Thursday, October 17, 2024

Adrian Weckler: Stop thinking of Ireland as poor and celebrate our big tech bounty

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People in the street might not feel it, but Ireland is a wealthy country — our national budget surplus this year was almost embarrassingly large

For all of their existential sins, tech giants have given Ireland a massive financial cushion

In a few weeks, Ireland’s data protection regulator is due to announce yet another large fine, this time on LinkedIn. The amount is expected to be about €400m. This would take the amount that big tech has been fined over the last three years to bring to almost €3.5bn, €2.5bn of which has been on Meta companies (Facebook, Instagram and WhatsApp).

So far, just €90m of this cash has been handed over, with the appeals on the rulings under way.

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