A New Warning About CETA

While much has already been written about the economic threats to Canada inherent in the Canada-European Comprehensive Economic and Trade Agreement currently being negotiated in secret by the Harper regime, a new development in those negotiations has come to light that will cost all of us dearly.

In a piece entitled Harper government caves in to Big Pharma, Michael McBane reports the following:

Ottawa is prepared to give the Europeans, and the pharmaceutical industry, at least part of what they asked for on drug patents – a move that could cost Canadians up to $1 billion a year.

As McBane points out, thanks to a deal brokered by Brian Mulroney in the 1980's, Canada already pays 15 to 20 per cent more than the international average for new brand name drugs; at the time, the justification was the promise by the pharmaceuticals to invest 10 per cent of R&D (Research and Development)-to-sales in Canada, a figure that has never been realized. In fact, it currently stands at only 5.6 per cent of R&D-to-sales.

Yet despite pharma's betrayal of its undertaking, Canada is once more preparing to give away more of the shop through CETA; reports indicate

Canada will extend monopoly drug patents from 20 to 21 years. This patent extension will come without any conditions. In other words, we get nothing in return for this major concession. No jobs, no research, no innovation, no benefits whatsoever – only higher drug bills.

Prime Minister Harper is found of promoting the message that Canada is open for business. What he doesn't tell us is that it is the business of plundering and pillaging, hardly the basis for a domestic economic revival.