Trans-Pacific Partnership Agreement: Secret deal means bad news for consumers, Choice warn

Prescriptions could cost consumers more for longer, according to Choice. Source: Getty Images

IT IS the top secret agreement which could not only lead to higher prices but will literally make you sick.

And consumer advocacy group Choice claim the Trans-Pacific Partnership Agreement (TPP) being held in Sydney tomorrow, spells bad news for Australian consumers in more ways than one.
It claims consumers have been locked out of TPP talks while businesses haven’t and documents released by WikiLeaks reveal what is being negotiated on consumers’ behalf.
According to Choice, not only can we expect higher medicine prices, but Australians should also fear new criminal penalties and the right for big businesses to sue if they don’t like consumer laws.
It also claims leaked copies of the TPP include provisions to lengthen patents for some lifesaving drugs for up to an extra 12 years and patients could be paying more for drugs for longer.
“While big business has had a seat at the table, Australian consumers have been locked out of negotiations,” Choice Campaigns Manager Erin Turner said.
“Instead, we have to rely on leaked documents to learn what is being negotiated our behalf.
“Australia has an extremely open economy with few tariffs and trade barriers, and this raises the critical question — what are we offering up in these negotiations?”
Choice is calling on the government to release details of the TPP so the public can have a transparent debate on the issue.
Ms Turner warned Australians could end up paying dearly in the long run.
“When drugs listed on the Pharmaceutical Benefit Scheme come off patent, prices drop by 16 per cent,” she said.
“If the TPP extends patents we’ll be paying higher prices for some medicines over a longer period of time.
“This is even more concerning given our latest Consumer Pulse survey results, which found 63 per cent of Australians are concerned about the cost of medicines. Concern increased to
66 per cent for people who earn $50,000 per annum or less and 67 per cent among parents.”
She added the Federal Government needed to be cautious of any agreement which put the interests of pharmaceutical companies over consumers.