Vic Govt does what Turnbull should have – Independent economic modelling on CPTPP released

The Victorian Government has stepped in where Turnbull failed and released independent economic modelling so the community can better understand the benefits of the new Comprehensive and Progressive Agreement for Trans Pacific Partnership (CPTPP).

Labor welcomes the Victorian Government’s intervention.
This is important work.
At the moment trade agreements are negotiated in secret. This adds to community scepticism about the benefits of trade.
The only assessment the Federal Government undertakes is a National Interest Analysis prepared by the people who negotiate the agreement.
That’s not good enough.
If we want people to support open markets, then government has to be more open.
That means getting the agreements independently assessed so Australians can understand the economic benefits as well as any risks.
That’s why Labor has said that we will commission independent economic modelling for trade agreements and release it to the community before agreements are signed.
This is a practical, common sense way to address some of the scepticism that often surrounds these agreements.  
It’s not just Labor who thinks this is a good idea, it’s also been backed by:

  • Tony Abbott – who commissioned independent modelling of Australia’s trade agreement with Korea.
  • Liberal members of the Joint Standing Committee on Treaties, who assess trade agreements
  • Liberal members of the Joint Standing Committee on Trade and Investment Growth
  • The Australian Chamber of Commerce and Industry
  • The Harper Review
  • The Productivity Commission
  • The Minerals Council of Australia

Turnbull is ignoring industry, his own MPs and his own experts by refusing to do this.

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