Taxpayers face £156m bill for Thomas Cook’s collapse

British taxpayers are facing a bill of at least £156m for the response to the collapse of travel company, Thomas Cook, according to a report by the government’s spending watchdog.

Thomas Cook’s collapse last September left more than 9,000 staff out of work and over 150,000 holidaymakers stranded across the globe.

The National Audit Office (NAO) announced that the government had agreed to pay £83m towards the cost of getting them back home, as well as £58m in redundancy and related payments. Theosts include at least £15m for liquidating the business.