Notes from the North: Teesworks dividends go up despite plummeting income and a very bleak New Year's Eve online
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It was an early edition of The Teesside Lead this week as Leigh Jones went head-first into the latest accounts for 2024-25.
It showed dividends up to £30m despite revenue for the year dropping to around £6m - numbers which don’t survive even passing-glance scrutiny.
For context, Teesworks Ltd company was set up as a 50-50 joint venture between the public South Tees Development Corporation (STDC) and local businessmen Chris Musgrave and Martin Corney to redevelop the site of the former Redcar steelworks. However, the businessmen were controversially given 90 per cent of the company for free in 2021.
In Lancashire in December, there was a police visit to County Hall to ensure a return to respectful conduct among politicians - especially on social media. That, somewhat predictably, didn’t survive the month.
And in Blackpool people saw the word ‘explosives’ and started sharing information about asylum seekers. A white British boy from Blackpool was later detained.
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Teesworks: Dividends increased to £30m despite plummeting income
The latest published accounts for Teesworks Ltd show an increase in dividends paid to shareholders - up to £30m, despite revenue for the year dropping to only £6m.
Turnover for 2024-25 dropped to £6m from £22m the previous year, but dividends increased from £20,250,000 to £29,700,000. Elsewhere in the accounts, it’s revealed the private businessmen in charge of the company paid a company they own £2.5m, although that’s less than the £8m they paid the same company the previous year.
Teesworks Ltd company was set up as a 50-50 joint venture between the public South Tees Development Corporation (STDC) and local businessmen Chris Musgrave and Martin Corney to redevelop the site of the former Redcar steelworks. However, the businessmen were controversially given 90 per cent of the company for free in 2021.
Calls for respectful conduct at County Hall fall over within a month
Calls for a return to respectful dialogue at County Hall almost lasted a full month.
Political leaders at Lancashire County Council met with Lancashire Constabulary on 1 December to discuss concerns including over how councillors use social media.
County Hall said the meeting was ‘productive’ and designed to encourage ‘high standards’ but Labour claimed that the previously cordial atmosphere had changed since Reform UK took control in May 2025.
Reform UK dismissed that allegation, and others like it, as ‘vexatious’ and part of a pattern seen across the country.
But any progress was dealt a blow over Christmas by a number of posts by Cllr Luke Parker, who represents Preston East at Lancashire County Council for Reform UK.
New Year’s Eve incident in Blackpool paints a bleak picture of online discourse
Two incidents in Blackpool over the New Year period left police and politicians exasperated due to the hate and false claims expressed.
Homes were evacuated on New Year’s Eve after a number of improvised fireworks were discovered at a property in Gloucester Avenue at around 11.30am.
At the time of the incident, it was confirmed that a 16-year-old man had been arrested on suspicion of offences under the Explosives Act and disposal teams were in attendance. It was only later confirmed as likely modified fireworks.
At that point, it was predictable that people would speculate and it was quickly shared that the person arrested was an asylum seeker or an illegal immigrant.
But The Blackpool Lead has learned, and verified, that the boy is White British and from Blackpool.
News provider GB News covered the initial story when potential explosives were discovered and homes evacuated but have not followed up the story when further facts became available.
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