Context
The UK has signed the CPTPP accession protocol but needs to ratify it. The MP raises concerns about investor-state dispute settlement provisions allowing corporations to sue national governments.
Question
I thank the Secretary of State for her response. The CPTPP contains ISDS provisions which allow corporations to sue national Governments through a secretive system if they consider that Government policies threaten their future profits. Will the Government consider negotiating a side letter with Canada, as they already have with New Zealand and Australia, to disapply the ISDS provisions in order to ensure the UK Government's right to regulate is not constrained by powerful investors and corporations?
Answer from Kemi Badenoch
We are now trying to ratify the protocol. The Government have always been clear that when we negotiate investment protection, we do so in a way that does not hinder our right to regulate in the public interest. We already have investment agreements containing ISDS provisions with seven of the 11 CPTPP countries and we have never received a successful claim from any investors.
Not addressed: Negotiating a side letter with Canada to disapply ISDS provisions was not addressed specifically
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