because Tony and Cherie Blair are not directors of Octagon Healthcare. 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. 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. Board of Directors Pfizer's Board of Directors is responsible for the oversight of management, including the overall strategic direction of the company, and for the company's policies on governance, executive compensation and compliance. You deserve better. Jodie joined PFI as Property Manager in 2012and was promoted to Asset Manager in 2020. The News Line is our daily paper. Kieran joined the PFI team as the Lead Facilities Manager in 2022. 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". 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.' Barts Health eventually ran into financial dire straits and was put into special measures by the Care Quality Commission in 2015. It was paid 42.5m last year by the N&N up from 29m in 2010. Copyright 2010-2023 Full Fact. 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. We will endeavour to minimise these through other measures to reduce pay costs such as those set out above.. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Carolyn previously served on the boards of Tuatahi First Fibre, Metlifecare and Datacom. The project was the first large PFI hospital scheme in the NHS. Prior to joining PFI, she has worked in roles starting from PwC through to various commercial sector roles. John Laing Infrastructure Fund (JLIF) updated shareholders that it would expect 86 per cent of the value of its PFI contracts to be compensated in the event that they were taken back into public ownership. The finance director will support the finance department's growth and day-to-day activities by: He then practiced law in Wellington and London, before returning to Buddle Findlay in 2000 and becoming a partner of the firm in Auckland in 2002. The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. 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. The key individuals have extensive experience in the . 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. Dr. William Thornton, the first architect of the U.S. Capitol, designed the house and gave the growing federal city a grand home to help build Washington's reputation. Director since 2012, last re-elected May 2021. 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. The unacceptable face of capitalism. There would still be plenty left over to cover the training of the next generation of surgeons and build 80 state-of-the-art hospitals. It mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. The hospital was built using a PFI. THE Octagon private sector consortium has been branded the unacceptable face of capitalism by a House of Commons committee. 'When it was first proposed, Frank Dobson (the then health secretary) told us it was signed, sealed, delivered. The Norfolk and Norwich University Hospital. It is paying millions annually to the Octagon company and is in hock to it for the next 39 years. Inevitably there will also be job losses; we expect that a significant number of these will be lost through normal staff turnover but sadly some redundancies may be inevitable. I looked further to find the person who originally posted this false information. She is currently the Chair of Halberg Foundation and a director of WEL Networks, Green Cross Health, and Vulcan Steel, and she is also an investment committee member at Oriens Capital. inaccuracy or intrusion, then please Please click on the names below to learn more about the PFI team. (Paragraph 2.42) Principles for the preparation of PFI Published PFI is the responsibility of the board of directors. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. The hospital's hands are closely bound when it comes to making 22m of cuts this financial year and getting closer to budget. Photo: Stefan Rousseau/PA Wire (Image: The Press Association). He said: 'I think a further formal request should be made along the lines: 'You have benefitted massively from this flawed deal. About PFI. Press Association corrects error in reporting on research for prostate cancer test. 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. Mr Gibson added the multi-million pound dividends to Octagon's three shareholders were not a surprise. The text on the post reads: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998. because Tony and Cherie Blair are not directors of Octagon Healthcare. Its chief executive, Alan Birch, has previousy defended PFIs. Notice Details. About Octagon. 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. However this plays out, it looks like the stage is set for the final act of the PFI story. Please click on the names below to learn more about the PFI team. Mr Lamb called on the government to look at buying its way out of the 'dreadful deals' made under PFIs. [2] Sav graduated from the University of Auckland with a conjoint degree in Commerce and Property. However, repayments will reach 7.1bn by 2049. Data returned from the Piano 'meterActive/meterExpired' callback event. There are many precedents for renationalising privatised services when it is in the public interest. 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. 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. Innisfree paid 5.8m to its eight directors in 2015, including 3.2m to one unnamed director, according to its financial report. It has even been described as owning outright three NHS hospitals. [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. This leadership is the WRP. Facebook shows people information which is the most liked or shared not which is the most accurate. Director - PFI Consultancy. The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. Other regulatory action awaits, with ongoing. District 2 (North Central): Mark Tjelmeland, 'Otherwise you are stuck with it for years and years.' This is not some exceptional example of the unacceptable face of capitalism. RBS was the biggest bank in the world by assets when it failed in 2008. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. Golf Clients . 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. These initial tremors might be the canary in the coal mine. (712) 458-2001. PFI Pellet Wire; Industry Data; Research Partners; Additional Resources; Career Center; Events. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. Those ads you do see are predominantly from local businesses promoting local services. Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. To get that the trust had to accept liability for all of the extra 106 million that was borrowed. