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Thomas Cook: Insolvency

Department for Transport written question – answered on 31st October 2019.

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Photo of Baroness Doocey Baroness Doocey Chair, Finance Committee (Lords)

To ask Her Majesty's Government what estimate they have made of the costs to the public arising from the collapse of Thomas Cook as a result of (1) the repatriation of passengers, and (2) the loss of tax revenues received from the company.

Photo of Baroness Vere of Norbiton Baroness Vere of Norbiton Parliamentary Under-Secretary (Department for Transport)

The costs of the repatriation are not yet finalised, but we are seeking to minimise the impact on government and taxpayers by recovering costs where appropriate through the ATOL scheme, credit card companies and travel insurance.

HMRC does not comment on the tax affairs of identifiable businesses.

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