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 Man left with serious injures after crash on Woodbury Common
- 2 Judges and lawyers pay tribute to 'simply the best' Anna
- 3 Tributes to man who saw town's marina through transition
- 4 Drink spiking crackdown after needle attack - Devon Police
- 5 Appeal goes out to patients as Devon's health service buckle under pressure
- 6 Lifeboat crew plan bumper fireworks display fundraiser
- 7 Early detection increases chances of successful treatment
- 8 Friends remember Alison as cancer support fund grows to £40,000
- 9 East Budleigh 'B' continue their unbeaten snooker start
- 10 '9 to 5' smash hit musical about to come your way
"(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..."