The claims, raised by Labour MPs, relate to the transfer of millions of pounds of public assets to private developers.

The Conservative Tees Valley Mayor Ben Houchen said he "looked forward" to the outcome of the review.

The Secretary of State for Levelling Up, Michael Gove, said the "continued allegation of corruption" had posed a "very real risk" to the site, which had "delivered jobs and economic growth".

However, he noted that the National Audit Office (NAO) did not have the remit to investigate the site, so he would "welcome" the body to update its review of the government's funding arrangements.

The independent panel will report on the governance arrangements, how decisions are made, and look "at the value achieved for the investment of public money on the site".