THE Government has been challenged to "cough up £100m or shut up" by a leading Conservative pressing for the regeneration of a huge abandoned industrial site.

Tees Valley Mayor Ben Houchen has today revealed his submission of a formal bid for funding to secure and clean-up the 4,500-acre South Tees Development Corporation land to the Chancellor of the Exchequer, ahead of Wednesday’s Autumn Budget.

The £100m sum would be channelled into kick-starting a 25-year masterplan that was unveiled last month as part of Mr Houchen’s vision to potentially create 20,000 jobs in the area.

The blueprint includes the demolition of the former SSI steelworks, in Redcar, to be replaced by a “world class” industrial park.

Following criticism of the amount of funding the Conservative government has directed towards the area, Tory Mr Houchen said the Chancellor's decision would serve as a “litmus test of the Government’s commitment to Teesside”.

He added if the funding was granted, it would be used to prepare the land, making it environmentally safe, ready for private sector investment as soon as next year.

He said: “We have private sector investors lining up to plough money into this site, but we need to get the land cleared up and ready so we can start to see some new jobs for local people.

“I have held months’ worth of meetings with ministers and have received strong support for my proposals – but now I want the Government to put its money where its mouth is.

“I’m urging the Chancellor to use the Budget on Wednesday to make this announcement.

“There would be no clearer sign of the Government’s commitment to Teesside.

“This is the single biggest development opportunity in the UK and I want the government to cough up so we can stop talking about jobs, and start delivering them.”

Around 60 “serious enquiries” are believed to have been submitted from businesses around the world interested in developing the 4,500 acres of Teesside, including Teesport – England’s largest exporting port.

Twenty-five miles of new road infrastructure and 31 miles of rail infrastructure improvements are also planned by Mr Houchen, who has been backed by Redcar’s Labour MP, Anna Turley.

Ms Turley, who is currently signed off until the New Year while she recovers from surgery, said it was vital Theresa May "made up for the betrayal of her predecessor when the steelworks closed", and needed to deliver on her promises and release the funding for the vast brownfield area.

She added: "The Prime Minister has said she is committed to supporting the site. The regeneration of the SSI site is one of the biggest opportunities for Teesside right now and has the potential to bring thousands of much needed jobs to our area.

“We are attracting investors worldwide because it is a fantastic industrial site with access to a skilled local workforce.

“But as I said at the launch of the Master Plan, the government need to stump up the money to get this project moving.

“Locally, we have the vision, the skills, and the business interest. A clear commitment of cash in the Budget this week would help kickstart the project. Teessiders are expecting the Chancellor to deliver."