HC Deb 27 January 1971 vol 810 cc131-2W
Mr. Judd

asked the Secretary of State for the Environment what profits were made by Thomas Cook Limited in each of the past five years; and whether he will make a statement on the Government's plans for the future of this publicly-owned enterprise.

Mr. Peyton

The profits before tax of Thos. Cook and Son and its subsidiaries, for each of the last five available years are as follows:

£millions
1965 … … … … 2.1
1966 … … … … 1.7
1967 … … … … 0.8
1968 … … … … 1.2
1969 … … … … 1.1

As to the second part of the hon. Member's Question, I have been reviewing the activities of the Transport Holding

Mr. Eldon Griffiths

I regret that all the information requested is not readily available. That which is available is as follows:

Company and its subsidiaries, including Thos. Cook and Son Ltd. I have come to the conclusion that there is no reason why the Government should continue to be involved in the travel agency business. I have therefore decided that Cook's should be sold as a going concern. I am discussing with the T.H.C. the most appropriate method of disposing of its other subsidiaries, Sir Henry Lunn Ltd., and Pickfords Travel Services Ltd. I hope to introduce the necessary legislation this session. Both the Chairman of the T.H.C. and I recognise the importance of this decision for the staff, whose interests we have very much in mind. The trade unions concerned will, of course, be fully consulted.