Signing The TPP Has 'Almost No Positive Benefit': Choice

The Trans-Pacific Partnership, an economic free trade agreement between Australia and 12 countries including the United States and New Zealand, has been signed by government representatives in a NZ ceremony today. It now goes in front of Parliament for review and a vote, but consumer advocacy group Choice has said it will have a minimal financial benefit at best, and will open Australia up to myriad international legal issues.

The net financial benefit of the TPP will be a tiny 0.7 per cent of Australia's GDP by 2030, a figure that Choice says is roughly equivalent to the value of six Gerry Harveys. Choice's Head of Media Tom Godfrey said in a statement: "Aussies are in for a rough ride now the TPP has been signed. Not only will the financial benefit be minimal, we've given the power to US companies to sue us for making laws to protect our community.”

The opening of economic borders and aligning of laws that the TPP includes has the potential to open Australia up to lawsuits including investor-state dispute settlement, a test case of which by US tobacco giant Phillip Morris cost Australian taxpayers $50 million in 2015. Choice says it is possible for these disputes to cost more money than the value that the TPP will add: "With the potential for more cases like this to be brought under the TPP, that 0.7 per cent benefit in 14 years may well disappear.

"It's hard to see how any output from the Federal Government department that signed us up to the deal and consistently failed to listen to community concerns will do anything but wave this through." After its signing in New Zealand, the TPP will have a National Interest Assessment conducted on it by the Department of Foreign Affairs and Trade, and Australia's Federal Parliament will have to vote on any legislation required to sign the TPP into law. [Choice]


Comments

    Well done the world is now officially truly further controlled by the greedy corporations and the 1%.

    Good job on screwing over EVERYONE.

    Whoever voted these muppets in need to take a deep close hard look at themselves.

    A re-evaluation of every FTA and this TTP should reveal nothing but harm to the Australian Public, Consumer and Worker.

    FTA's and now this should finally kill production for most things in this country as they are further offshored with nothing you can do about it.

    Watch all our so called "protections" go up in smoke.
    Work Rights - Gone
    Penalty Rates - Gone
    Super - Proberly gone
    Universal Affordable Healthcare - GONE
    Expensive healthcare - here it comes
    More under reporting of defects and corruption.

    This is now the world we live in.

    And is anyone doing anything?

    Nope...Kiwis and Aussies are indifferent to the facts as long as they get their social support and aid.

      Wrong.

      Those that were voted into parliament are refusing to listen to the people who put them in power. There have been protests country wide in NZ, with a staggering turnout in Auckland that not only shut down major motorways but also the entire main city street. People obviously do try as much as they can.

    But the actor on the radio ad said it help his fictional carpentry place. He's even had to hire more people. Why would he lie about that?

    Meanwhile, the bloke who had a vision from god that there were vast reserves of oil in the Tasmanian highlands and who threatened to sue the state government for 300 hundred billion when his exploration license expired and wasn't renewed is thinking of having another tilt at it.

    I'm betting that the one eyed and fanatical enthusiasm of the current state resource minister will not be that much of a barrier to overcome.

    When very complex international economic issues are at stake I always turn to a business that tells you which toaster to buy for answers.

    Of course is doesn't help us, Trickle down economics is a lie. this is only to benefit big business to screw us over.

    Australians apathy for their crap government are to blame. They keep voting in the same two parties and expect a different outcome. We're fucked now and we're still going to vote for the same parties.

    There is only one winner with the TPP and it's....

    HINT: It's located between Canada and Mexico.

    Strange to think about just how much damage is being done by the giant conglomerates that encompass the top 1% and not be depressed about how impotent we all are to do anything about it. We can march the streets en mass all we want, but short of a revolution, nothing is going to change. Excuse me, I have to top up my meds now

    hmmm Its funny how people pay attention to the small things but not the Big things that have been happening right before their very eyes without even knowing, because its so well covered by so many different people All taking the complete and utter piss out of everyone.
    Because the misconception of what they set out to achieve and what actually goes on isnt even close, Its about time these different companies were exposed and departments were fumigated, The White Ants are the ones eating away at the $$$ not MT.. You'll see soon enough.
    Oh and whoever came up with $50mill for PM your joking right, it's a wee bit North then that mate Like a weeeeeeeeeeeeeeeeeeee bit North haha ahhhh one day people will listen.

    Okay, everyone who is surprised please raise your hand.

    We borrow all sorts of terrible things from the US,
    We should borrow something useful.

    We should impeach our treasonous politicians.

    Hi Gizmodo/Allure/Publisher

    I just want to applaud you for your stance on the TPP. I'm impressed the Allure media collective, a group that is increasingly becoming mainstream has taken such a strong position on the TPP.

    Keep the articles coming and the pressure on. We cannot afford to let the ALP fold on this issue, especially considering that Wong has become increasingly quiet on the subject.

    The dispute resolution clauses and the lack of financial modelling of the TPP's impact by the productivity commission are the big issues the ALP for the ALP. The ALP needs to understand that the media and the public are concerned about these very issues.

    Anyway, thanks again.

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