The reasons for the decision was a lack of confidence that there was effective management of costs or timetable and that the project did not represent value for money. The evidence was:
substantial overrun in the procurement timetable four-fold increase in the funding requirement (£119 million in PFI credits in 2005 up from £30 million in 2000) a large part of the negotiations were with a single bidder the possibility of further cost increases contract signature.
The project still has an allocation of £55 million PFI funding available.
Officials in the Office of the Deputy Prime Minister are working with Camden on the way forward.