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A small fraction of the ingenuity devoted to the construction of complex financial instruments that no one should want could advantageously be applied to the construction of less complex instruments that meet the needs of the Big Society.
From the start, PFI conflated the desirable aim of exploiting private sector management skills in project supervision with the undesirable aim of obscuring public finances with complex funding structures. It created an industry of advisers with a vested interest in its own expansion.
Government spin is especially debilitating because government is a monopoly supplier of much of the information that an informed democracy requires.
The Independent Commission on Banking headed by Sir John Vickers which the coalition Government has established will be told that such a separation between utility and casino can't be done – although it was done in Britain for most of the 20th century.