Damning government report on TTIP

Damning government report on TTIP


Fresh off the press today is the government’s business report on the EU-US trade deal, TTIP, and its potential impacts on the UK. It finds that TTIP will have little economic and political benefit, even going as far as to say that it will pose ‘meaningful costs’ to the UK. These damning conclusions come with no surprise, and reveal that TTIP is ‘likely to provide the UK with few or no benefits’.

Here are the key findings;

(1) There is little reason to think that an EU-US investment chapter will provide the UK with significant economic benefits. No two countries in the world exchange more investment than the UK and the US, and there is no evidence that US or UK investors view either country as suffering from the kinds of political risks against which investment treaties are supposed to protect. Moreover, existing evidence suggests that the presence of an EU-US investment chapter is highly unlikely to encourage investment above and beyond what would otherwise take place. US investors have generally not taken much notice of investment treaties in the past when deciding where, and how much, to invest abroad – even when dealing with far more questionable jurisdictions than the UK.

(2) There is little reason to think that an EU-US investment chapter will provide the UK with significant political benefits. The political relationship between Washington and Whitehall is exceptionally strong, and we are aware of no evidence that it is vulnerable to a meaningful risk of investor-state disputes that would become undesirably “politicized” in the absence of an investment treaty. Secondly, we find it unlikely that an EU-US agreement would make significant negotiating partners – like India and China – more or less willing to agree to an investment treaty with the EU. Finally, it is unclear whether the US is particularly keen on an investment protection chapter with the EU, which means the Commission may not be able to use such a chapter as an effective ‘bargaining chip’ in other trade and/or investment negotiations with Washington. However, these are all issues that BIS might wish to explore in further detail.

(3) There is some reason to expect an EU-US investment chapter will impose meaningful economic costs on the UK. Based on Canada’s experience under NAFTA, we would expect an EU-US investment chapter to be regularly invoked by US investors against the UK for governmental actions that would normally not be challengeable under UK law. While we would not expect the UK to lose many of these cases on the merits, the UK will necessarily incur costs to defend itself. Legal costs in investment treaty claims are substantial. The UK government may also find itself subject to pressure to settle some claims, even when there are reasonable prospects of successfully defending the claim on the merits. Finally, given the uncertain meaning of key elements of international investment law, it is possible that the UK would occasionally lose some arbitrations on the merits and be liable for significant damage awards.

(4) There is some reason to expect an EU-US investment chapter to impose meaningful political costs on the UK. Under investment treaties similar to a likely EU-US investment chapter, US investors have brought claims that raise potentially controversial questions. Should US investors bring similar claims against the UK, this will increase the chances that a particular dispute could provoke a backlash against the EU-US economic agreement as a whole or, perhaps more broadly, investor-state arbitration as a governing institution.

Follow this link to read the full report:
https://www.gov.uk/government/upload...ion-treaty.pdf

Re: Damning government report on TTIP

I think it's bad news, GillyT, but the law firms may be rubbing their hands in anticipation..

Re: Damning government report on TTIP

Hi

I agree with everything in the report,.

The only issue is Gilly is that unfortunately it is not a report from the Government , it is a report to the Consultation process, which in common with all others is published on the Government website.

I really do not want TTIP, it is difficult to imagine something that is less Democratic than the EU, but TTIP is worse than the EU.

Re: Damning government report on TTIP

I dont trust America, i believe there is something similar being planned for the Asian area.

Re: Damning government report on TTIP

Thank you Gilly darlin' - I have linked the report in an email I've sent to my MP (Dr Caroline Lucas MP) for her to maybe use as 'ammunition' against the Government, possibly during PMQs.

Re: Damning government report on TTIP

I worry that it would mean the privatisation of the NHS. I believe America just wants world domination in all things. It seems that there is so much corruption around, who the hell do you believe. I'm just suspicious of the various agendas that are all over the place. I try to read between the lines and try to follow my instincts. At the moment this TTIP just stinks. If we get involved I fear it would destroy us and make us an absolute nothing. I do hope our government steers well clear of the whole thing.

Is there a politician in our nation who is strong enough to stand firm against corruption and take-overs. I cannot see any of the party leaders who can stand up and deliver for our nation. It is so depressing.

Re: Damning government report on TTIP

I think the privatisation of the NHS will continue to move forward whatever happens. But there is a lot in TTIP that scares me, too. It leaves me thinking that we would then be controlled not only by Europe but by the US as well. I'm glad to be out of the UK these days.

Re: Damning government report on TTIP

Uncle Joe, I wish everybody would do as you are doing, then maybe if enough people join together against TTIP our government could be persuaded to forget about the whole TTIP thing.

My MP must be fed up with all my communications to him, but he is always good enough to instruct his secretary to thank me and confirm receipt, and to also inform me in detail of what he plans to do which is usually what I want ! My attitude is that your MP is elected to be his constituents' mouthpiece, and so far our MP is being just that ! (makes a change dunnit?).

Re: Damning government report on TTIP

It is not only less Democratic than the EU.
Our local businesses, environment and democracy are under threat from a trade deals currently being negotiated in secret under TTIP.
They can and will effect Trade deals, and would have a big impact on councils. They could outlaw local authorities’ support of local businesses.

No No NO I say

Re: Damning government report on TTIP

We're getting it whether we like it or not. The EU will negotiate terms from strength as a big market. Alone and with a Tory government, we'll be sold out, hands down! That's the main reason I'm voting to stay in the EU.

As I've posted many times on this forum. Without noticeable response.