Saturday, 21 September 2019

Thomas Cook

Funny how the Capitalists view of Socialism changes once they run out of money and come with a begging bowl to the Government for taxpayers money, the banks did it to the tune of £200 billion which left the nation in Austerity for over a decade and now Travel Agent Thomas Cook are in the hole to the tune of £200 million and are eyeing the Governments tax receipts as Administration becomes more and more likely.
The Government, so far anyway, have been reluctant to bail out the company but they know that if the Travel Agent does go into administration, the repatriation fee alone to bring home the 160,000 stranded Thomas Cook customers could come to £600 million and then there are the 9,000 UK jobs which will be lost but they set a precedent with Carillion who they refused to offer financial assistance to and let it collapse with the cost of 20,000 jobs.
The company, one of the largest Travel Agents in the World and with a turnover of £9 billion, has said that the reason it has found itself in this situation is down to political unrest in holiday destinations such as Turkey, last summer's prolonged heatwave and customers delaying booking holidays because of Brexit.
The mood music coming form the Government is that most Thomas Cook customers will be covered by travel insurance or Atol protection which suggests that the UK taxpayer is unlikely to become Thomas Cook's saviour.
Obviously the heart goes out to Thomas Cook's customers and the soon to be redundant staff but that is the World we live in where mega-money companies pursue the Capitalist dream until they run out of money and then greedily eye yours and they don't care how many Hospitals are closed or Police Officers are made redundant to pay for it. 
While austerity is still in full force and disabled benefits are being slashed to pay for the last handouts, we just can't afford to pay for Thomas Cook's mismanagement.


Liber - Latin for "The Free One" said...

let the company fail - unless it will do irreparable harm to the nation

Falling on a bruise said...

They did, wasn't sure they were going to though.