Bad TPPA deal will cost New Zealanders

The Trans-Pacific Partnership Agreement (TPPA) makes it more likely that everyday New Zealanders will become tenants in our own land, while private companies snap up the limited gains of about one percent of GDP, the Green Party said today.

“The TPPA is a bad deal because the costs will be worn by everyday New Zealanders while the benefits will go to private companies,” Green Party Co-leader James Shaw said.

“New Zealanders are more likely to become tenants in our own land, because the TPPA slackens the overseas investment rules and takes away our right to limit overseas speculators from buying up our land.

“It’s becoming clear that it will be harder, take longer, and be more expensive to access next generation medicines in New Zealand and in developing countries.

“Multinational companies will be able to sue New Zealand if it takes action to protect our environment, for example strengthening the protection for the critically endangered Maui’s dolphins.

“Trade Minister Tim Groser can’t avoid the fact that the TPPA doesn’t actually break down trade barriers with markets like Canada, and it will be another 25 years before milk powder tariffs in the United States market are gone.

“Whichever way you look at the TPPA, it’s a bad deal.

“After five years of talking, Tim Groser and the National Government have failed to achieve an agreement that is in New Zealand’s best interests,” Mr Shaw said.

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