Focused on multidisciplinary, multi-organizational teams. 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. 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 finance director will support the finance department's growth and day-to-day activities by: 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. 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. All accounts receivable matters are being handled by Timothy Low in her absence. Bhd. This site is part of Newsquest's audited local newspaper network. Directors should identify why the has the same accountability of Pembinaan BLT Sdn. Photo: Parliament TV. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. Genevieve (Gen) joined PFI as Office Administrator in 2022. For Professional Investors only. To get that the trust had to accept liability for all of the extra 106 million that was borrowed. Privacy, terms and conditions. It promotes hate, damages peoples health, and hurts democracy. Rodrigo joined PFI as Asset Manager in 2020 and was promoted to Asset and Development Manager is 2022. Director - PFI Advisory Aldwych Consulting Ltd London, England,. As Alan Milburn the former Labour Health Secretary described by Private Eye as an almost maniacal convert to PFI put it: Its PFI or bust.. contact IPSO here, 2001-2023. The hospital is part of the Norfolk and Norwich University Hospitals NHS Foundation Trust. For the purposes of that scheme, weve rated this claim as partly false . Salaries posted anonymously by Octagon employees. 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. A system of environmental signage provides location-specific information for patients. 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. 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. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. 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. Octagon is simply fulfilling a contract which was agreed to by the hospital, but concerns have been raised about how much money it is getting. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. Naturally, there are very serious concerns about jobs. '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. The hospital's hands are closely bound when it comes to making 22m of cuts this financial year and getting closer to budget. Providing technical leadership to grow the teams capability. Director - PFI Consultancy. It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. If we're gonna do that though, there's a risk of . 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. Leo Benjamin, 17636 Birch Ave., Whiting, lA Sl063. 1. Angela is an experienced director and executive in property investment and commercial developments. PFI is an NZX listed property vehicle focused on the industrial sector. PFI is the voice of US pet food and treat makers and reports that its . 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. Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. 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. He said he did not get a glimpse of the PFI deal in the late 1990s before the hospital was built. Browse and apply for the Consulting jobs at Arcadis It is a socialist paper and gives particular coverage to Trades Union and International news. [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. Director since 2012, last re-elected May 2021. 'This is what it was all about at the beginning,' he said. He was until recently a member of Buddle Findlay's board for seven years. PFI Board of Directors News, page 8 Committee Updates, page 11 PFI PELLET FUELS INSTITUTE 1901 N. Moore St., Suite 600 Arlington, VA 22209 (703) 522-6778, FAX: (703) 522-0548 www.pelletheat.org 2012 Issue #2 President's Message As we draw closer to the end of summer, a few important [20] The inspection report stated "People who use the service can be assured that they will be provided with respect, dignity and privacy by the staff during their stay in hospital. Good Morning Britain. Photo: PA Wire. Innisfree paid 5.8m to its eight directors in 2015, including 3.2m to one unnamed director, according to its financial report. Defense Agency Overview. He said he would also be writing to Octagon. The key individuals have extensive experience in the . All directors are appointed by shareholders at PFI's annual meeting. The management is saying: There is only one way that this jobs massacre can be lessened. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. 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. PFI Pellet Wire; Industry Data; Research Partners; Additional Resources; Career Center; Events. Corporate and commercial: Birmingham 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. Guess who two of the Company Directors are = Tony and Cherie Blair ! Do you have a story for the investigation unit? Pfizer Director since 2014. PFI Board of Directors Correspo11de11ce to the PFI directors' addresses is always welcome. Press Association corrects error in reporting on research for prostate cancer test. The initial cost of 229m is paid for through Octagon. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. The chief executive and founder of Innisfree, David Metter, appeared in the Sunday Times rich list in 2013 with an estimated worth of 80m, made from investments in a number of PFI projects. Various executives from big banks. Poonam Muttreja is the executive director of the Population Foundation of India. Notice Details. The PFI director mentors National Guard or Reserve Service Members in the program to . 