Statement on TTIP to the Joint Committee on European Affairs

Congress is very concerned about the introduction of rights for companies to launch a suit for financial compensation if a government introduces rules that could have an impact on the company profits. We are strongly opposed to the inclusion in TTIP of the Investor State Dispute Settlement and we would want to see the parliament send a clear and unequivocal message that it should be removed. This proposal is an affront to democracy insofar as it allows investors to sue governments in secret courts composed of corporate lawyers, at which other people have not representation, for compensation over national laws or rules that affect their activities. We believe that adherence to the fundamental human rights set out by the UN’s tripartite body for work issues - the eight core conventions of the International Labour Organisation - should not only be a key part of the Sustainable Development chapter of TTIP, but should apply to all elements of the agreement and that adherence to the
Sustainable Development chapter should be binding and enforceable.