The Norfolk and Norwich was one of the first hospitals to sign PFI contracts, only to see Octagon refinance the project, increasing its borrowing from 200 million to 306 million. There must be a new leadership to carry this struggle forward. But why does it then wrongly name the Blairs as company directors? Innisfree has made a fortune by investing in PFIs across the UK. [3] Site work started the following day (12 January 1998). We urge you to accept the moral case for offering a share in this gain'.'. Full Fact is a registered charity (no. Ian Gibson, who was Norwich North MP at the time the hospital was built in 2001, went a step further 'I just wouldn't pay it,' he said. Office Admin Team Interim Executive Director- Kay Guiredirector.pfi@vcn.com Office Manager manager.pfi@vcn.com Clinical Team Clinical Director - Sarah Leger-Hayworth, MS, LPC 1505admin.pfi@vcn.com Counselor - Leslie Mashak MS, LPCleslie.pfi@vcn.com Certified Addiction Practitioner Assistant - Kim Krogmankim@personalfrontiers.org Case Manager/Forensic Peer Specialist - Autumn Rosenau, BAautumn . [17], The hospital was placed on black alert in November 2007 when it ran out of beds for a time. Director of Refinitiv, a privately-held global provider of financial market data and infrastructure until its acquisition by the London Stock Exchange Group in January 2021. He said that, in his opinion, 'every penny of profit that leaves our NHS to go to the shareholders of companies like Octagon could instead be used on patient care'. @GMB. The Personnel Force Innovation (PFI) Program is an Under Secretary of Defense (Comptroller) initiative to obtain and place National Guard and Reserve Service Members on active duty tours with Department of Defense (DoD) agencies for one to three years. Various executives from big banks appeared on secondment. The N&N is about 3pc of its portfolio. Mr. Bacon wrote about the financing of the hospital on his website; "The Department of Health would not allow the hospital to include a refinancing clause in the original contract. Nick works with both the Finance and Property teams on a wide variety of analytical tasks, including budgeting / forecasting and valuations, as well as assisting with the execution of projects and transactions. This provided an extra 95 million for the five companies that make up the Octagon consortium, tripling the rate of return to investors, with 34 million going to the NHS trust. A cornerstone of the cultural scene in Ames since 1966, the Octagon serves more than 30,000 people each year through art classes and outreach, rotating exhibits, a retail gallery shop, and the annual Octagon . The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. Director since February 2018, last re-elected May 2021. As a subscriber, you are shown 80% less display advertising when reading our articles. He is currently a Director of Tainui Group Holdings Limited, Air New Zealand Limited, and Port of Tauranga Limited and is a member of the Executive Board of the Halberg Foundation. The N&N owes Octagon just under 200m which it is currently paying off at a rate of around 3m a year. Photo: Parliament TV. As the voice of U.S. pet food makers for more than 60 years, we provide factual information about pet food and treat safety, nutrition, and health to pet . Salaries posted anonymously by Octagon employees. ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. c/o B2S Marketing Av. PFI, it could be said, underlines that austerity is a political choice rather than a necessity. Pamela has completed a Bachelor of Commerce degree from the University of Auckland and is a Chartered Accountant. Simon was appointed as Chief Executive Officer of PFI in January 2019. And that right was only obtained by taking on huge extra potential liabilities. das Americas, 3.434 - Gr. Whether it's Blair . The policy was first implemented under John Majors government and continued by Tony Blairs government. Data returned from the Piano 'meterActive/meterExpired' callback event. This website and associated newspapers adhere to the Independent Press Standards Organisation's We have also tried to contact Octagon's director. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. She previously held a variety of roles across property finance, risk, compliance and governance in the banking sector. The Pet Food Institute and our members, who make the vast majority of all U.S. pet food and treat products, are committed to helping dogs and cats live long and healthy lives. But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. Golf Clients . The fees paid by the Trust are partly rent for the buildings, interest on its loan and partly fees for services such as cleaning, maintenance and gardening. The original cost of the project was 1.1bn. Sure enough, there is some evidence of the tide turning. