11 JAN 2016

Transatlantic Trade and Investment Partnership (TTIP)

Underlying the agreement under the Transatlantic Trade and Investment Partnership (TTIP) is the opportunity to add £10 billion to our economy every year, which is 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, this is a misconception. 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.

More documents relating to negotiations will be made available to MPs as the process continues and a wealth of material has been published on the European Commission's website. Parliament has also had a number of opportunities to debate this agreement, will scrutinise the final agreement and ultimately has the final veto power.

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