Transatlantic Trade and Investment Partnership

Baroness Jones of Moulsecoomb Excerpts

Tuesday 18th November 2014 Lords Chamber

[Lord Livingston of Parkhead]

Given the scale of investment by our two countries, it is appropriate that companies of all sizes have protections. It is also important that we create the right sort of clause for the future. We should not have two classes of country: ones with which we have ISDS clauses, because we do not trust their legal systems, and those with which we do not. It is important to establish the right sort of clause with the US, which, as the noble Lord says, is a stable democracy, that we can then roll out to the rest of the world, making sure that we have the rule of law.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, can the noble Lord assure the House that there will be no lowering of current EU standards on things like air quality, water quality, employment standards or animal welfare by virtue of TTIP negotiations?

[Lord Livingston of Parkhead]

The President of the EU, President Barroso, has made it very clear that TTIP is not about lowering standards. It was much the same with the single market which did not, I believe, create lower standards. EU laws and fundamental rights are going to be protected as part of these discussions and in discussions with the US. The US is not seeking to change that, although it regards some of the EU regulations as being too low and it also worries about similar matters.