Witter / ? TTIP: Beware the treaty's empty economic promises - opinion - 02 November 2014. Politicians promise a bonanza of growth and jobs from the world's biggest ever trade deal, but their claims are based on biased models, warn two political economists SUPPORTERS of TTIP claim the agreement will deliver much-needed growth and jobs. Karel De Gucht, the outgoing EU trade commissioner, described it as "the cheapest stimulus package you can imagine". To UK prime minister David Cameron it is a "once-in-a-generation prize".
At the centre of this rhetoric lie various claims about the economic impact of TTIP. These are taken from economic models produced at the behest of the European Commission. They estimate that the deal will generate an extra €119 billion of GDP annually for the EU, or €545 for each family of four, by 2027 (€95bn in total and €655 per family in the US). Not only are these figures very modest, they are fundamentally misleading. Firstly, much criticism has been directed at the kind of modelling used. These biases are evident in the TTIP models. Promoted Stories.
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