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"Expensive and irresponsible" government choice leads to massive Thomas Cook liabilities

16 December 2019

Commenting on the Official Receiver's figures, published today (Monday), which puts Thomas Cook liabilities at an eye watering £9 billion, TSSA general secretary Manuel Cortes, calls the government's role in the collapse "expensive and irresponsible".

The Thomas Cook retail staff union is repeating its call for an independent inquiry to ensure that taxpayers do not pay for the government’s failure.

Manuel Cortes, TSSA general secretary, said: "Had Thomas Cook continued trading, the vast majority of these liabilities would not exist. Customers wouldn’t need compensating for cancelled holidays and staff would still be employed.

“For around £250million, the government could have kept this British company in business and allowed space and time to restructure effectively. Frankly, as I told the House of Commons Business, Energy and Industrial Strategy Committee, allowing Thomas Cook to fold was the economics of the madhouse.

“The Conservative government’s choice to kill off Thomas Cook has proven expensive and irresponsible. They don’t care about travel industry jobs or holidaymakers; an inquiry is urgently needed into the government’s role in this failure.”

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