Teesworks Cleared of Corruption Allegations, Inquiry Criticizes Governance and Transparency

Mayor Ben Houchen welcomes recommendations and commits to improvements, as inquiry confirms land deal worth £39 million to taxpayer.

Teesworks, one of Europe's largest brownfield regeneration projects, has been cleared of allegations of corruption and illegality following an independent inquiry.
The inquiry, ordered by Levelling Up Secretary Michael Gove, criticized the project's governance and transparency, stating that some decisions did not meet the standards expected when managing public funds.
Tees Valley's mayor and Tory peer Ben Houchen, who is behind the Teesworks scheme, welcomed the inquiry's recommendations on transparency and pledged to make improvements.
The inquiry also dispelled claims that the land was sold for just £1, confirming the deal was worth £39 million to the taxpayer.
The Teesworks project, which aims to redevelop Redcar's former steelworks for green industry, saw profits triple to £54 million in the year to March 2023 after private sector companies increased their stake to 90%.