Tech firms have allocated almost €100 million to lobby the EU over the past year in an attempt to counter new tough laws regulating their activities, with Google, Facebook and Microsoft laying out the most cash, a study has found.
The paper, published by Corporate Europe Observatory and LobbyControl campaign groups on Tuesday, revealed that the annual spending on lobbying on EU digital economy policies has reached a whopping €100 million ($114.4 million).
More than 600 companies have been involved in such activities, with at least 20% of them being US-based, the authors said after analyzing data submitted by the market players to the EU Transparency Register before mid-June 2021.
The biggest spender among them was Google, which invested €5.75 million into various lobbying activities. Facebook and Microsoft weren’t far behind, at €5.5 million euros and €5.25 million respectively. The Top Six were rounded out by Apple at €3.5 million, Huawei at €3 million and Amazon at €2.75 million, according to the paper.
💰New research exposes Google, Facebook, Amazon and Apple’s pushback on new EU regulations.
— CEO (@corporateeurope) August 31, 2021