As MEPs prepare to vote on whether or not to
ratify a controversial trade deal next week, Green MEP Molly
Scott Cato has warned the UK could find itself in the ‘worst of
all possible worlds’ if the UK sign up to the
deal.
The Comprehensive Economic Trade Agreement
(CETA) is a trade agreement between Canada and the EU, which
Greens say gives too much power to corporations while putting
public services and workers’ and consumer rights at risk and
threatens environmental regulation
[1].
But now Dr Scott Cato says that a new House of
Commons briefing confirms that when the UK leaves the EU, it
could be forced to renegotiate its
trade agreements with Canada yet still be bound by the treaty for
20 years [2]. She said:
“One of the key reasons Greens have opposed
CETA is because of the power this treaty gives to corporations to
sue governments over legislation that threatens their profits. If
CETA is ratified before the UK exits the EU, we will need to
renegotiate our trade agreements with Canada but still be bound
by the investor protection provision aspects of this treaty for
20 years. This would mean foreign investors would still have the
right to sue the UK government if they feel their businesses have
been impacted by new laws or
regulations.
“Signing up to CETA is the worst of all
possible worlds for the UK. It will take us back to square one on
trade negotiations with Canada but trap us in a most toxic
element of this
treaty. With Brexit
looming it is even more critical that all British MEPs vote this
dodgy deal down next week in the European
Parliament.”
Ends
Notes
[1] http://ttip2017.eu/blog/id-12-reasons-the-greenefa-group-are-opposed-to-ceta.html
[2] http://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-7492
Molly Scott Cato is the first elected
Green MEP for the South West of England and Gibraltar and is one
of 50 Green/EFA MEPs in the European Parliament. She sits on the
Economics and Monetary Affairs Committee, special committee on
tax and the Agriculture and Rural Development Committee.