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. [12] In 2007, the Audit Commission's "Review of the NHS financial year 2006/07" reported that the trust was delivering the best financial management of any NHS Trust in the country[13], In 2006, the Public Accounts Committee released report into the PFI refinancing conducted by the private Octagon Healthcare consortium, of which Innisfree Ltd owns a quarter, involved in building the Norfolk and Norwich University Hospital of "lining investors' pockets" and putting the trust at increased financial risk. [4], The hospital was completed in August 2001, five months ahead of schedule, and on budget. The management is saying: There is only one way that this jobs massacre can be lessened. Greg is also director of Reidy & Co Limited. Prior to joining PFI, Kieran has held several Senior Facilities Manager roles in the commercial, industrial and retail industry. Director - PFI / PPP Currie & Brown 1991 - 200716 years London, United Kingdom Director responsible for all aspects of consultancy advice in the social infrastructure and real estate sectors.. 'The more patients we treat, the higher the PFI usage fee, on the basis that the services are used more intensively and the buildings require greater maintenance,' a spokesperson for the hospital explained. It is to be pay cuts, ultra flexibility, and out of hours unpaid overtime, plus sending patients home early, plus compulsory redundancies. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. Photo: Parliament TV (Image: Archant). So, we have to do that. I searched for Tony Blair and Octagon and came across lots of posts all written this month where people had copied and pasted the same false information: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998 from a press conference in Tokyo they started work the very next day !!! Sarah works with all parts of the company on a variety of matters including sustainability, risk management, compliance, and company secretarial. As a subscriber, you are shown 80% less display advertising when reading our articles. Do Rishi Sunaks claims about hospital discharge funding stack up? All directors are appointed by shareholders at PFI's annual meeting. In July 2000 approval was given to extend the Norfolk and Norwich University Hospital with a second phase that included an additional 144 beds and took the project cost to 229 million. Craig was appointed Chief Financial Officer and Company Secretary of PFI in 2012, and when PFI merged with DPF in 2013, was appointedChief Financial Officer and Company Secretary of the merged entity. The hospital under construction at Colney in 2001. PFI is the voice of US pet food and treat makers and reports that its . All 100%. A Gannett Company. Previously, Angela held a number of senior positions over a 10-year period with Foodstuffs Auckland and Foodstuffs North Island, most recently being General Manager Property Development for Foodstuffs North Island. because Tony and Cherie Blair are not directors of Octagon Healthcare. Banking leviathan HSBC also has a stake in PFI hospitals. The text on the post reads: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998. False information has been spread by thousands of people on Facebook, wrongly linking the Blairs to the company behind the PFI contract at the NNUH. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. Now the unheeded prophecies of the Cassandras have come true. because Tony and Cherie Blair are not directors of Octagon Healthcare. One man even threatened to kill the Blairs because of this untrue post. The London Underground public-private partnership saw the bankruptcy of private company Metronet, with the Government forced to step in and bring the upgrade back into public hands. Our multi-disciplinary team comes from a variety of backgrounds and has expertise that stretch across many sectors, enabling us to provide intelligent, joined-up thinking. Copyright 2010-2023 Full Fact. The Norfolk and Norwich University Hospital. [21], In March 2014 the N&N, Norfolk's biggest hospital, marked two years of being MRSA free. For Professional Investors only. All investments involve risk, including the possible loss of capital. The Norfolk and Norwich University Hospital (NNUH) is a large National Health Service academic teaching hospital in the Norwich Research Park on the western outskirts of Norwich, England. In the same year, Professor Allyson Pollock and colleagues published a paper sounding the alarm over the potentially disastrous consequences of PFI debt and the financialisation of public services. Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. This is not some exceptional example of the unacceptable face of capitalism. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. She is currently the Chief Executive of Tramco Group, and a director of Vital Healthcare Property Trust, The Real Estate Institute of New Zealand, Property Council New Zealand, realestate.co.nz and Foodstuffs South Island. It only got a small amount of traction. But there is another way. Imagine being whipped into such a frenzy by a Facebook post, which you havent even bothered to check the accuracy of. She is also a Chartered Accountant (South Africa). The hospital is forecast to run a 32m deficit this year and must find savings of at least 22m by March 2017. The controversial Private Finance Initiative was first introduced to the public sector under the Conservative government of John Major and the contract for NNUH, one of the first PFI hospitals, was signed in 1996. ALDWYCH CONSULTING LTD. BN25, ENG. All Simon Woodhams Craig Peirce Ewan Cameron Sarah Beale Anthony Beverley David Thomson Greg Reidy Director - PFI Advisory Aldwych Consulting Ltd London, England,. David advises a wide range of New Zealand and international businesses and significant public-sector clients including Panuku Development Auckland, The University of Auckland, Victoria University of Wellington Te Herenga Waka, and Museum of New Zealand Te Papa Tongarewa. Intriguingly, PFI hospitals have been designed with significant numbers of individual rooms as opposed to conventional wards. For the purposes of that scheme, weve rated this claim as partly false The Norfolk and Norwich University Hospital was also highly commended in the Commission for Architecture and the Built Environment Prime Minister's Better Public Building Award in 2002. Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. A quick search on Google will tell you who the directors and shareholders of the company, Octagon Healthcare Group, are. I was against it in principle,' he said. Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of PFI. The contract is due to run until 2037. Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. Genevieve (Gen) joined PFI as Office Administrator in 2022. Those ads you do see are predominantly from local businesses promoting local services. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. Find Octagon Salaries by Job Title 81 Octagon employees have shared their salaries on CareerBliss. RBS was the biggest bank in the world by assets when it failed in 2008. This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. Meanwhile, dividends to Octagon's shareholders were up 35pc last year from just under 5m in 2014 and have increased by 700pc since 2013 when they were 834,000. Thanks to Bytemark for donating our web hosting. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. Tom Bristow, a journalist with the Eastern Daily Press who has written stories critical of the results of the PFI deal, also wrote earlier this year about how the claim that the Blairs are directors of Octagon is false. The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. It is Rented to the NHS by a private company called PFI Octagon at a cost of over 50 million a year until 2037.Guess who two of the Company Directors are = Tony and Cherie Blair !. It has even been described as owning outright three NHS hospitals. Do you have a story for the investigation unit? Editors' Code of Practice. Good Morning Britain. Company website; Company jobs; . Photo: Stefan Rousseau/PA Wire, Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. Octagon Brazil. Director since November 2019, last re-elected June 2020. More. Ive messaged him, asking why he shared it. Guess who two of the Company Directors are = Tony and Cherie Blair ! Greg has a background in property investment, funds management and development with more than 25 years experience in the management, ownership and development of industrial, commercial, build to rent residential and retail property. 1158683) and a non-profit company (no. Quote Tweet. Octagon has paid almost 26m in dividends to its three shareholders since 2009; The profits made by Octagon from the hospital are labelled a 'disgrace' by one former health minister; Octagon was paid 42.5m last year by the N&N up from 29m in 2010, as the busier the hospital gets, the more money Octagon is paid; One Norwich MP describes the PFI as 'the worst credit card deal on the comparison site'; Norman Lamb, North Norfolk MP. A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. Nick is a graduate of the University of Otago where he completed his Bachelor of Commerce majoring in Accounting, and has since gained his CPA Australia designation. Kieran joined the PFI team as the Lead Facilities Manager in 2022. Registered in England & Wales | 01676637 |. Nirali is currently on maternity leave until September 2023. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. The N&N, which is in financial special measures, estimates it is paying Octagon 57m this year. Guess who two of the Company Directors are = Tony and Cherie Blair ! The finance director will support the finance department's growth and day-to-day activities by: Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. The key individuals have extensive experience in the . The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. Sav joined the PFI team as Property Manager in early 2022. In fact, this PFI consists of two schemes. After all, while there have been exceptional cases in which hospitals have bought out PFI contracts this is not feasible for larger PFI deals, such as that involving Barts Health, without the backing of government. Corporate and commercial. Prior to joining PFI, she held roles in hospitality, retail and travel. Karen O'Donnell Client Director-PFI & Infrastructure Team. Angela recently joined PFIs Board in February 2023. This material is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of . Carolyn previously served on the boards of Tuatahi First Fibre, Metlifecare and Datacom. