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Tuesday, 3 March 2015

TTIP - Privatisation of Democracy?

The Transatlantic Trade and Investment Partnership TTIP is currently being negotiated between the EU and the USA.

Ostensibly the deal will create a free trade area with the EU and USA as members.

Now free trade is good and to be welcomed as a driver of economic development, however, I believe that there are too many drawbacks with what is currently being negotiated for it to be a good thing overall.

TTIP is likely to threaten environmental and consumer protection laws in Cornwall and could take vital decisions out of the hands of our elected rpresentatives, giving corporations the opportunity to sue governments if their profits are affected. The Investor-State Dispute Settlement (ISDS) will be a new legal tier outside of the EU framework.

Another problem is that jobs could well be even harder to come by as companies switch from the EU to the USA where employment regulations are set at a lower standard than in Europe.

Negotiations are being kept under wraps and I am always wary of any public process that lacks transparency.

All in all the disadvantages and 'dumbing down' of our standards to make creating profit easier and the 'privatisation of democracy' are too high a price to pay for improving the balance sheets of big corporations.

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