Monday 11 March 2013

Impact of ISA limits options

“New Zealand is one of 20 countries involved in negotiations for a new International Services Agreement” says John Ring, Foreign Affairs spokesperson for Democrats for Social Credit, “and this agreement should be opposed for a number of reasons.”

“Firstly, the World Trade Organisation is currently discussing whether its emphasis on deregulation imposes an unreasonable burden on countries that need to take steps to prevent financial crises. Any ISA should wait until the WTO debate is resolved.

“Secondly, US sources suggest that it is intended to extend the deregulatory thrust of the General Agreement on Trade in Services (GATS) at a time when some countries are still having problems dealing with the consequences of the GATS agreement.

“Thirdly, this treaty was originally proposed by the United States, which has an oversized and dysfunctional banking sector. Businesses that can do their job properly just get on and do the job, but those who can't try to use political lobbying to change the rules.

“Fourthly, the proposed agreement won't just be about banking. It could be about any services, big and small. Health, education, insurance, you name it.

“European countries will want to make it easier for their companies to take over our water supplies.

“Rules that at first glance appear to have little to do with climate change may well hinder policies that would deal with that problem.

“Finally, we must consider the impact, not just on New Zealand but on other countries too. It is not in New Zealand's interest to support agreements that might limit other countries' ability to deal with climate change, or that increase other countries' financial instability,” said Mr Ring.

ENDS

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