Let's first see if the actual government follows suit - this is just a call by Parliament. And even if the government follows suit, we'll have to see how long it will take and how well they will do it.
France and Germany are already taking steps and have deployed a significant systems. Dutch parliament gave a strong signal to the Dutch government to also move in that direction.
The government has no plans to move their spending from Microsoft to European businesses. On the contrary, they are still very likely to move more systems into O365.
I wonder if this would be a favorable time for someone within the EU to pursue MS with regards the windows user account being tied to an online account unless you jump through unofficial (or at least hidden) hoops. In the context of a business/office I doubt it's a big issue, but it'd be interesting whether there's any angle that businesses or individuals should be able to run their computers independently. There's been a strong distaste for the compulsory online user account for years now, although knowing luck if forced MS would find a way to only comply within territories they have to rather than making it a basic opt-in for all users wherever they live.
But still a good first step.