- Date published:
7:28 am, October 6th, 2015 - 161 comments
Categories: business, capitalism, Economy, International, john key, Minister for International Embarrassment, national, national/act government, same old national, us politics - Tags: tim groser, TPPA
The deal has been done. We are told that it is the best thing since sliced bread although we are not allowed to know the details.
Tobacco companies will not be allowed to use the investor state resolution procedure which is a good thing. All other industries will however which is very bad. Stand by for the lawyering to start.
Dairy will have a minuscule increase in the amount it can export. Milk powder access will be phased in over 25 years. Fran O’Sullivan describes Groser’s analysis of the deal as putting fois gras on a number of dead rats.
There is to be a new Pharmac process for the selection of drugs. The cost to Pharmac is $4.5 million in the first year and increases by $2.2 million each year. There will be an increase in the cst of drugs but the amount is unclear. John Key is trumpeting that there will be no further cost to consumers of medications. He appears to not understand that as taxpayers we will be paying more.
Tony Veitch summed things up well in open mike:
It is with considerable regret that I have to inform the New Zealand public that its democracy contracted a wasting disease overnight. Dissolution is inevitable, but the disease is likely to be a protracted one. There is no known cure, once infected, except by really radical surgical means, which will, unfortunately, not be undertaken in the near future.
At the moment, the patient is seemingly doing well, but this insidious disease will progressively sap the sovereignty from the body corporate, until only a skeleton remains.
Update r0b: Another minor detail:
The threshold above which an investor must get approval from the Overseas Investment Office will increase form $100 million for all countries except Australia, to $200 million for TPP countries. Australia gets more favourable treatment. The deal will prevent the Government banning nationals from TPP countries from buying property in New Zealand.