Editors' Code of Practice. Anthony's other directorships include Arvida Group Limited. 3 It has found that government does . Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. The proposed variation to the PFI contract . Tom works with both the Finance and Property teams on a wide variety of analytical tasks. Greg is also director of Reidy & Co Limited. The past month has seen the demise of construction giant Carillion followed by the collapse of Capitas market value: both firms having built huge empires by providing outsourced services to public authorities. PFI-RP grants are up to $550,000 over 36 months. Listed on 2023-02-23. 'This is what it was all about at the beginning,' he said. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. Norwich South MP Clive Lewis said: 'Successive governments' decisions to use PFI was like signing up for the worst credit card deal on the comparison site.' In fact, this PFI consists of two schemes. The hospital was reportedly the biggest built using a PFI contract at the time. Up and down the country, this is the slick, corporate sheen of PFI hospitals. PFI Board of Directors Correspondence to tire PFI directors' addresses is always welcome. 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 !. 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.'. 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. THE Octagon private sector consortium has been branded the unacceptable face of capitalism by a House of Commons committee. Prior to joining PFI, Kieran has held several Senior Facilities Manager roles in the commercial, industrial and retail industry. For the purposes of that scheme, weve rated this claim as partly false Samantha is a graduate of the University of Pretoria and University of South Africa, and has completed a Bachelor of Commerce degree in Accounting Sciences and an honours degree in Accounting Sciences respectively. Revealed: How shareholders of PFI firm are making millions from cash-strapped Norfolk and Norwich University Hospital Health By Tom Bristow The N&N under construction in July 2001 (l). All 100% Facts = Google them.. The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! Auckland, 1010. The PFI contract was entered into on 8.1.1998 for a duration of 60 years at an estimated value of 144 000 000 GBP with Octagon. This year it is paying the firm which built it 57m under the PFI deal. It later transpired that the process of bringing in PFI had not exactly been transparent. It only got a small amount of traction. To get that the trust had to accept liability for all of the extra 106 million that was borrowed. Barts Health eventually ran into financial dire straits and was put into special measures by the Care Quality Commission in 2015. 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 hospital opened in 2001 under a deal called a Private Finance Initiative (PFI). Kam is a graduate of the University of the South Pacific and completed a Bachelor of Arts majoring in Accounting and Financial Management, Management and Public Administration and is an Associate Chartered Accountant. At the end of the contract, ownership of the hospital will pass to the NHS. Press Association corrects error in reporting on research for prostate cancer test. St. Louis, MO 63108 Phone: (800) 500-8130 or (314) 371-6000, ext. So, we have to do that. Picture: Archant (Image: Archant 2018). Director - PFI Advisory. Photo: Parliament TV (Image: Archant). The initial cost of 229m is paid for through Octagon. The way out of the PFI crisis for the government and the management of the Norfolk and Norwich is to attack the workforce and to attack patient care. He is a graduate of Canterbury University where he completed his Bachelor of Commerce majoring in Accounting and Marketing. 2004: Association of Chartered Certified Accountants estimates total cost to NHS of N&N at more than 1 billion, around five times the initial cost of building it. Maybe the press and reporters should start taking more responsibility for the mess ffs. 02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. 'The whole PFI programme was massively ill-judged,' he said. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. 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 Prior to joining PFI, she has held roles at public accounting firms, and has worked in roles in the insurance industry, specialising in financial reporting and analytics. It meant 33.9m of funds would be released to the hospital, but the minimum repayment term was extend from 30 to 35 years, meaning it could not get out of the contract and payments to Octagon until 2037 at the earliest. Providing technical leadership to grow the teams capability. 