The Peace Party is strongly opposed to the planned Transatlantic Trade and Investment Partnership (TTIP) arrangements between the EU and USA for a number of compelling reasons, which include the following:
- We believe it would be wrong in principle and foolhardy in practice to allow corporations to limit the freedom of sovereign governments to determine their own public policy.
- It is constitutionally accepted that future British Governments cannot be bound by the decisions of their predecessors. The proposed TTIP arrangements would subvert this principle by making a future government liable for damages if it reversed a prior decision that was held to be detrimental to the interests of foreign corporations. This amounts to constitutional change for which there is no public mandate.
- As a case in point, TTIP would facilitate the systematic take-over of the NHS by currently struggling private US medical concerns. Indeed it seems more than likely that this is one of the objectives motivating the proponents of TTIP.
- Cases already taken to court demonstrate the baleful effects of aggressive litigation by US companies against national governments. In Australia, Philip Morris Asia is challenging the tobacco plain packaging legislation under the 1993 Agreement between the Government of Australia and the Government of Hong Kong for the Promotion and Protection of Investments (Hong Kong Agreement). This is the first investor-state dispute that has been brought against Australia. And in Uruguay, Philip Morris International is suing Uruguay for $25 million, for increasing the size of the graphic health hazard warnings on its cigarette packets.
- TTIP marks a further step in the encroachment of economic neo-liberalism into Europe’s and the nation’s affairs, and would be extremely difficult to reverse.