LOCAL jobs and services could be hit unless Bury can persuade the Government to act on the international stage.

Town hall bosses worry that foreign competitors will "steal" vital contracts if new laws come in.

Bury is supporting a resolution to this month's Local Government Association conference demanding that the Government stops negotiations on a multi-lateral agreement on investment (MAI).

This is currently being drawn up by the OECD (Organisation for Economic Co-operation and Development), which comprises the 29 richest countries, including the UK.

The agreement is designed to free up trade rules and make it easier for foreign investors to win deals.

But many councils fear that this would restrict their ability to promote their own local economies.

Mr Mike Owen, borough financial services officer, said: "We are particularly concerned that local authorities such as Bury have not been party to the negotiations behind the agreement.

"No assessment has been made of the agreement's impact on our ability to promote the economy of Bury, to implement our anti-poverty strategies or to safeguard Bury's environment from the effects of any unwelcome outside investment."

Meanwhile, organisations such as Oxfam and the World Development Movement worry that the MAI will not protect developing countries and that it might encourage low standards of environmental protection and poor labour practice.

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