The UK government is expected to spend hundreds of millions of pounds on repatriating UK citizens stranded after the travel company went bust.
Boris Johnson refused to bail out collapsed travel firm Thomas Cook. The company had asked the UK government for £150 million, which the UK prime minister refused due to the"moral hazard" it would cause for other firms at risk of collapse. The company warned earlier this year that Brexit had reduced demand among UK holidaymakers. The UK government has committed to repatriating an estimated 150,000 UK tourists at a cost of hundreds of millions of pounds.
Boris Johnson refused to bail out collapsed travel firm Thomas Cook. The company had asked the UK government for £150 million, which the UK prime minister refused due to the"moral hazard" it would cause for other firms at risk of collapse. The company warned earlier this year that Brexit had reduced demand among UK holidaymakers. The UK government has committed to repatriating an estimated 150,000 UK tourists at a cost of hundreds of millions of pounds.
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