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. Barts Health eventually ran into financial dire straits and was put into special measures by the Care Quality Commission in 2015. inaccuracy or intrusion, then please As early as 1999, Richard Smith, editor of the British Medical Journal, denounced it as PFI: Perfidious Financial Idiocy in an editorial revealing that repayments would be exorbitant. It has investments in 57 projects, worth 17.3 billion, according to its website. However, repayments will reach 7.1bn by 2049. A Department of Health spokesperson said: 'We provide advice and consultancy on PFIs to individual trusts across the country, making savings on their current contracts.'. Up and down the country, this is the slick, corporate sheen of PFI hospitals. Guiding and overseeing the survey on expiry Review of asset / service data provide by the SPV / PFI service provider/sSupporting future . The hospital says it is paying Octagon around 57m a year. This figure may certainly prove to be questionable. The hospital's hands are closely bound when it comes to making 22m of cuts this financial year and getting closer to budget. PFI Board of Directors Correspo11de11ce to the PFI directors' addresses is always welcome. contact IPSO here, 2001-2023. David is a senior partner at law firm Buddle Findlay, where he runs a broad corporate and commercial law practice, with particular expertise in mergers and acquisitions, joint ventures and corporate structuring. 2003: The hospital 'refinances' its PFI deal with Octagon. HP10 9TY. Angela is also a qualified lawyer with significant expertise in environment and property law. Guess who two of the Company Directors are = Tony and Cherie Blair ! Craig joined McDougall Reidy & Co Limited (MRC) as Chief Financial Officer and Company Secretary of MRC and Direct Property Fund (DPF)in 2009. As researcher and campaigner Joel Benjamin of The People vs PFI (full declaration: I have made Joels acquaintance in recent years) has written: Politicians did not simply wake up one morning and declare that banks should finance and own schools and hospitals, off-balance-sheet, via offshore tax havens, they were lobbied by City interests, prior to the implementation of PFI.. Far from being the unacceptable face of capitalism, this is just finance capital at work, the real face of capitalism, exploiting health care as a commodity to be bought and sold, and gearing up for a completely privatised NHS. Simply centralising the debt might still mean taxpayers forking out billions as profits for PFI consortia. If you are dissatisfied with the response provided you can There are fewer junior doctor offices and overnight rooms. Campaigners argue that with such an unedifying track record, major corporate and financial interests should not be entrusted with hospitals and schools. [6], It is one of a small number of Accident and Emergency departments to benefit from Pearson Lloyd's redesign - 'A Better A&E' - which reduced aggression against hospital staff by 50 per cent. The hospital says the PFI contract means its buildings are maintained to a high standard for the lifetime of the contract and they are also refurbished regularly. Want to bookmark your favourite articles and stories to read or reference later? Registered in England & Wales | 01676637 |. To put it into perspective, the PFI debt is four times the size of the budget deficit used to justify austerity, Find your bookmarks in your Independent Premium section, under my profile. Tom works with both the Finance and Property teams on a wide variety of analytical tasks. [19], In 2011, a Care Quality Commission inspection found that the hospital was in the moderate concern category with regards to nutritional screening. The Octagon was a suitable home for a president. Under the PFI, a private sector consortium builds and maintains the building and then leases it back to the public sector. Editors' Code of Practice. Powerlinebd.com 01760002011 Power Line. Prior to joining PFI, Savanna worked as a commercial property manager looking after diverse range of industrial, retail and office properties. Dyer currently serves as a director of Liquidity Services and the Grameen Foundation. About PFI. Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. The consortium which financed NNUH is called Octagon Healthcare. Angela is an experienced director and executive in property investment and commercial developments. It is true that a new hospital, The Norfolk and Norwich University Hospital (NNUH), was funded using a private finance initiative (PFI) and was announced by Mr Blair on 11th January 1998although the hospital trust first invited expressions of interest from private companies to build and finance the hospital as early as 1995, before Mr Blair was prime minister. Workers Revolutionary Party. Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. Ive been getting some weird emails recently. Prior to joining PFI, Nick spent four years at ASB Bank in various planning, forecasting and analysis roles. Tony and Cherie Blair are directors at a company involved in the PFI that funded Norfolk and Norwich University Hospital, which continues to receive rent from the NHS for use of the hospital. That includes 20.7m in operating expenses and 29m in non-operating expenses the lease, interest and financing the debt to Octagon. A Facebook post shared thousands of times has claimed that Tony and Cherie Blair are board members of PFI Octagon, a group that funded a hospital in Norfolk, announced in 1998 by Mr Blair. Pfizer Director since 2014. Octagon sub-contracts those day-to-day services to Serco. Naturally, there are very serious concerns about jobs. Picture: Archant, about how the deal to build the Norfolk and Norwich Hospital (NNUH) has financially crippled it. The estimated total pay for a Account Director at Octagon is $141,107 per year. Nick joined PFI in 2018 as a Senior Analyst and was promoted to Financial Planning & Analysis Manager in 2020. Of course, it can not police every post, it is up to us the user to take care of what we believe. Total Quantity or Scope. The Trust is taking a range of measures to deal with this hugely challenging deficit; careful cost control, service redesign, and reducing an overall pay bill that accounts for 60 per cent of our budget. Dr Julia Patterson, a spokeswoman for EveryDoctor, which campaigns to improve doctors' working conditions, said the trust's message meant "optimal care is unavailable now for some NHS patients [because] 'the least unsafe option' is the best we can offer. stories critical of the results of the PFI deal, The WHO is not working on vaccines to create permanent sterility, Kate Shemirani makes several false claims about childhood vaccines, Mouth cancer rates not increased by Covid-19 test swabs. This year. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. Jesus Soriano, Program Director, pfi@nsf.gov, (703) 292-7795 Katie Bratlie, Program Director, pfi@nsf.gov, (703) 292-2638 Samir Iqbal, Program Director, pfi@nsf.gov, (703) 292-7529 Sincerely, Erwin Gianchandani Assistant Director Directorate for Technology, Innovation, and Partnerships REFERENCES 1 https://www.nature.com/articles/d41586-021-03045-w It is Rented to the NHS by a private company called PFI Octagon at a cost of over 50 million a year until 2037.Guess who two of the Company Directors are = Tony and Cherie Blair !. It was paid 42.5m last year by the N&N up from 29m in 2010. To look at it another way, a quick calculation reveals that the outstanding PFI payments would cover the pay for all the nurses, full-time consultants and GPs for 10 years. Jodie previously held roles in valuation, commercial and shopping centre management. It promotes hate, damages peoples health, and hurts democracy. Before joining PFI, she worked with the MacArthur Foundation as Country Director where she was responsible for the Foundation's grants in India. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. Project team: Anshen & Allen (Architect) John Laing plc (Main contractor) WSP Group (Structural Engineer) Hoare Lea (Services Engineer) Serco (Maintenance/support services) The hospital was completed in August 2001, five months ahead of schedule, and on budget. The estimated base pay is $107,006 per year. The Blairite Third Way would somehow square the circle by delivering new schools, hospitals, roads, railways and prisons without the debt or inefficiency of the public sector. 'The refinancing will release significant resources for the NHS in central Norfolk,' said a press release from the N&N at the time. PFI stands for Private Finance Initiative and was heavily used by the last Labour government to build facilities for the public sector, including schools and hospitals, while keeping the cost of those projects off the government's balance sheet. Sir Howard Davies, chairman of the Royal Bank of Scotland (RBS), recently made an astonishing admission on BBC1s Question Time when he stated that private finance initiatives (PFI) had been a fraud on the people. But at the current rate of payment it would take more than 60 years to clear the debt. It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. Theragone ailesi Octagon Odun Mangaln gururla sunar!Keyifli ve lezzetli anlarn olmazsa olmaz Octagon odun mangaln hi byle grmediniz!Theragone ailesi. John Appleby, chief economist at the Nuffield Trust, a health charity, told the BBC's World At One that the total cost of buying out all the PFI contracts in the NHS alone could be well over. Anthony's other directorships include Arvida Group Limited. All 100% Facts = Google them. That 20m would pay the wages of 800 nurses, or 200 GPs. Gen provides day-to-day administration and general support for the wider office. Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. Coverage By Practice Area West Midlands Back to United Kingdom - Solicitors. The finances of the Norfolk and Norwich University Hospital (N&N) are in stark contrast to those of the firm which was set up to build and maintain it Octagon Healthcare. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. Threatened to kill the Blairs as company directors are = Tony and Cherie Blair and reports that its at... 'S we have also tried to contact Octagon 's reports record profit pays. Said, underlines that austerity is a graduate of the company who are the directors of pfi octagon are = Tony and Cherie Blair austerity PFI... Hate, damages peoples health, and hurts democracy under the PFI team as property Manager looking after range. Course, it should be capable of subsequent validation by comparison with outcomes in the of! Started the following day ( 12 January 1998 ) Salman, Crown Prince and Chairman of the directors! 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