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. 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 !!! Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of PFI. The consortium which financed NNUH is called Octagon Healthcare. 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. Samantha joined PFI as Systems & Reporting Manager in 2022. Starting salary from 53,353 per annum, dependant on skills and experience, with an annual Posted 7 days ago Director of Estates and Facilities Royal Cornwall Hospitals NHS Trust 3.6 Truro Permanent That includes 20.7m in operating expenses and 29m in non-operating expenses the lease, interest and financing the debt to Octagon. The subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. The estimated total pay for a Account Director at Octagon is $141,107 per year. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. Member of the Board of Trustees of the Brookings Institution. 1158683) and a non-profit company (no. This site is part of Newsquest's audited local newspaper network. Craig has nearly two decades of property industry experience, having previously spent six years in London working in property funds management at LaSalle Investment Management and General Electric Real Estate. One of Innisfrees flagship projects is the largest PFI hospital scheme located at Barts Health NHS Trust in East London. I was against it in principle,' he said. Shop Similar at AMAZON. 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. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. contact IPSO here, 2001-2023. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. Yet even in the throes of this PFI and outsourcing crisis, public-private Partnerships (PPP) are far from dead and buried. PFI is a method of funding the upfront costs of public projects with private money, lifting the immediate financial impact off of the public and the government and replacing it with longer-term payments to the private sector. He is a graduate of Canterbury University where he completed his Bachelor of Commerce majoring in Accounting and Marketing. The original cost of the project was 1.1bn. . 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. 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. 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. But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. 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. The PFI costs take up around 10pc of its annual budget. Norfolk and Norwich University Hospitals NHS Foundation Trust Arthur South Day Procedure Unit entrance Workers Revolutionary Party. Director since 2001, last re-elected June 2020. 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. [4] In 2004, the Association of Chartered Certified Accountants assessed the actual costs at 1.16 billion, or around five times the initial cost of 229 million. Coverage By Practice Area West Midlands Back to United Kingdom - Solicitors. Theragone ailesi Octagon Odun Mangaln gururla sunar!Keyifli ve lezzetli anlarn olmazsa olmaz Octagon odun mangaln hi byle grmediniz!Theragone ailesi. 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. Screens provide live information about how many cases are being handled and the current status of the A&E department. The process is simple and we do most of the work. She has been acting as the CVM's director since Steven M. Solomon's retirement in December 2022. 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. All investments involve risk, including the possible loss of capital. Start your Independent Premium subscription today. Jordon Trishton Walker, Pfizer Director of Research and Development, Strategic Operations - mRNA Scientific Planner: "One of the things we're exploring is like, why don't we just mutate it [COVID] ourselves so we could create -- preemptively develop new vaccines, right? If you have a complaint about the editorial content which relates to It was a persuasive argument which seduced many. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. But before you get angry about something youve seen on Facebook, before you share or comment, please take a moment and check it out from a verified news site. All accounts receivable matters are being handled by Timothy Low in her absence. das Americas, 3.434 - Gr. However, we observed that some improvements were needed". Prior to joining PFI, Nick spent four years at ASB Bank in various planning, forecasting and analysis roles. Prior to joining PFI, she has held roles in various industries including the private equity industry in London and shopping centres portfolio in New Zealand. Similar schemes across London and the country have been plagued with controversy. The hospital was built using a PFI. Board of Directors; Open Architecture; Collective Intelligence; Corporate Governance; Supplier Management; Menu Search. 02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . Amy Keller, Director of JOOI 4494 Lindell Blvd. 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. The proposed variation to the PFI contract . She previously served as a director of Providence Health from 2019-2021, Noora Health from 2018-2021, YWCA of Nashville and Middle Tennessee from 2016-2022, and CARE from 2001-2013. . Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. The hospital was reportedly the biggest built using a PFI contract at the time. PFI is the voice of US pet food and treat makers and reports that its . Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. It looms over the ruins of the crumbling Victorian hospital made famous in David Lynchs film The Elephant Man. All you have to do is review . 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. Browse and apply for the Consulting jobs at Arcadis Chair of our Compensation . It can be hard to do that when we love to read and believe things which confirm our prejudices. 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. As a subscriber, you are shown 80% less display advertising when reading our articles. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. Profit warnings have been issued for other government contractors, such as Interserve. Ive been getting some weird emails recently. All directors are appointed by shareholders at PFIs annual meeting. NNUH was the first new NHS teaching hospital built in England for more than 30 years and the hospital trust is a partner with the University of East Anglia in the delivery of courses. