[holding answer 11 June 2007]: The Government have increased the basic funding for council housing by 30 per cent. in real terms since 1997. Where local authorities need more than this funding to make all social housing decent, additional funding is available through setting up a high-performance Arms Length Management Organisation (ALMO); entering into a Private Finance Initiative (PFI) contract; or transferring stock to Registered Social Landlords.
Camden has one PFI scheme which covers the refurbishment of the Chalcots Estate, in Swiss Cottage. The scheme was awarded £65 million in PFI credits, and will receive PFI subsidy from 2006-07 onwards.