UK regeneration exists amid a ‘burgeoning’ literature which states the ongoing desire to improve the outcomes of urban policy. However, concern about the symbolic nature of regeneration policy and its re-production in the form of ‘linguistic debates’, can latterly be witnessed in the context of more ‘discursive’ concerns rooted in shifting patterns of governance. Drawing empirically from research with fifty UK regeneration professionals and Laclau & Mouffe’s (2001) theory of socialist hegemony to explore reasons for the persistence of such ambiguity, three rival discourses emerge in the form of ‘Building City Regions’; ‘Narrowing the Gap’; and ‘Building Community Capacity’. What a critical analysis suggests is that by ‘deconstructing’ rather than ‘deciphering’ the goals of regeneration policy, a temporary ‘discursive’ form of regeneration emerges in which the contradictions and tensions within the discourse are represented in the form of ‘nodal points and floating signifiers’ and articulated through the notion of lack. This can be linked to the bureaucratic struggles which emerge as a result of a ‘new right’ hegemony, which commodifies all aspects of work and social life to bring market-informed ways of seeing and doing to every aspect of regeneration practice. Actors seek to manage such complexity through emotional investment