I see one early poster saying that "Healey was just doing what he was told to by the Americans".
If you believe Peter Wright (author of "Spycatcher") then Healey was actually doing what the USSR told him to! Healey and Wilson were both "ex" communist party members.
OK, so if TSR2 was not the way ahead, why cut up the jigs and prototypes and shred the plans? My mother in law actually had to shred the plans as she was working at MoD at the time (claim to fame?). The only reason for this would be to ensure that the project could not be ressurected.
So we order F111 - then cancel - just in case that gives us an edge over the Warsaw Pact?
Conspiracy theory or fact - I tend to go with fact, myself.