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website: http://socialistaction.ca François Lenoir / AFP / Getty Images investors against sovereign governments and their citizens.
CETA would have grave consequences for the Cana dian economy and workers. In the first academic study on CETA, economists Pierre Kohler and Servaas Storm show that Canada would lose 23,000 jobs between now and 2023. Using the credible methodology of the United Nations Global Policy Model, this study depicts the flows of non-scientific reports commissioned by the EU and the Canadian government. It shows that: (1) tax income will decrease by 0.12 per cent of GDP, as countries would reduce corporate taxes to compete for investment. (2) Workers will lose $2,656 per per son over seven years. (3) Canada’s GDP would fall 0.12 per cent.
Economist Jim Stanford finds that the trade deal would make Canada’s current trade imbalance with the EU incrementally worse. According to Stanford, “the growing bilateral deficit and resulting decline in net demand for Canadian-made automotive products arising from this widening bilateral deficit will nega tively affect Canadian production, investment, and employment opportunities.” And, under CETA, drug costs to Canadians are estimated to increase by be tween $850 million and $1.6 billion annually.
CETA is very undemocratic. Public consultation about the deal was very limited and the text of the agreement was released late, which severely limited