Underlying the agreement is the opportunity to add £10 billion to our economy every year, which is almost £400 per household, which means more jobs, more choice and reduced prices.
This trade agreement does not change UK laws or lower consumer, labour or environmental standards. This agreement is about helping our consumers and our businesses access new markets. Where mutually high standards can be recognised with the US they will be, but where this is not possible US businesses will have to raise their standards to meet ours, not the other way around. This is one of the main aims of TTIP to remove, where possible, regulatory differences between the EU and US without lowering levels of protection. This will help small businesses which lack the scale to be able to easily deal with differing standards in the EU and US.
The Government has made clear that there is no threat to the NHS from TTIP. It will not change the way the NHS, or other public services, are run. This has also been confirmed by the chief negotiator who outlined that public services are automatically excluded, publically funded health services are specifically excluded.
There have been claims that investors could sue a government for losses and win if a government takes a decision in the wider public interest, whether on health, the environment or consumer safety. However, this is a misconception. It is important that businesses investing abroad are protected from discrimination and unfair treatment, but there is nothing to allow companies to undermine public policymaking.
More documents relating to negotiations will be made available to MPs as the process continues and a wealth of material has been published on the European Commission's website. Parliament has also had a number of opportunities to debate this agreement and the Labour Party and members of other political Parties have been supportive but all MPs will scrutinise the final agreement and ultimately have the final veto power.