Thomas Cook

Debate between Grant Shapps and Chris Stephens

Wednesday 25th September 2019 Commons Chamber

[Chris Stephens (Glasgow South West) (SNP)]

Going back to the question of the £250 million, will the Secretary of State confirm that that was for credit purposes—that it was effectively in order for Thomas Cook to be able to say to the bank that it had that reserve fund of £250 million?

[Grant Shapps]

Yes. The problem was that it was never apparent that there was a package to sit behind that that somebody putting money in would support—in other words, that it was not necessarily going to save the company even then.