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The Tory government today insisted Thomas Cook's collapse is absolutely nothing to do with Brexit after the holiday firm plunged into liquidation.

Health Secretary Matt Hancock said there was no "Brexit connection" despite businesses dangling in uncertainty and the value of the pound - which has plummeted since the 2016 EU referendum - hitting UK holidaymakers.

The Cabinet minister instead blamed the crisis on Thomas Cook's "long term problems as a business" as its model is left out of date by the internet.

Mr Hancock's comments do match recent reports on Thomas Cook, which have stressed the firm had been hit by high debt levels, online rivals and geopolitical uncertainty.

However, he did not mention that Thomas Cook itself also warned uncertainty around Brexit was hitting bookings industry-wide four months ago.

In a statement announcing a loss of more than £1bn on May 16, the firm said: "In the UK, the political uncertainty related to Brexit over recent months has led to softer demand for summer holidays across the industry.

(Image: Wiktor Szymanowicz / Barcroft Media)

"While our booking position remains ahead of the capacity reductions in the tour operator, the trading backdrop remains highly competitive, leading to increased levels of promotional activity.

"We have seen no tangible change to booking patterns in recent weeks since the announcement of a delay to Brexit, although we will shortly start to lap a weaker comparative period."

It added: "The prolonged heatwave last summer and high prices in the Canaries reduced customer demand for winter sun, particularly in the Nordic region, while there is now little doubt that the Brexit process has led many UK customers to delay their holiday plans for this summer."

The Civil Aviation Authority is leading a £100m repatriation effort for 150,000 stranded Brits using more than 40 planes after the 178-year-old firm collapsed overnight.

(Image: Daily Record)

The package holiday giant needed another £200m on top of a £900m package it had already agreed, to see it through the winter months.

Health Secretary Matt Hancock was asked if Brexit was a factor on LBC Radio by host Nick Ferrari.

He replied: "No. I don't think there's any Brexit connection.

(Image: Chris J Ratcliffe)

"We just heard... about the long term problems Thomas Cook has had as a business.

"It's the sort of business that in the last century we used to use all the time - I remember booking one of my first holidays that I every booked through Thomas Cook.

"Now I just go straight to the internet.

(Image: REUTERS)

"Lots of companies have been disrupted by the internet.

"I think the big disruption from the internet is bigger than Brexit.

"I think it's the biggest thing happening over our generation, and we've got to make sure every part of life is as prepared as possible for that, including the health service which I'm responsible for."

Transport Secretary Grant Shapps added: "The company had enormous debts of £1.7 billion.

"The world had changed in terms of the way people book holidays and all these things over a very long period of time had caught Thomas Cook out."

(Image: PA)

One of the world's oldest and largest travel companies, the firm had been trading for 178 years - having been established by a cabinet maker who organised a day trip.

As of this year the group employed 21,000 people in 16 countries, operated 105 aircraft and 200 own-brand hotels and resorts.