Google and Meta: Profits

Department for Business, Energy and Industrial Strategy written question – answered on 18th July 2022.

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Photo of Baroness Stowell of Beeston Baroness Stowell of Beeston Chair, Communications and Digital Committee, Chair, Communications and Digital Committee

To ask Her Majesty's Government what recent assessment they have made of the excess profits generated by (1) Meta, and (2) Google, in the UK from online advertising; and whether they will direct the Competition and Markets Authority to update their calculations in the Online platforms and digital advertising study, published in July 2020.

Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Government has no plans to direct the Competition and Markets Authority, which is an independent regulator, to update the calculations in its online platforms and digital advertising study. However digital competition is a priority for the Government as shown by our plans to address the far-reaching power of the biggest tech firms, through a new pro-competition regime for digital markets as reaffirmed in the consultation response published on 6 May.

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