Thursday, 31 May 2018

The Social Benefit of Economic Ties " The Scope for an Australia-UK Free Trade Agreement "

https://mckellinstitute.org.au/research/reports/the-social-benefit-of-economic-ties/

" As the United Kingdom moves towards leaving the European Union, there are national conversations to be had on trade policy, which have not taken place for generations. We cannot be certain of how the different constituencies of interest groups, unions, political parties and businesses will come together in this public debate, nor the extent to which citizens will feel compelled to have their voices heard " - McKell Institute 

In a joint project between " The McKell Institute " (Australia) and "The Demos " think tank (UK) , a report on the issues of a free trade agreement between the UK and Australia  in a post britex time has been published 

The report can be downloaded at  https://mckellinstitute.org.au/app/uploads/FTA.pdf

The report recommends -   

The Australia-UK FTA must include labour provisions that further the rights and future prospects of workers in both states.

Both participants in the Australia-UK FTA must transparently and independently publicise the costs and benefits such a deal could bringsetting a precedent for future negotiations and garnering public support.

The scope must be adequate to deliver tangible benefits to both economies, and should therefore include provisions regarding trade in both goods and services, investment, and labour mobility.

The deal should not include an Investor State Dispute Settlement provision, in order to maintain transparency and generate broader public support.

Environmental safeguards should be incorporated into the deal, reflecting both Australia and the UK’s commitment to reducing emissions and improving the global environment.

The Australia-UK FTA should be used as an opportunity for both states to ensure the standards of supply chains across all industries meet a minimum standard to help eradicate global transgressions of workers rights, and end modern slavery.