Scott Morrison vetoes ‘rear view’ analysis of Trans-Pacific Partnership

According to an article published on February 17th, 2016 in The Guardian, http://www.theguardian.com/business/2016/feb/17/scott-morrison-vetoes-rear-view-analysis-of-trans-pacific-partnership, the Treasurer of Australia, Scott Morrison, has ruled out conducting a “rear view” analysis of the Trans Pacific Partnership, stating that the Australian government is already satisfied with its projected benefits. The only official analysis of the trade deal was conducted by the Australian Department of Foreign Affairs and Trade, but multiple consumer groups had asked for an independent review of the trade deal. According to Morrison, “The work has been done … in securing these agreements and the sceptics will always doubt the trade benefits of these sorts of deals,” and “They’re welcome to their skepticism. The government is convinced of it.” Earlier this month trade minister Andrew Robb rejected calls for a cost-benefit analysis of the trade deal after it emerged that Australia’s economy would only grow by 0.7% as a result of the agreement. An analysis done by the World Bank showed that Australia fared worse than all other countries besides the US in the trade deal. Even with this analysis, it appears that the Australian government is still very confident that the TPP will have a positive economic impact for Australia and they continue to back it.

Should Australia make a “rear view” analysis of the TPP? Do you think the TPP will benefit Australia more than projected?

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