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. Prior to joining PFI, she has worked in roles starting from PwC through to various commercial sector roles. Since graduating Auckland University in 2013, Luke has held a variety of roles in, commercial, industrial, retail and residential property management. The ballast sides support your arms while making it easy to fold the chair away when not in use. Managing Director, Octagon Financial Services Talent + Properties Simone Errey Managing Director Marketing Australia James Logan Head of Client Services Marketing UK Marianne Rotole Executive Vice President, Client Services Marketing North America Ross Chouler Head of U.S. Same goals than PFI-TT. [21], In March 2014 the N&N, Norfolk's biggest hospital, marked two years of being MRSA free. Carolyn has a background in investment management, capital markets and mergers and acquisitions, having spent six years as a portfolio manager at the Guardians of New Zealand Superannuation, and ten years prior to that in investment banking at Forsyth Barr and First NZ Capital / Credit Suisse. Prior to joining PFI, she held roles in hospitality, retail and travel. Innisfree has made a fortune by investing in PFIs across the UK. The consortium which financed NNUH is called Octagon Healthcare. 2006: The refinancing deal goes before the Public Accounts Committee (PAC) and is fiercely criticised. 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. Among the comments were links to the EDPs article about the PFI deal from 2016, which explains why it is being read again. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. 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. Read more about our Board of Directors here. The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting. The new borrowing was at a lower rate of interest and over a longer period, leaving the hospital committed to lease payments for 39 years instead of the original 34, while Octagon increased its rate of return from 19 per cent to 60 per cent. Quote Tweet. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. Level 4, Hayman Kronfeld Building Director, PFI and PVC (since 2023) Trustee, PDSRA and PETF (since 2023) . Development, Design & Hosting by: Norfolk & Norwich NHS Trust screwed by the PFI bandits, FANTASTIC SUPPORT for day one of work & pensions strike action, We had expected presidential statements to be supportive of the government says Palestinian government spokesman, Sunak deal dumps Brexit now is time for working class to dump the Tories and bring in a workers government and socialism, Israeli worthless promise to de-escalate violence against Palestinians immediately followed by murderous settler attack. The hospital's hands are closely bound when it comes to making 22m of cuts this financial year and getting closer to budget. Of course, it can not police every post, it is up to us the user to take care of what we believe. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. "The PFI would like to congratulate Tracey Forfa on being named the new director of the FDA's CVM," said Dana Brooks, president and chief executive officer of PFI. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. The project was the first large PFI hospital scheme in the NHS. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. 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. 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. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. Vercity also employs talented senior finance experts, comprising finance directors, operations managers, management accountants and financial controllers. It mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. The Government cites too the model of Alzira in Spain where a consortium of private companies not only financed and built facilities but also delivered health services. Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. PFI, it could be said, underlines that austerity is a political choice rather than a necessity. I was against it in principle,' he said. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. This site is part of Newsquest's audited local newspaper network. Semperian Executive Emma Lancaster Managing Director of Assurance Services Becky Brunt Managing Director of Business Support Alan Birch Chief Executive Officer Andrew Rhodes Deputy Chief Executive Jonathan Simpson Chief Finance Officer Gary Brown Chief Operating Officer Richard Little Chief Investment Officer Colin Anderson Group Counsel Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. Carolyn recently joined PFIs Board in August 2022. As a subscriber, you are shown 80% less display advertising when reading our articles. Nirali has completed a Bachelor of Commerce and Property conjoint degree from the University of Auckland and is a Chartered Accountant. 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. This is not some exceptional example of the unacceptable face of capitalism. The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. Furthermore, the catch-all of commercial confidentiality has erected a firewall. 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. 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. The contract is due to run until 2037. Start your Independent Premium subscription today. If you have a complaint about the editorial content which relates to There are fewer junior doctor offices and overnight rooms. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. According to our data, the highest paying job at Octagon is a VP of Human Resources at $145,000 annually while the lowest paying job at Octagon is an Account Coordinator at $12,000 annually. Director of Thomson Reuters from 2012 until 2020. These adverts enable local businesses to get in front of their target audience the local community. ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. Sav joined the PFI team as Property Manager in early 2022. Good Morning Britain. The way to do this is for all health workers to demand that their unions stop all the job and bed cuts and the ward and hospital closures with industrial action to bring down the Blair government, the sponsor and protector of the PFI and private sector bandits. Chair of our Compensation . Full Fact is a registered charity (no. All Simon Woodhams Craig Peirce Ewan Cameron Sarah Beale Anthony Beverley David Thomson Greg Reidy This reduces the scope of savings initiatives,' it said. Before joining PFI, she worked with the MacArthur Foundation as Country Director where she was responsible for the Foundation's grants in India. Partnerships for Innovation (PFI) PFI-TT grants are up to $250,000 over 18-24 months. The Octagon was a suitable home for a president. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. When hospitals are so full that there are no intensive care beds, no hospital beds at all, and essential operations are being cancelled because there's simply no one to do the surgery, then every option carries undue risk".[23]. The PFI contract was entered into on 8.1.1998 for a duration of 60 years at an estimated value of 144 000 000 GBP with Octagon. And in a 2004 long read for Private Eye the late Paul Foot exposed the seedy underbelly of its history. The Octagon Center for the Arts is a non-profit community art center in the heart of downtown Ames, Iowa. The Norfolk and Norwich University Hospital. The Norfolk and Norwich University Hospital has been visited by a number of notable people in public life; On this Wikipedia the language links are at the top of the page across from the article title. Director since February 2018, last re-elected May 2021. 2000: The N&N becomes the first big hospital to be built in the NHS under the Private Finance Initiative (PFI). HP10 9TY. Norfolk and Norwich University Hospitals NHS Foundation Trust Arthur South Day Procedure Unit entrance Ethical Sales and Marketing Today's report draws on a survey of public authorities managing PFI contracts, 2 who are largely local bodies such as NHS trusts and local authorities. has the same accountability of Pembinaan BLT Sdn. 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. It was a persuasive argument which seduced many. Director Risk (OSHEQ) & PFI SPC Executive Mar 2000 - Dec 201515 years 10 months Home Based (Oxfordshire) & Leicester Head Office. If your agency is in need of additional manpower and you cannot handle it in-house (current employees, overtime, or temp/term appointments) and contractors are too expensive or take too long to setup, then PFI may be a great alternative. Pamela works closely with the Property team and other members of the Finance team of PFI. 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. I also wanted to know why they thought the former PM was profiting from the private finance initiative (PFI) deal which funded the NNUHs construction in 2000. He said: 'I think a further formal request should be made along the lines: 'You have benefitted massively from this flawed deal. Email tom.bristow@archant.co.uk, This website and associated newspapers adhere to the Independent Press Standards Organisation's Madeline Serpico US Chief Executive Officer-Multinational Clients. Octagon Brazil. A Gannett Company. Board of Directors; Open Architecture; Collective Intelligence; Corporate Governance; Supplier Management; Menu Search. And why are they asking about it now? At the end of the contract, ownership of the hospital will pass to the NHS. Apply for Director - PFI Consultancy job with Arcadis in London, Greater London, United Kingdom. Theragone ailesi Octagon Odun Mangaln gururla sunar!Keyifli ve lezzetli anlarn olmazsa olmaz Octagon odun mangaln hi byle grmediniz!Theragone ailesi. We urge you to accept the moral case for offering a share in this gain'.'. There are currently over 700 PFI contracts and the bulk will start to expire from 2025. Innisfree paid 5.8m to its eight directors in 2015, including 3.2m to one unnamed director, according to its financial report. Notice Details. The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. PFI is an NZX listed property vehicle focused on the industrial sector. If you are dissatisfied with the response provided you can Director - PFI Advisory Zeemac Vehicle Acquisition & Fleet ServicesSouth East, South-East District, Botswana Apply Join or sign in to find your next job Join to apply for the Director - PFI. 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'. Nirali joined PFI as Assistant Accountant in 2016. 