EU might use Google fines to reduce member states' contributions
What's the story
France's Europe Minister, Benjamin Haddad, has suggested that the European Union (EU) should use the €4.6 billion in fines levied on Google, to reduce member states' contributions to the bloc's budget. "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.
Budget discussions
EU governments negotiate budget for 2028-2034
The proposal comes as EU governments negotiate the budget for 2028-2034, with talks scheduled for October, November, and December this year.
The European Commission has proposed a €2 trillion budget, or 1.26% of the EU's Gross National Income (GNI).
Of this amount, some €168 billion (0.11% of GNI) would go toward servicing the EU's borrowing for a post-pandemic recovery fund.
Penalty accumulation
Total penalties imposed on Google by EU
Notably, the latest fines have taken the total amount of penalties imposed on Google by the EU for anti-competitive practices, to a whopping €10.38 billion over nearly two decades.
In July alone, Google was fined a total of €890 million ($1.01 billion) for violating European Union rules aimed at curbing Big Tech's dominance.