We will lose the right to regulate and legislate in the most appropriate ways.

A:

The most serious problem is that democratically elected New Zealand governments will lose the right to change laws and policies in ways they (and we) think appropriate - and can face legal challenges from foreign governments and corporations if they try to do so.

Assurances that governments retain the right regulate for the public benefit are misleading. In fact, every time the government weakens its regulation, that risks getting locked in for the future. This poses particular problems in New Zealand, where risk-tolerant light-handed regulation has become the norm. Finance company collapses, leaky buildings, workers’ deaths in the mines and forests, show how vital it is to preserve our sovereignty.

It is impossible to predict the regulations that New Zealand will need in decades to come, especially in responding to the crisis of climate change, disruptive technologies, financial volatility, societal changes and economic transformation. Handcuffing future government regulation through the TPPA is dangerous.


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