Matthew Lynn Matthew Lynn

Apple has struck a blow against the EU’s out-of-control federalists

European commissioner for competition Margrethe Vestager (Getty images)

A massively profitable American technology giant that pays small amounts of tax on vast profits, while massively over-charging for products that quickly become obsolete. Apple is a hard company to love, and an unlikely champion of anything apart from its own bottom line. And that might explain why many people instinctively cheered when the European Union slapped a massive 13 billion euro (£11.8bn) tax bill on Apple. Surely it was about time the company was cut down to size?

Well, hold on. It now turns out the EU was wrong. The General Court of the EU today overturned the decision after the Irish (and Apple) appealed against it. It will probably go up to a higher court. For now, however, the EU, and especially its star commissioner Margrethe Vestager, who has been leading a one-woman campaign against the American tech giants, have been exposed as dangerously out-of-control. In truth, even if 13 billion euros is a lot of money – which it is – this is about far more than just tax.

Matthew Lynn
Written by
Matthew Lynn
Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’

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