American Marconi Wireless News - EU lawmakers want to tax Big Tech to fund budget

The EU is facing one of its biggest battles this year over the 2028-2034 budget, which the executive set at two trillion euros ($2.3 trillion).

Fierce negotiations are expected between the European Parliament and member states, especially over where to find extra money that governments are reluctant to chip in.

As they scramble to agree on the budget by the end of year, EU lawmakers proposed that some funding could come from a "digital levy".

"We believe that technological giants are making a lot of good business in Europe and also significant profits," said Siegfried Muresan, the EU lawmaker who will lead negotiations on behalf of parliament.

"It is therefore justifiable that they contribute in form of taxation to the budget of the European single market which enables them this business here," said Muresan, who belongs to the biggest conservative grouping, the EPP.

The parliament's budget committee is currently negotiating on their position and is expected to vote on the text on April 15 before a vote by all EU lawmakers later this month, Muresan said.

The centre-left socialists and democrats group has called for a tax on online gambling to finance an increase in spending, said socialist lawmaker Carla Tavares, who leads the budget talks with Muresan.

The European Commission wants to increase the budget to two trillion euros from the previous 2021-2027 budget, which was worth around 1.2 trillion euros.

Parliamentarians want more money for critical sectors including agriculture.

But they face a big hurdle since EU countries must approve any such measures unanimously.

The future budget also includes setting aside around 168 billion euros to repay the EU loan taken out during the coronavirus pandemic.

P.M.Smith--AMWN