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. Nirali works closely with the rest of the finance team of PFI, with a particular focus on Accounts Payable. "[10], The hospital neighbours the constituency of South Norfolk MP Richard Bacon, also a member of the Public Accounts Committee. Beyond seemingly populist rhetoric, the real story of PFI reveals that RBS alongside other global banks, notably HSBC, were instrumental in what Sir Howard has effectively labelled a great heist. Corporate and commercial: Birmingham Meanwhile, Innisfree chief executive David Metter takes home millions in pay and dividends each year. Chairman of Imperial College Healthcare Sir Richard Sykes has previously pointed out that Barts Health is paying over 100m in interest a year before they see a single patient. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. Registered in England & Wales | 01676637 |. Simon was appointed as Chief Executive Officer of PFI in January 2019. Full Fact is a registered charity (no. [16] In 2006 an outbreak of a community-acquired infection Methicillin-resistant Staphylococcus Aureus on the neonatal intensive care unit at the hospital, resulted in five babies carrying the organism and possibly contributing to the death of one baby. Photo: Parliament TV. 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. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. All 100%. Collectively our team has over 120 years of property experience, andthe key individuals have extensive experience in the ownership, management and development of industrial property. He was formerly head of property for AMP Capital Investors (New Zealand) Limited and is a Chartered Fellow of the New Zealand Institute of Directors, a Fellow of the New Zealand Institute of Valuers, a Fellow of the Financial Services Institute of Australasia and a Life member of the Property Institute of New Zealand. But why does it then wrongly name the Blairs as company directors? And he urged the hospital to request money back from Octagon. Total Quantity or Scope. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. Octagon Board of Directors. Ewan joined PFI as Asset/Development Manager in 2015and was promoted to Portfolio Manager in 2020. Director since 2012, last re-elected May 2021. Facebook shows people information which is the most liked or shared not which is the most accurate. 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. [2] The Trust told senior doctors, "We would like you to know that the trust will support you in making difficult decisions that may be the least unsafe decision, and we would appreciate your cooperation over the coming days with this". A Gannett Company. Prior to that, Rodrigo was involved in the management of a nationwide government property portfolio and worked in commercial management within the aerospace industry in Germany. However, it is not true that Tony or Cherie Blair are, or have ever been, directors of the companies that make up the Octagon Healthcare Group. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. As a result, only specific contractors are allowed to change or fix certain equipment or fittings, such as a plug socket or a light bulb. The hospital won the Building Better Healthcare Award[5] for Best Designed Hospital in September 2002. The key individuals have extensive experience in the . 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. 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. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. You can read more about thisand find out how to report Facebook contenthere. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. District I (Northwest): Ken Wise, 3S66 28oth St., Lytton, lA 50561-7574. Shop Similar at WAYFAIR Up to 70% OFF Every Day at Wayfair. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. Its restructuring entailed redundancies for hundreds of staff and down-banding of others. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. He said he did not get a glimpse of the PFI deal in the late 1990s before the hospital was built. inaccuracy or intrusion, then please All directors are appointed by shareholders at PFIs annual meeting. The chief executive of Healthwatch Norfolk, Alex Stewart, said: 'If the money could be put back into services, people would potentially be seen far more quickly.'. Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. "[11], In 2006/07, the trust projected a savings target of 14.8 million but recorded a surplus of 867,000 by the end of the same financial year. Jodie joined PFI as Property Manager in 2012and was promoted to Asset Manager in 2020. Prior to this,Simon was General Manager of PFI from mid-2013, and prior to that, General Manager of Direct Property Fund (DPF) before PFI's merger with (DPF) in 2013, having joined McDougall Reidy & Co Limited as Development Manager in 2005. This website and associated newspapers adhere to the Independent Press Standards Organisation's A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. Shop Similar at AMAZON. Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. Be seen as the team's 'go to' subject matter expert in relation to PFI. These adverts enable local businesses to get in front of their target audience the local community. It promotes hate, damages peoples health, and hurts democracy. 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