Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Trans-Pacific Partnership provisions 'questionable', says Productivity Commission
Source: The Guardian
Trans-Pacific Partnership provisions 'questionable', says Productivity Commission
Commission casts doubt on copyright and investor state dispute
settlement clauses in trade and assistance review
Katharine Murphy Political editor
Monday 25 July 2016 07.20 BST
A key economic policy adviser to the federal government has said the Trans-Pacific Partnership has provisions of “questionable benefit” – including an investor-state dispute settlement (ISDS) clause allowing foreign corporations to sue the Australian government if they think the government has introduced or changed laws that hurt their commercial interests.
The Productivity Commission made the comment in its annual trade and assistance review, released on Monday. The review quantifies the level of assistance governments give to Australian industry and this year criticises regional adjustment programs that have followed the exit of the carmakers, and also the Turnbull government’s big defence procurement spend rolled out in the countdown to the recent federal election.
On the TPP the commission says it is uncertain whether the US will sign the controversial pact before the presidential election in November 2016. While noting that, the commission says the TPP contains provisions of questionable benefit. “These include term of copyright and the investor state dispute settlement elements.”
The commissioner, Paul Lindwall, warned the success in defending a recent landmark ISDS case relating to tobacco plain packaging entailed reported legal costs of about $50m.
[font size=1]-snip-[/font]
Commission casts doubt on copyright and investor state dispute
settlement clauses in trade and assistance review
Katharine Murphy Political editor
Monday 25 July 2016 07.20 BST
A key economic policy adviser to the federal government has said the Trans-Pacific Partnership has provisions of “questionable benefit” – including an investor-state dispute settlement (ISDS) clause allowing foreign corporations to sue the Australian government if they think the government has introduced or changed laws that hurt their commercial interests.
The Productivity Commission made the comment in its annual trade and assistance review, released on Monday. The review quantifies the level of assistance governments give to Australian industry and this year criticises regional adjustment programs that have followed the exit of the carmakers, and also the Turnbull government’s big defence procurement spend rolled out in the countdown to the recent federal election.
On the TPP the commission says it is uncertain whether the US will sign the controversial pact before the presidential election in November 2016. While noting that, the commission says the TPP contains provisions of questionable benefit. “These include term of copyright and the investor state dispute settlement elements.”
The commissioner, Paul Lindwall, warned the success in defending a recent landmark ISDS case relating to tobacco plain packaging entailed reported legal costs of about $50m.
[font size=1]-snip-[/font]
Read more: https://www.theguardian.com/business/2016/jul/25/trans-pacific-partnership-provisions-questionable-says-productivity-commission
