The Private Finance Initiative in English Council Housing Regeneration: A Privatisation too Far?

Despite the enormous body of scholarship that has tracked the transformation of social housing from the ‘public housing model’ of the welfare state era to the ‘social housing model’ of today, large gaps remain in our understanding of this shift. This paper addresses on one such vacuum—the controversial use of the Private Finance Initiative (PFI) as part of the Labour Government's Decent Homes programme in England. Focusing on ‘council housing’ schemes, a critical overview is presented of the housing PFI experience so far. The main purpose is to understand the motives and drivers behind the use of PFI in housing at different scales, assess the progress of the national PFI programme and explore the significant issues, controversies and challenges encountered. The paper concludes that PFI has proved to be more complicated and expensive than its proponents predicted and should be discontinued in the social housing sector.