Sinn Féin spokesperson on Enterprise, Trade, and Employment, Louise O’Reilly TD, has said the Tánaiste’s unconvincing defence of the CETA trade deal in an Oireachtas Committee this morning should be another warning for the state not to ratify the outstanding Investor Court System aspect of the deal.
Teachta O’Reilly said:
“This morning the Oireachtas Committee on Enterprise, Trade, and Employment finally had the opportunity to question the Tánaiste, Leo Varadkar, regarding the CETA trade deal.
“Beyond the trade aspects of the deal, which are already operational, the Tánaiste delivered an unconvincing performance in defence of the outstanding aspects of the agreement, namely signing up to a special Investor Court System.
“Before the Committee even began it was apparent that the Tánaiste was on unsteady ground in his defence of the Investor Court System evidenced by his failure to provide members of the Committee with a copy of his opening statement.
“Throughout the hearing the idea that a special Investor Court System is needed was debunked by a number of Committee members. Indeed, European, and international evidence was provided to show that CETA’s Investor Court will cause a regulatory chill as Governments refrain from introducing legislation, or water it down, due to legal threats by industry.
“The fact is the majority of TDs know that the Investor Court System is wrong and that it will have a regulatory chill effect, but they are afraid to push back against the EU Commission on this who have been the drivers of the deal.
“As a state we should not be afraid to reject the Investor Court System aspect of CETA and tell the EU Commission that we support the trade aims of the deal, but we do not accept a special investor court.”