Transatlantic Trade and Investment Partnership

Lord Beamish Excerpts

Thursday 10th December 2015 Commons Chamber

[Christian Matheson (City of Chester) (Lab)]

Let me say to the hon. Member for Aberconwy (Guto Bebb) that, irrespective of his views on TTIP, hon. Members and their families should have the right to security in their own homes. If he has been lobbied in his own home by protesters, I entirely deplore it.

I am in favour of free trade, which should be a good thing. It should create wealth and provide innovation in relation to jobs and markets, and it should promote existing services and products in new markets. I do not believe, however, that the proposed TTIP deal is about free trade; it is about increasing the dominance of several large globalised corporations that have no loyalty to any one particular country. Their loyalty is only to the next quarterly figures on Wall Street or the City of London.

We have talked about public services, and I believe that they will continue to be under threat unless we get a categoric response that they have been taken out. It is all being dealt with in secret, of course, so we cannot secure such a categoric response.

Let me deal with the investor-state dispute settlement, about which my right hon. Friend the Member for Warley (Mr Spellar) provided some interesting figures. There is a fundamental principle about ISDS that undermines its entire existence. We rightly preach the rule of law and democracy to the developing countries, but it would seem that it does not apply to large globalised corporations. However much I disagree with Conservative Members and however much I deplore some of their policies, the bottom line is that their party won the general election and I respect their democratic right to take its programme through Parliament. As I say, however, that democratic right does not apply to large globalised corporations.

If by some fluke on Friday night I win the Euro Lottery and buy myself a Ferrari or a Lamborghini—

[Mr Kevan Jones (North Durham) (Lab)]

Why not buy British?

[Christian Matheson]

Indeed, I shall buy myself a nice, top-of-the-range Range Rover. If the Government reduce the speed limit on the motorways to 50 mph, am I allowed to sue them because they have taken away my enjoyment in driving that car? It is exactly the same with TTIP. If the Government choose to change the law, it is their right to do so, and there should be no caveats for large corporations.