Thomas Cook

Debate between Grant Shapps and Kevin Hollinrake

Wednesday 25th September 2019 Commons Chamber

[Grant Shapps]

The hon. Lady confuses two points. It is absolutely true, as I have said many times, that we need a new administration regime, but the fundamental difference that she refers to in the Scandinavian and German examples is the profitability of the underlying business there due to the different influences in their particular markets and the way that the businesses have been run at that sub-level.

[Kevin Hollinrake (Thirsk and Malton) (Con)]

Does my right hon. Friend agree that we should always be cautious about bailing out private sector businesses, particularly ones that are £1.9 billion in debt and struggle to make money even in a good year? We should also look at our competitions policy and try to avoid businesses getting so big that when they fail, they have a widespread effect on UK consumers.

[Grant Shapps]

My hon. Friend makes a very good point. We do get back to this fundamental point that I know is causing some concern on the Opposition Benches, which is that the underlying business has to be profitable; otherwise there is nothing to bail out—there is nothing to lend money to. When money is being lost at that rate, the idea that yet more taxpayers’ money is pumped into something that will lose it in a matter of weeks or months seems to me to be crazy.