- National has agreed to a deal, negotiated in secret, that fails to deliver promised economic gains, and would stop a future government passing laws in the best interests of New Zealanders.
- Labour cannot support the TPPA as it stands. We support free trade, but the TPPA is more than just a trade deal.
- In government, we will seek to renegotiate parts of the agreement that undermine our sovereignty such as the ban on New Zealand stopping foreign speculators from buying up our homes.
Labour voted against the TPPA because it cut across New Zealand’s right to pass laws in its own interests. We will continue to stand up for New Zealand, and to promote laws and policies that are in the best interests of New Zealanders.
- What the Government has agreed to in the TPPA compromises New Zealand’s sovereignty. They have been secretive and dishonest with the New Zealand public about what the deal actually means.
- Under the TPPA:
- Our Parliament would not be allowed to ban overseas speculators from buying up Kiwi homes. Other countries, including Australia, negotiated an exemption from this clause but National failed to do so for New Zealand.
- Foreign corporations could sue the government over policy changes seen as affecting their businesses.
- New Zealanders’ access to life-saving drugs could be restricted as our laws are tilted in favour of US pharmaceutical companies.
- The economic gains claimed by the government are modest, and are being shown to be based on outdated information. An independent study from Tufts University using newer information shows the TPPA would mean, at best, an increase of 0.77% of GDP in 15 years’ time.
- The same study shows the TPPA would lead to up to 6,000 job losses and a transfer of wealth from working New Zealanders to foreign corporates.
Click here to sign the petition to protect New Zealand's sovereignty.