tends to be hostile to Islam when we’re sitting in the dark, with popcorn.
Any number of movie examples come to mind, beginning with Rudolf Valentino’s role (over a century ago) as the romantic Arab hero in The Sheik...
More


 
 


Government: One-stop Shop Major Projects On The Fast Track

The Coalition Government’s new one-stop-shop fast track consenting regime for regional and national projects of significance will cut red tape and make it easier for New Zealand to build the infrastructure and major projects needed to get the country moving again... More

ALSO:


Government: GPS 2024: Over $20 Billion To Get Transport Back On Track
Transport Minister Simeon Brown has released the draft Government Policy Statement (GPS) on Land Transport, outlining the Coalition Government’s plan to build and maintain a transport system that enables people to get to where they need to go quickly and safely... More

ALSO:

Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.