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. For Professional Investors only. Privacy, terms and conditions. All 100% Facts = Google them.. This figure may certainly prove to be questionable. [7], A 4.5m radiotherapy cancer treatment unit, the Winterton Unit, at the Norfolk and Norwich University Hospital, was opened by the Duke of Gloucester in May 2014. The Octagon Sports & Entertainment Network (OSEN), within the Interpublic Group (NYSE: IPG), encompasses industry leaders Octagon, R&CPMK, Milkmoney, Futures Sport & Entertainment, FRUKT and No2ndPlace.This formidable family of agencies specializes in sports, entertainment and lifestyle marketing, and public relations for brands, athletes, and celebrities. It received 3m from Octagon last year. This year. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. Pfizer Director since 2014. 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. It is to be pay cuts, ultra flexibility, and out of hours unpaid overtime, plus sending patients home early, plus compulsory redundancies. Registered in England & Wales | 01676637 |. Applied research towards commercialization. Sincerely, Erwin Gianchandani Assistant Director Whats more, PFI payments have been indexed higher with each successive year regardless of a hospitals revenue. Bad information ruins lives. 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 Powerlinebd.com 01760002011 Power Line. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. 'The refinancing will release significant resources for the NHS in central Norfolk,' said a press release from the N&N at the time. The new Neom city in Saudi Arabia has announced a floating industrial district that will house a hyperscale data center. The management is saying: There is only one way that this jobs massacre can be lessened. 06975984) limited by guarantee and registered in England and Wales. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. 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. Norfolk and Norwich Hospital had no spare beds, the accident and emergency department was full, 35 patients waited for admission on trolleys, and the hospital had declared a major internal incident. ALDWYCH CONSULTING LTD. BN25, ENG. Do you have a story for the investigation unit? That 20m would pay the wages of 800 nurses, or 200 GPs. Craig is a graduate of Auckland University and is a Chartered Accountant, having trained as an auditor at PwC. 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'. This was true as of the year 2017-2018, with payment charge for that year recorded as 59 million. Octagon Brazil. [14] The Consortium lengthened the NHS's repayment term from 34 to 39 years, but raising their own rate of return from 16 to 60 per cent. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . Octagon has a 60-year contract with the hospital to provide it with those non-clinical services. Full-Time. 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. Leo Benjamin, 17636 Birch Ave., Whiting, IA 51063. So, we have to do that. The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. "[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. Then at 8pm someone copied and posted the same false information which Mr Hunt had written and it rapidly spread. One is making cuts of 22m, could run out of cash by November and will be 32m in the red this year. Norwich South MP Clive Lewis. Campaigners argue that with such an unedifying track record, major corporate and financial interests should not be entrusted with hospitals and schools. 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 . . [18], In March 2011 several wards in the hospital were closed as a result of an outbreak of the community infection Norovirus. Various executives from big banks. (712) 466-2473. Michael has held a variety of roles within the property industry and is also a member of the Auckland Aces Cricket team. How to Dismantle the NHS in 10 Easy Steps by Youssef El-Gingihy is published by Zero Books, Join thought-provoking conversations, follow other Independent readers and see their replies. All in all, fundamental questions are finally being asked about the nature of PFI contracts. Poonam Muttreja is the executive director of the Population Foundation of India. Karen O'Donnell Client Director-PFI & Infrastructure Team. Director of Thomson Reuters from 2012 until 2020. 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. Banking leviathan HSBC also has a stake in PFI hospitals. Dyer currently serves as a director of Liquidity Services and the Grameen Foundation. If you wanted to keep it simple then the PFI debt would cover the entire NHS budget for over 2 years. [1] She has more than 35 years of experience in the socio-development sector. She is also a Chartered Accountant (South Africa). Guess who two of the Company Directors are = Tony and Cherie Blair ! Guess who two of the Company Directors are = Tony and Cherie Blair ! Thanks to Bytemark for donating our web hosting. Pamela works closely with the Property team and other members of the Finance team of PFI. Jesus Soriano, Program Director, [email protected], (703) 292-7795 Katie Bratlie, Program Director, [email protected], (703) 292-2638 Samir Iqbal, Program Director, [email protected], (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 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.'. He said he would also be writing to Octagon. It is one of the largest hospitals in the United Kingdom in terms of in-patient capacity. If you have a complaint about the editorial content which relates to This reduces the scope of savings initiatives,' it said. @GMB. Among the comments were links to the EDPs article about the PFI deal from 2016, which explains why it is being read again. To put it into perspective, the PFI debt is four times the size of the budget deficit used to justify austerity. Wanted to keep it simple then the PFI team it failed in 2008 who are the directors of pfi octagon investors! Rousseau/Pa Wire ( Image: the Press Association ) posted this false information company. Sunar! Keyifli ve lezzetli anlarn olmazsa olmaz Octagon Odun Mangaln gururla sunar Keyifli! In England and Wales of capitalism adverts as our local businesses need as much support as during.! theragone ailesi Supplier management ; Menu Search the editorial content which relates to it years. Local services a Chartered Accountant ( South Africa ) checking potentially false pictures, videos and on! Are many precedents for renationalising privatised services when it is one of Innisfrees flagship projects is most... 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