Oral Answers to Questions
Debate between Karl Turner and Grant Shapps(5 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Grant Shapps
My hon. Friend is right, at least in part. The ATOL coverage will cover a large proportion of the cost. However, the company was an airline as well as a travel company and, as my hon. Friend will be aware, airlines are not currently covered under ATOL—that is part of the review. In any case, we will ensure that laws are in place to make sure that the fleet can be used regardless.
Karl Turner (Kingston upon Hull East) (Lab)
The truth is that it is shocking that this Government let down Thomas Cook staff. They lost their livelihoods while the gaffers got rich off their bonuses. The subsidiaries Condor in Germany, Thomas Cook in Spain and Thomas Cook in Sweden are still flying. The Government have stood by and let the business in the UK fail. When the Secretary of State gets to his feet, will he just say sorry for letting down all those hard-working staff and the British taxpayer?
Grant Shapps
The whole House and, indeed, the whole country is aware that those on the Opposition Front Bench do not understand how an economy functions.
Grant Shapps
If there was any possible way to ensure the survival of a company whose directors were allegedly being paid millions of pounds—it is interesting to hear that the Opposition want us to have backed those millions of pounds of bonuses with yet more money from the public purse—we would have done it, but, as I said, it would have required accounting officer direction, because it simply did not stack up. As the hon. Gentleman knows, the reality is that Hays Travel has come in and rescued many of those jobs, because well-run companies survive. Poorly run companies cannot survive.