Under its New Housing Partnerships initiative, consortia of local authorities, housing associations and other investors will bid for the money to invest in new housing or refurbishment projects.
The party's aim is to see a large part of the country's housing stock transferred from council ownership to publicly accountable landlords. Fuller details of the policy will be revealed in the party's manifesto, which is to be published in the next 10 days.
Labour wants community landlords, such as housing associations, to play a bigger role in housing, because it believes that tenants will gain greater control over decisions affecting them, said a party spokesman. Scottish social housing has been traditionally dominated by local authorities.
Labour and the Scottish National Party also intend to encourage a programme of public sector housing refurbishment and housebuilding.
The SNP has promised to keep income tax at its pre-budget level of 23p. It says this will generate £690m to spend on public services. Of this, it is pledging £250m for housing.
Scottish PFI
The future of private finance initiative hospitals and schools is unclear. A Labour spokesman said the party had "no specific ideological commitment" either way, but will consider public investment on a case-by-case basis.
The SNP is opposed to the PFI, but rejects claims that this will mean eight schemes awaiting decisions will never be completed. An SNP spokesperson said the money would be allocated from the £690m generated by the extra 1p on tax.
Under the SNP, schemes would be administered by the new Scottish Public Service Trust, a non-profit-making, project commissioning and financing body. "Anything that is already happening as a PFI scheme we'll keep as it is, but any new initiatives will not go the PFI route," said the spokesperson.
Labour is likely to boost public transport if it wins power: schemes pencilled in include a railway line from Edinburgh to the Borders, a light rail scheme in Edinburgh and tramways.
Lib Dems and Tories
The Liberal Democrats also want to replace the PFI with non-profit public sector trusts that would finance and procure hospitals and schools.
It wants councils to become more involved in managing housing, but has no plans to transfer stock to community associations. The party also proposes a parliamentary committee on planning to set criteria for sustainable development.
The Conservative Party wants to transfer homes to housing trusts and champions the right to buy.
It also attacked Labour's proposed restoration of the Edinburgh-to-Borders train link.
- Elections for the Welsh National Assembly are also due on 6 May. Plaid Cymru launched its manifesto this week. It said it is opposed to the PFI, but would not rule it out for schemes where alternative funding was not available. It favours refurbishment rather than new build, brownfield rather than greenfield development and mixed tenure for housing developments.
