24 March 2015
The Business, Innovation and Skills Committee has today published a report into the Transatlantic Trade and Investment Partnership. It is “not convinced” about ISDS provisions in TTIP and urges the government to share more information.
The Committee calls on the government to ensure an unequivocal statement which guarantees the protection of public services as they are at present, and the right to expand them in the future, is included in any ISDS provisions.
It calls for transparency, stating; “The Committee believes the case has not yet been made for Investor State Dispute Settlement provisions (ISDS) in TTIP and is deeply concerned at the Government’s intention not to submit a formal response to the European Commission’s consultation on ISDS provisions.
“The Committee calls on the Government to submit a formal response, open to public scrutiny, which argues for the inclusion of clauses to dismiss frivolous claims; the exclusion of any clauses which would require the State to pay in all outcomes; and a statement ensuring the right to regulate by Sovereign Nations takes precedence over an investor’s right to invest is placed at the heart of the Government’s response on ISDS provisions.”
TUC General Secretary Frances O’Grady said:
“MPs are right to demand that the protection of the NHS and public services should be put beyond doubt by writing it in to the deal rather than just relying on the assurances of ministers and EU commissioners. The TUC also agrees with the MPs’ call for a sector by sector assessment of the potential risks and benefits of TTIP.
“The government should respond to the MPs’ view that the case for including Investor State Dispute Settlement (ISDS) has not been made by scrapping this undemocratic and unfair preferential treatment for foreign investors.”