Transatlantic Trade and Investment Partnership — House of Commons, 2015-12-10
Topic: Foreign Trade
Hannah Mary Bardell (Scottish National Party, Centre-left): I would like to put on the record my appreciation for the work that my hon. Friend the Member for Glenrothes (Peter Grant) and the hon. Member for Swansea West (Geraint Davies) did to secure this important debate on TTIP. It is a matter of great concern to many of us across the House and it has been important to hear the varied contributions. I pay tribute, in particular, to my hon. Friend the Member for Kirkcaldy and Cowdenbeath (Roger Mullin), whose contributions are always considered and colourful. The position of the Scottish National party on the proposed trade deal has been clear and consistent, and was reached democratically by the membership of our party. I reflect the views of my hon. Friends, the membership of my party and many, many Scots when I say that we have real and legitimate concerns about a number of the proposed provisions in the trade agreement that would threaten the ability of elected Governments in Europe to act and regulate in the public interest. I will touch on those concerns later At the outset, I will address the value of international trade and foreign direct investment, which are vital to our economy. The debate on this trade agreement is not about the principles of free trade. I and my party are passionately pro-trade. Instead, this debate is about the need to achieve a balance. There must be a balance between securing opportunities for further international trade and doing so transparently, while protecting the integrity of democratically elected Governments to run public services and make decisions in the interests of the people they were elected to serve Scotland is an avowedly outward-looking and ambitious nation, and is punching well above its economic weight. According to Ernst & Young, Scotland was the UK’s most successful inward investment magnet outside London last year in terms of the number of investment projects secured. In all, 80 separate inward investment projects came to Scotland last year, almost half of which were from the United States. There is a pattern of competitive excellence. Over the past 10 years, Scotland has secured more than 37,000 jobs from foreign direct investment, making it a narrow second to London but well ahead of other parts of the UK. In the past six years, under the SNP Scottish Government, the value of international exports has increased by 40%. That is good for Scottish business, good for the Scottish economy and good for working people in Scotland. The internationalisation of Scottish business, boosting exports and attracting foreign direct investment remain key to Scotland’s economic strategy. My point is that Scotland is a proud and successful trading nation In the interests of balance, it would be remiss of me not to highlight the Conservative Government’s record on trade and exports. There were 4,000 fewer British businesses exporting in 2014 compared with the number that traded internationally in the previous year. Earlier this year, it emerged that the Chancellor has presided over the largest annual trade deficit since records began in 1948—a deficit of £92.9 billion, which is the equivalent of 5.1% of GDP at current market prices. The claim that the Government lay to economic credibility is a myth and it lies in tatters I highlight that trading record because it is important to recognise that the economic achievements of the SNP Scottish Government are characterised by an openness to trade with our partners and friends around the world. We welcome the opportunity to forge better trade links and encourage our businesses to release their international potential. However, TTIP represents better trade links at the expense of transparency and democracy, and potentially at the expense of good public services owned and managed by the public. I will address three specific concerns The first concern relates to the investor-state dispute settlement, which has been much talked about today. We have seen movement on this issue over the past few months from the European Commission, which has conducted somewhat of a rebranding exercise with its revised international court system, which replaces ISDS. Although the ICS proposals contain a number of important reforms of ISDS, the changes are nowhere near what is required to overhaul the inherently unfair system of extra-judicial rights for foreign investors. The fundamental question of why private companies require the ability to challenge public policy decisions made by democratically elected Governments remains unanswered This is not a fringe concern. Without intimating any political preference in the upcoming US presidential election, I highlight the comments of Hillary Clinton in her book, "Hard Choices". I commend it to the House—it is a great read. She says of trade agreements that "we should avoid some of the provisions sought by business interests, including our own, like giving them or their investors the power to sue foreign governments to weaken their environmental and public health rules" While I am talking about views in the US, it is interesting to note the letter of objection to ISDS, which claims that it weakens the rule of law, that was signed by eminent lawyers and academics such as Judith Resnik, professor of law at Yale, and Nobel laureate Joseph Stiglitz The SNP has repeatedly pressed the Government for an explicit exemption from the agreement for the national health service. There must be absolute clarity that although the UK is, for the time being, the member state, any decision it takes in the context of TTIP, such as opening up the NHS in England to greater private sector involvement, in no way interferes with the Scottish Parliament’s devolved responsibility for the Scottish NHS. I commend the campaigns that have stimulated public interest in the potential consequences for important public health services, particularly the People’s NHS campaign. I urge the Government to pursue meaningful exemptions for the NHS.