British Prime Minister Boris Johnson said on September 23 that British Government did t agree to bailout $150m tax that was pending by Thomas Cook, which led to its collapse. He said that Government will w buy return tickets and pay bills of people stranded in a foreign land who were holidaying under Thomas Cook group. About 150,000 British holidaymakers remain outside Britain as 178-year-old travel company collapsed this week. British Civil Aviation Authority, funded through payments me by all airlines to a shared emergency fund as part of ir licenses to operate will make payments. Johnson me statement when he was emplane to New York to attend UN General Assembly. 

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Why did Britain t give bailout to Thomas Cook?

Johnson said that Thomas Cook's request for a bailout was rejected due to moral hazard it would create for or businesses to fail. It involves a lot of taxpayers money he ded.

He also questioned need for action to be taken against owner of companies who escape responsibility of its customers.  Responding to situation, Johnson said that Government's thoughts are with customers of Thomas Cook and that it is a very difficult situation. He assured stranded passengers that Britain will do its best to help m come back. Johnson concluded that Government needs to look for ways in which operators, one way or ar, can protect mselves from such bankruptcies in future, hinting at action to stop a repeat of fiasco. 

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Labour politicians and Tre Union condemn Government's n-intervention

When Thomas Cook was on brink over weekend, some Labour politicians and tre unions h called for comprehensive government aid to save famous firm and its thousands of staff – pointing to multi-billion-pound bailout of banks a dece ago. But despite coming under fire from Labour and unions for failing to step in to save collapsed tour operator, Johnson said it did t seem government could have done more to help. This has laid bare differences in approaches between Tories and Labour towards state intervention, with show chancellor, John McDonnell, blaming government’s ideological bias for its decision t to intervene. decision of nintervention was also condemned by tre unions, who insisted cost of bringing stranded Thomas Cook customers home from holidays abro would dwarf amount of taxpayer support requested by firm.

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