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Santa may be facing bankruptcy

Santa may be facing bankruptcy

Authored by Phil Meekin

Phil Meekin

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Approximate read time: 1 minute

It seems nobody has escaped the global economic problems. It has been reported in the Telegraph that Santa could go bust.

Latest news suggests the unthinkable could happen, Father Christmas is facing bankruptcy. And I am not referring to his ever- increasing girth.

Much of Father Christmas’ income is from money earned through visitors to Lapland. However, there has been a significant drop in visitor numbers recently, particularly from Greece, Russia, Spain and Italy. The end result is that Santa has not paid his taxes hence he now faces £140,000 worth of debts.

Of course, the main concern is that if the kitty is empty, there won’t be any presents this year.

Fortunately, many rumours are currently circulating that a rescue fund, financed by secret generous benefactors, is being set up. This will operate to ensure that children still receive their toys even if the worst happens and Santa does go bust.

All bank deposits have protection from the Financial Services Compensation Scheme which the Prudential Regulation Authority (PRA) oversee. Consequently, the Children’s Toys Protection Scheme will now have management by the National Elf Service.

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