The newly published accounts of Teesworks reveal that it purchased a piece of land for £97, confirming the accuracy of the reported land sale. The accounts also show that the private company made £93.3 million from selling the land it bought for less than £100 from the public sector. Additionally, the profits of Teesworks tripled to £54 million in the first full year after private developers were given shares without public knowledge, with only 10% of the profits going to the public purse. This has sparked controversy and accusations of scandalous behavior by public figures, including Tory mayor Ben Houchen and associates.
The Teesworks accounts confirm the shocking truth that 110 acres were sold for just £97 to the company 90%-owned by associates of @BenHouchen. When asked by @liambyrnemp about the scandal, @michaelgove said he’d not received the panel’s report. They need to check their emails. https://t.co/EPlphknP4J
The Teesworks accounts confirm the amount the private company made from selling the plot of land it bought from the public sector for less than £100. It's £93.3m. https://t.co/WmPxLpTyfw https://t.co/WmPxLpTyfw
In the Commons, Stockton North Labour MP @ACunninghamMP uses a point of order to mention FT report that Teesworks annual profits tripled to £54m, but says it's "scandalous" only 10% will go to public purse as 90% of shares were handed over to 2 businessmen...
So that's £5.4 million for the public and £48. 6 million for the private companies given 90% of the shares when Tory mayor Houchen was in charge. Scandalous - the people being robbed by the Tories again. https://t.co/YHkayD3KZ9
The first full accounts for Teesworks are out - profits tripled in the first full year after private developers were handed shares without public knowledge https://t.co/mj52623YL3
Remember when Ben Houchen called @rbrooks45 of Private Eye a liar for reporting that land was sold to the controversial Teesworks Ltd for £100 (well, £96.79 to be precise)? Well, Teesworks's freshly published accounts show it indeed purchased a piece of land for £97! Fancy that! https://t.co/HKxySg27Rh https://t.co/8MN6yTdqZi