The concept of the ‘quasi-market’ in Britain developed in the 1980s as Conservative governments sought a way to reconcile market principles with publicly funded services. This article considers the nature of quasi-markets with particular reference to current policy changes in the fields of health and social care. It examines the tensions inherent in the concept, the feasibility of implementation and the likely outcomes for the two policy areas. It suggests that the political sensitivity of the health and social care fields is such that a high degree of regulation will be required, and that any resemblance to a genuine market is unlikely.