When I was a little boy, couldn't have been much more that seven, my Pa put me on his knee and told me, 'Son, capitalism uses resources efficiently. You remember that boy and you'll have no trouble in life.' He was never any good with names.
This CP project will cost £500m of private money. Is that half a billion and all that fragile glass a wise use of resources? After all, look what happened last time.
So, while the private sector throws its money on the fire, the government either cannot afford to build houses or has some ethical excuse (such as £500m can be better spent). Say a bog standard Barratt house costs 30,000 to build - half a billion would get you over 15000 houses and keep all kinds of industries going - just think of all those crappers and kitchen unit door handles.
