Many of you have been in touch with me recently about the EU - US Free Trade Agreement, also known as TTIP. I do understand the concerns people have but would like to take this opportunity to clarify a few facts as this agreement does not carry the risks that some have suggested.
First of all, underlying the agreement is the opportunity to add £10 billion to our economy every year - almost £400 per household - which means more jobs, more choice and reduced prices.
UK governments alone decide how public services, including the NHS, are run. This agreement does not change this and does not change UK laws or lower consumer, labour or environmental standards. This agreement is about helping our consumers and our businesses access new markets. Where mutually high standards can be recognised with the US they will be, but where this is not possible US businesses will have to raise their standards to meet ours, not the other way around.
There have been claims that investors could sue a government for losses and win if a government takes a decision in the wider public interest, whether on health, the environment or consumer safety. However, I'm pleased to reassure you that this could not happen. It is important that businesses investing abroad are protected from discrimination and unfair treatment, but there is nothing to allow companies to undermine public policymaking. Extensive consultation has taken place and all provisions are being looked at carefully.
I had hoped to be able to attend the debate on this issue in the House of Commons on Thursday, but unfortunately other diary commitments meant I could not. However I shall be keeping a close eye on the progress of this in Parliament.
If of course you would like to speak to me about anything please either send me an e-mail at [email protected] or give me a call on 01527 591334. As ever you can also keep up to date with my whereabouts on Twitter and on Facebook.
Best wishes
Karen