Viewing articles in Portfolio:

Finance and Trade

Filter Articles

Senate motion on WTO emergency powers to save Port Kembla steel industry

The Abbott government will be asked to activate World Trade Organisation emergency powers to save the Port Kembla steel industry if a motion before the Australian Senate is passed.

The motion, to be debated on Thursday 10 September, has been moved by Greens NSW Senator Lee Rhiannon and Victorian independent Senator John Madigan. Full wording of the motion is below.

Greens NSW Senator Lee Rhiannon said, "We have introduced this motion as the Abbott government is dragging the chain on dealing with the crisis facing the Illawarra.

Read more

Labor should not pass a China trade agreement that includes ISDS

Greens spokesperson for Trade, Senator Peter Whish-Wilson, is calling on Labor to refuse to pass the China-Australia Free Trade Agreement (ChAFTA) while it still contains an open-ended Investor-State Dispute-Settlement (ISDS) provision.

Today on morning radio, the Labor Shadow Treasurer, Chris Bowen, said, “We want to see the China Free Trade Agreement implemented… Those concerns can be dealt with by the Government… They don't need to reopen the agreements, the agreement with China. They don't need to go back to Beijing and renegotiate.”

Read more

Government’s Free Trade Agreement rhetoric an insult to the collective national intelligence

Greens spokesperson for Trade, Senator Peter Whish-Wilson, says the Government’s sales pitch for the China Australia Free Trade Agreement (ChAFTA) is reaching hysterical levels.

Senator Whish-Wilson said, “Treasury wrote in the 2010 Blue Book that ‘the potential benefits of the Free Trade Agreements currently under negotiation [like ChAFTA] have been oversold and the negatives largely ignored,’ and this is exactly what we are hearing from the Government today.

Read more

New TPP leak shows the US still trying to make Australia take its bad medicine

Today’s leak of the Intellectual Property (IP) Rights Chapter of the Trans-Pacific Partnership text from 11th May 2015 reveals the persistence of the US in pushing Australia to adopt rules that will push up the cost of medicines, said Trade spokesperson for the Greens, Senator Peter Whish-Wilson.

Knowledge Ecology International has uploaded a leaked section of the chapter here.

Read more

NZ Prime Minister says TPP will cost governments more in medicine price rises

The New Zealand Prime Minister has admitted that the Trans-Pacific Partnership (TPP) will result in longer patent lengths meaning that medicines will be more expensive for longer, meanwhile the Australian government continues to deny that this is the case.

Greens spokesperson for Trade, Senator Peter Whish-Wilson, is calling on the Australian Government to be up front with the public and be honest about the fact that the TPP is going to increase the cost of medicines to the Australian tax-payer.

Read more

Labor’s trade stance is appeasement, not opposition to the TPP and ChAFTA

The Greens spokesperson for Trade, Senator Peter Whish-Wilson provides the following comments on Labor’s recent statements on Australia’s trade agreements.

Senator Whish-Wilson said “Labor’s statement today that they would try and unwind Investor-State Dispute Settlement (ISDS) provisions from existing trade agreements is an abrogation of responsibility that it was Labor’s votes in the Senate that passed these agreements into law.

Read more

Senate Inquiry finds that Trade Agreement negotiation process is broken

The Greens spokesperson for Trade, Senator Peter Whish-Wilson, says the Senate report into the Commonwealth’s treaty-making process vindicates the stance the Greens have taken on these agreements over previous years.

Senator Whish-Wilson said, “These ‘trade deals’ aren’t what they used to be. It’s no longer simply about tariffs and quotas, or trading commodity exports for manufacturing imports. These modern agreements now cover every aspect of public policy.

Read more

Greens motion for Royal Commission into misconduct in the financial services sector rejected by Senate

Today the Senate voted against the motion lodged by Greens Finance spokesperson, Senator Peter Whish-Wilson, calling on the government to establish a Royal Commission into misconduct within the financial services sector.

Senator Whish-Wilson said, “It has taken one Senate Inquiry into ASIC, many brave whistle-blowers and some dogged investigative reporting by Fairfax newspapers to reveal systemic abuses and misconduct within the financial services sector.

Read more

TPP is coming to Australia. Will the Labor leadership help stop this dud deal?

The Greens spokesperson for Trade, Senator Peter Whish-Wilson, says that now the major hurdles in the US Congress have been cleared the trans-national negotiations will quickly come to their final conclusion. With Bill Shorten yesterday telling Labor caucus that he wouldn’t block the anti-worker China FTA, the question remains will the Labor leadership help block the anti-democratic Trans-Pacific Partnership?

Senator Whish-Wilson said, “There is no longer any doubt that the TPP juggernaut is coming to Australia.

Read more

Greens' statement on the China Australia Free Trade Agreement

Greens spokesperson for Trade, Senator Peter Whish-Wilson, provides the following comments on the newly signed China-Australia Free Trade Agreement (ChAFTA)

Senator Whish-Wilson said, “Regardless of the supposed marginal economic benefits, the Greens will never support an agreement that makes future governments liable to be sued by foreign corporations simply for making laws that protect the public interest.

Read more