L

Lord Hannan of Kingsclere (Con)

Speaking in the House of Lords on 20 January 2025

Debate

Colombia: Bilateral Investment Treaty

Contribution

My Lords, the arguments against the ISDS do not come just from the ecological lobby; there is a democratic argument against them, and there is an argument that they give some foreign companies an unfair advantage over domestic ones. None the less, as the Minister correctly says, they are a necessary way of attracting investment. Can she confirm that, wherever we decide to draw that balance, we should apply it consistently across all our trade deals? It would be neither credible nor sustainable to start changing them because of lobbying from one particular country, which would then encourage every other trading partner to do the same thing.

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