Free Trade Agreement Negotiations: Australia

Debate between Mick Whitley and Elizabeth Truss

Thursday 17th June 2021 Commons Chamber

[Elizabeth Truss]

We are expecting trade with those 11 countries to grow by 65% by 2030. The deal is a huge opportunity for the United Kingdom. The country has very high standards in areas such as digital and services where we are the second largest exporter in the world. What we have agreed with Australia also covers the market access negotiations for CPTPP, so this is very important stepping stone for those broader opportunities that are in the trans-Pacific partnership .

[Mick Whitley (Birkenhead) (Lab) [V]]

Investor-state dispute settlement clauses allow multinational corporations to take sovereign Governments to court simply for acting in the best interests of their citizens. They have been used to sue Governments for taking parts of their health services back into public control, and by fossil fuel companies to undermine vital environmental regulations. They make a mockery of the idea that we are taking back control. Will the Minister reassure the House that investor-state dispute settlement clauses will be excluded from the UK-Australia negotiations, and will she guarantee the House that there will be a full debate and meaningful vote for MPs on this and all future agreements?

[Elizabeth Truss]

I disagree with the hon. Gentleman’s characterisation of ISDS. The fact is that those clauses are in trade agreements, and we already have more than 60 ISDS clauses in various investment agreements to protect British businesses from unfair actions by overseas countries, such as the appropriation of property. Furthermore, the UK has never ever lost an ISDS case, because we are a country that follows the rules and implements our laws and regulations in a fair way. In any case, there is not an ISDS clause in the Australia trade deal.