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TTIP |
With just a few days left before the British Parliament
dissolves ahead of the general election, a flurry of select committees are
publishing reports on inquiries which have been held in recent months. Among
them is the Business Innovation and Skills Select Committee’s report on the
Transatlantic Trade and investment Partnership (TTIP), published yesterday.
I gave evidence to the TTIP inquiry on behalf of Global Justice Now.
TTIP is an ambitious neoliberal trade agreement being negotiated between
the EU and USA.
Its purpose is to create new trading opportunities for EU and US business by
reducing tariffs, removing unnecessary regulation, liberalising some sectors
and giving new protection for investors.
The controversy around TTIP is about
what regulation is deemed unnecessary, which sectors will be liberalised and
that business will benefit at the expense of governments.
The gravity of these concerns has ignited a furious public campaign on
TTIP from trade unions, environmental organisations, international development
groups and NHS campaigners, united in their call for the negotiations to stop.
The findings of the BIS select committee report vindicate the public’s
concerns.
Many of the arguments for TTIP rest on the benefits it will bring to the
UK, European and US economy, often breaking this down to a £400
benefit to every UK
family every year. The economic models used to churn out these figures are
fundamentally flawed (
http://blog.policy.manchester.ac.uk/featured/2013/12/the-false-promise-of-eu-us-trade-talks/) and present a
best case scenario which would not deliver any benefits until 2027 and then
only £2 per person a week - equivalent to a packet of fishfingers.
The 11 British MPs from across the political spectrum find that “it is
impossible at this stage to quantify those benefits in any meaningful way”.
They are critical of the figures the UK government uses to promote TTIP
and instruct it to undertake a comprehensive assessment of the likely economic
benefits of various possible outcomes on TTIP.
Read more: New parliamentary report on TTIP highlights its dangers | openDemocracy