EURO MPs are due to vote on a toxic trade deal with Canada tomorrow that could see Britain subject to corporate courts decades after it leaves the EU.
The Comprehensive Economic and Trade Agreement (Ceta) — cousin to proposed EU-US deal TTIP — hands power to transnational companies to sue governments that pass laws affecting their real or imagined profits — such as the minimum wage or health and safety rules.
Despite mass opposition stalling TTIP, tens of thousands of US firms with subsidiaries in Canada would get back-door access to the unaccountable corporate courts.
Global Justice Now director Nick Dearden said: “This trade deal has very little to do with trade, and everything to do with handing corporations a frightening raft of new powers with which to alter laws and regulations to their benefit.
“We’re just emerging from a referendum where ‘taking back control’ was the dominant rallying cry, and yet here we are with politicians handing over more control to unelected and unaccountable multinational corporations.
“Millions of people across Europe have clearly stated that they want this toxic trade deal to be scrapped, and it would be a travesty for democracy on Wednesday if MEPs ignore them.”
Ceta would still need to be approved by all the EU’s national parliaments before it comes into force. But if it is ratified before Britain leaves the EU Article , a part of Ceta would lock Britain into the deal for 20 years after leaving.
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