Lady Barbara Judge, chairman of the Institute of Directors (IoD) is due to deliver a landmark speech in London on Monday during which she will say:
"I am deeply concerned that we are losing the battle on one of the central planks of western liberal democracy – that is free trade. If you, like me, believe that the free flow of goods, capital and people has been proven to be the most successful route to increasing human prosperity, then you too should be concerned."
She is due to tell her audience in the Mansion House in central London that the TTIP agreement is "in jeopardy."
The stumbling block for members of the European Parliament (MEPs) is the investor-state dispute settlement (ISDS) mechanism, which would allow companies to sue governments if their regulations or laws affected companies’ profits. MEPs have twice failed to vote the ISDS through and tabled over 100 amendments.
Industry Lobbying Behind the Scenes
Critics of the TTIP also say that the negotiations have been dominated by industry lobby groups keen to break down tight EU regulations over food safety, medicines and other major areas of trade, where the EU has tougher regulations – imposed by the European or member state parliaments.
ACTION: Email your MEP & tell them to beware a bad compromise on ISDS in TTIP — https://t.co/h5Fb48DPBf #StopTTIP pic.twitter.com/uRY4uznnJF
— Unite the union (@unitetheunion) July 6, 2015
Lady Barbara Judge will say the negotiations have proved sharply divisive, but that the benefits of an agreement "are not about abstractions."
"They are about making it easier for companies, particularly small ones, to sell their goods and services in many new markets, to give consumers more, and cheaper, choices. I believe that we must fight to win public support for this vital trade deal."
MEPs remain wary of the ISDS mechanism, which would override their powers to regulate everything from food safety to clothing and the environment. The European People’s Party (EEP) spokesperson on the international trade committee Daniel Caspary said:
"It should be in everyone's interest to facilitate cross-border investment and to protect our investors at the same time."
EPP group shadow rapporteur on TTIP, Godelieve Quisthoudt-Rowohl, warned: "It is inconceivable for us to finalize an investment partnership without our investors' legal protection by modern arbitration."
MEPs have a crucial role to play in the implementation of the agreement, as it cannot go forward without their stamp of approval.
