Hardy Tropicals UK

Can someone tell me what is going on with my cordyline. Two branches; one perfectly healthy, the other dead (or nearly dead). The dead one has some strange growth inside inside that might once have been a nascent flower. (Apologies for the upside down images. I don't know how to correct them)

Just cut it off, the stem has rotted through it wont recover, could be some damage occurred during winter

i agree with Charlie give it the chop

Like the others I would prune the dead branch off but for a different reason. If there is any infection you don't want it spreading to the rest of the plant! Also it looks a ruddy mess.

Its off. The remaining trunk looks healthy, so.... fingers crossed.