Euro rebate demanded
ONE of East Devon s euro-MP s has demanded that �500 million in fines collected from IT companies be dished out to help out the UK s ailing economy.
ONE of East Devon's euro-MP's has demanded that �500 million in fines collected from IT companies be dished out to help out the UK's ailing economy.
Conservative economic committee member Ashley Fox MEP said that the European Commission was 'hoarding several billion Euros' raised from companies such as Intel and Microsoft following 'anti-competitive' practices.
He is calling for the United Kingdom to be given a share of the cash, instead of being held as a surplus by the European Commission.
Commissioner Designate Almunia said the money would be held as part of the EU budget and only the remaining surplus would be redistributed.
You may also want to watch:
If the UK was to receive a share of around 10 per cent this would amount to about �500 million.
Mr Fox said: "(The money)...should ideally be returned to those consumers who have paid over the odds...
- 1 Exmouth candidates gear up for county council elections
- 2 Tribute paid to former town manager Suzy
- 3 Exmouth social group Friends UK set to resume meet ups
- 4 Candidates ready for elections in Exmouth and Budleigh Coastal ward
- 5 Promising signs for Town’s young footballers
- 6 Sand movement forces change of launch location for Exmouth lifeboat
- 7 Mixed views on future development in East Devon
- 8 Exmouth’s final goodbye to ‘RNLI stalwart’ Tim Mock
- 9 Changes to polling stations for upcoming elections
- 10 Brixington Blues keep marching on
"(But)...as this would be virtually impossible to implement the best alternative is to return the money to the member states.
"Given the current financial predicament...the government should demand that its share of the money is returned..."