Matt McCarten: Foreign corporates set to mine us for profit

Richard Prebble and Roger Douglas. Photo / NZ Herald

Multi-national corporate greed is like rust, it never sleeps. Their bandit representatives were at it again this week wheeling and wheedling to get their agenda into the small print of the cuddly titled Trans-Pacific Partnership (TPP).

Appropriately, the negotiations took place at the SkyCity Casino where everyone wants to make a quick buck.

The TPP between the US, Australia, Brunei, Chile, Malaysia, Peru, Singapore and Vietnam is now at round four. The TPP is misleadingly dubbed as a "free trade" treaty that will supposedly open up new markets. It's nothing of the sort.

These negotiations aren't about trade; they're about giving overseas corporates a guaranteed protection of their overseas investments. The proposed TPP isn't just restricted to shares in a company.

Under discussion is the intention to extend TPP to guarantee investments in residential and commercial property, mining concessions, banks and finance companies, and intellectual property rights. It will likely cover private contracts to run prisons, hospitals and schools as well.

Auckland law professor Jane Kelsey, who is heading up the TPP opposition, says multi-nationals are determined to get the TPP to allow unrestricted investments of any sort in addition to an unfettered right to move money in or out of a country, including profits.

The corporate lobbyists insist on the inclusion that governments must consult corporates on any new policies that might affect their investment and afterwards explain what notice they took of that advice.

More brazenly, they want any government to forfeit the right to introduce laws or policies that reduce the value of their investment without full compensation. They also want the right to sue for compensation before secret international tribunals.

Essentially, foreign corporates are requiring the TPP to give them iron-clad guarantees to make profits and more power over a government than its citizens could ever hope for. It's breathtakingly arrogant and sinister.

And don't think these corporates are bluffing. Under NAFTA, which this TPP is based, tobacco giant Phillip Morris sued the government of Paraguay for trying to put a levy on cigarettes to cover smoking-related health costs.

Similar cases have included suing to re-start a toxic waste dump, and removing plain packaging of cigarettes. So far US$326 million ($435m) has been paid by governments to corporates in compensation. Even a community that tried to get rid of its foreign water supplier because of its non-delivery lost.

We know exactly where all this is heading in our country, don't we?

John Key, a successful corporate speculator himself, has announced that if the National Party is elected again then he'd see that as a mandate for selling off the rest of our public assets.

This is in addition to forming Public Private Partnerships (PPPs) to build roads, public transport, prisons and just about anything else corporates can make a guaranteed profit from. Corporates will run these PPPs of course with a built-in, generous profit courtesy of the taxpayer. Easy money if you are big enough to play.

Under the proposed TPP this corporate theft will be legally protected from any future government. When our grandchildren grow up and realise that it has all been a grand con job they'll have to lavishly compensate these corporate investors to undo it.

Be warned. Our heritage and democracy is about to be sold to foreign corporate bidders.

If the TPP corporate advocates get their way, we will not only have sold our birthright but sold out our future generations, too. Twenty five years ago we know we should have fought Roger Douglas, Richard Prebble et al, a lot harder to save our country from being sold off bit by bit.

What's our excuse this time?

Patriots should go to TPP.com to start preparing themselves for the up coming battle to save our nation.