EU should use Google fines to cut member state contributions to budget, France says
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PARIS, Sept 29 : The European Union should use the proceeds of the billions of euros in fines imposed on Google to reduce the contribution of member states to the EU budget, France’s Europe Minister Benjamin Haddad said on Tuesday.
• “This is a new revenue source for the European Union — worth €4.6 billion — that should automatically lower the contributions of all member states,” Haddad said in an interview with Franceinfo TV station.
• EU capitals are divided over both the size of the budget and spending priorities.
• Google was fined a total of €890 million ($1.01 billion) in July for flouting European Union rules aimed at reining in the power of Big Tech.
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• The recent fines pushed the total penalties imposed on Google by the EU for anti-competitive practices to €10.38 billion over nearly two decades.
• EU governments are negotiating the budget for the 2028 to 2034 period, including at summits in October, November and December in an effort to secure a deal before year-end.
• The European Commission has proposed the budget should amount to €2 trillion or 1.26 per cent of EU Gross National Income, of which some €168 billion, or 0.11 per cent of GNI, is to service the EU’s borrowing for the post-pandemic recovery fund. ($1 = 0.8806 euros)
Source: Reuters
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