Taxpayers to foot bill for next tour firm collapse, UK watchdog warns

National Audit Office says demise of Thomas Cook left industry fund severely depleted

Taxpayers would have to foot the bill if another tour operator followed Thomas Cook into insolvency, the National Audit Office has warned, after a tourism industry fund that paid out £481m to repatriate and refund holidaymakers hit by the collapse was left severely depleted.

In a report on the shock demise of the 178-year-old tour operator last year, the NAO said the state had already borne £156m in costs, a figure it said was likely to rise in future.

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from The Guardian https://ift.tt/2WpgDdl