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Government 'Mired In Dogma' Over Thomas Cook - Cortes

14 October 2019

TSSA General Secretary, Manuel Cortes, has accused the Government of being "mired in dogma" after it emerged Ministers had ample opportunity to save Thomas Cook but instead allowed the travel firm to go under for ideological reasons.

ITV News has revealed that ‘the decision to allow Thomas Cook to fail was ideological’ - after seeing a copy of the ‘commercial proposal’ the firm’s bosses submitted to government asking for help.

This asked for up to £200m of taxpayers' money to recapitalise the firm. Thomas Cook bosses were clear this was not a bailout but a plan which would leave Thomas Cook debt free and solvent.

Commenting on the ITV Report – Manuel Cortes said: “It’s now clear that what I have been saying all along is true – the Government could easily have intervened to save Thomas Cook but chose not to.

“They did nothing because they are mired in dogma, and we now have the proof. Their mad non-interventionist ideology – central to the way this Conservative Government thinks – ignored the fact that this was not a bailout.

“Boris Johnson had the cheek to speak of Thomas Cook being a ‘moral hazard’ whilst knowing full-well that this was a reasonable request for help that would have saved at least 9000 jobs and stopped the repatriation of over 150,000 holidaymakers.

“Let’s not forget that Fosun – a major private investor – was still happy to back Thomas Cook to the tune of £450m. At the same time the British Government allowed dogma to get in the way pf common sense and good business sense.

“This left British taxpayers footing the bill for the Thomas Cook’s collapse – a total which is likely to be close to that which the Company sought to keep it solvent for the long term-term.

“Losing Thomas Cook, one of the great British High Street brands, was an unnecessary act of self-harm conjured by the Government’s ideological blindness.”

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