Transatlantic Trade and Investment Partnership

Lindsay Hoyle Excerpts

Thursday 10th December 2015 Commons Chamber

[Helen Goodman]

By our right honourable Friend, this is not about the number of court cases taken; it is about ministerial action being inhibited for fear of those court cases. I had that experience as a Minister, and our right hon. Friend is barking up the wrong tree.

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Order. We need short interventions because there is a lot of interest in this debate. The hon. Member for Swansea West (Geraint Davies) is 10 to 15 minutes into his opening speech, and I would not like him to give it all away through interventions.

[Geraint Davies]

I will resist responding to the comment about barking.

On the ISDS, we know that big companies use the powers available to them to sue democratically elected Governments. For example, the Lone Pine fracking company is suing the Canadian Government for hundreds of millions of dollars because Quebec brought out a moratorium on fracking. In a well-known case, Philip Morris is suing Uruguay and Australia over tobacco packaging. The Dutch insurance company, Achmea, is suing the Slovakians for trying to reverse health privatisation. If those powers are available, corporations will use them to maximise profit. Why should they not? That is what they are there to do. I am not saying that they are immoral, because that is what they do and that is what we expect. Our job is to regulate to ensure that the public interest is put first.

There is also an issue of sovereignty. The comprehensive economic and trade agreement will last for 20 years; some people are worried about the EU, but future Governments would be bound by these rules for 20 years. I think that is wrong, and a lot of Conservative Members have raised that point with me.

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[Several hon. Members rose—]

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Order. There will be an eight-minute limit on speeches.

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[Several hon. Members rose—]

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Order. He will have to stand up, but I call Andrew Percy.