Big Tech Spending Big on EU Lobbying, Watchdogs sayReading Time: < 1 minute
Two watchdog groups say global tech giants are spending nearly EUR 100 million every year – the biggest lobby spend for any industry – in an attempt to to influence digital regulations within the European Union, rules that could cut into their business.
That’s according to a study of where and how money is spent by lobbyists to the EU by Corporate Europe Observatory and LobbyControl. According to their survey of lobbying activities, Microsoft, Facebook Google, and are each spending millions of euros – EUR 5.25m, EUR 5.5M and EUR 5.75m, respectively – making them the three biggest spenders when it comes to lobbying against digital legislation in Europe that could curtail some of their power.
That activity comes at a time when EU lawmakers are debating regulation on digital businesses through two draft laws – the Digital Services Act and the Digital Markets Act – to enact stricter legislation against those companies, which are believed to yield massive influence upon European markets.
The watchdog groups have pointed out that those tech giants use their “firepower” to advance industry arguments and squelch critical voices in terms of pending legislation, and say that “big tech” firms are involved in 75% of the European Commision’s consultation meetings on those matters.