The UK's new trade strategy says it will continue inserting controversial corporate courts into its trade deals. At this very moment, the government is negotiating an investment treaty with India that will include this secret weapon for mega-corporations.
The decision rows back on strong concerns about investor-state dispute settlement (ISDS) that Labour raised when in opposition, saying that ISDS threatened “the NHS, the environment and workers’ rights” and welcoming the UK’s exit from the Energy Charter Treaty.
Giving foreign investors the power to sue for billions of pounds of public funds, for making legitimate policy changes, is an affront to democracy .
As they legislate over everything from phasing out fossil fuels to managing our water utilities, our representatives must be free to act in the public interest – not be held to ransom by unaccountable corporations.
Maintaining the threat of these corporate claims also deters or punishes global south countries’ climate action and policies to protect human rights.
As it sets out its stall on trade, help us make the UK finally call time on corporate courts: by committing to no ISDS in future trade agreements and to review it in existing deals.
Photo: Jonathan Goldberg