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.'. We believe that if we took no other action to reduce pay and other costs we would need to lose approximately 450 posts during this year. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. 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. 3 It has found that government does . Octagon Board of Directors. The consortium which financed NNUH is called Octagon Healthcare. The N&N, which is in financial special measures, estimates it is paying Octagon 57m this year. 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. The hospital says it is paying Octagon around 57m a year. Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. As a subscriber, you are shown 80% less display advertising when reading our articles. Barts Health eventually ran into financial dire straits and was put into special measures by the Care Quality Commission in 2015. 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. From a 5m surplus in 2013/14, the N&N reported its first deficit in 2014/15 of almost 10m followed by a 21m deficit last year. 2006: The refinancing deal goes before the Public Accounts Committee (PAC) and is fiercely criticised. It mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. It only got a small amount of traction. Ewan is responsible for leading the team that manages PFI's property portfolio. 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. The project was the first large PFI hospital scheme in the NHS. It looms over the ruins of the crumbling Victorian hospital made famous in David Lynchs film The Elephant Man. Editors' Code of Practice. Jodie previously held roles in valuation, commercial and shopping centre management. The unacceptable face of capitalism. Golf Clients . That person was called Ken Price. He said: 'I think a further formal request should be made along the lines: 'You have benefitted massively from this flawed deal. Healthcare associated infections and black alerts, Norwich Evening News, p6, 15 September 1998, Norfolk and Norwich University Hospitals NHS Foundation Trust, Association of Chartered Certified Accountants, Commission for Architecture and the Built Environment, Methicillin-resistant Staphylococcus aureus, "Norfolk and Norwich University Hospital", "Private Finance Initiative Norfolk and Norwich University Hospital", "Better Public Building Award finalists, 2002", "A&E department redesign 'cuts aggression by half', "Photo gallery: Royal visitor opens new cancer treatment centre at N&N", "David Metter: Skiing in the Alps, the King of the PFIs who owns 28 hospitals and a motorway", Superbugs MRSA and Clostridium difficile killing record numbers of patients, Hospital put on alert as ambulances stack up, Norfolk and Norwich Hospital told to improve elderly patients nutrition, "Care Quality Commission, Dignity and nutrition for older people Review of compliance", "Graphic: Praise after three Norfolk hospitals pass two years as MRSA free", "Doctors told to use 'least unsafe' option in Norwich hospital", "Norfolk and Norwich University Hospitals NHS Foundation Trust Keys to new hospital handed over", "Norfolk and Norwich University Hospitals NHS Foundation Trust Prime Minister visits NNUH", "BBC NEWS - UK - England - Loyd Grossman goes on the wards", "Norfolk and Norwich University Hospitals NHS Foundation Trust Harry Potter star's hygiene message", "BBC NEWS - UK - England - Norfolk - New cancer centre opened", "BBC NEWS - UK - England - Norfolk - Queen to open new hospital", "Norfolk and Norwich University Hospitals NHS Foundation Trust Royal College Praises Emergency Assessment Unit", "Norfolk and Norwich University Hospitals NHS Foundation Trust Health minister to visit NNUH", "Norfolk and Norwich University Hospitals NHS Foundation Trust Official opening of the Norwich Radiology Academy", "Norfolk and Norwich University Hospitals NHS Foundation Trust Esther Rantzen welcomes new care plan for terminally ill", "Norfolk and Norwich University Hospitals NHS Foundation Trust Hospital staff star in TV series Kingdom", "Norfolk and Norwich University Hospitals NHS Foundation Trust Bishop of Thetford to visit renal patients at NNUH", Norfolk and Norwich University Hospital NHS Foundation, Royal London Hospital for Integrated Medicine, National Hospital for Neurology and Neurosurgery, University College at Westmoreland Street, Walton Centre for Neurology & Neurosurgery, Royal National Hospital for Rheumatic Diseases, Robert Jones and Agnes Hunt Orthopaedic Hospital, School of Art History and World Art Studies, https://en.wikipedia.org/w/index.php?title=Norfolk_and_Norwich_University_Hospital&oldid=1138386975, Articles with dead external links from August 2021, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, Neonatal Intensive Care, Foetal Medicine, Orthopaedics, Cancer, Plastic Surgery, Rheumatology, Ophthalmology, Paediatric Medicine and Surgery, September 1998, Secretary of State for Health, December 2002, food critic and TV presenter. To reduce this number we need to significantly reduce the pay bill; there are a number of ways of doing this including better management of sickness and greater flexibility around rosters, shift patterns and out of hours working for all staff groups. Other regulatory action awaits, with ongoing. Madeline Serpico US Chief Executive Officer-Multinational Clients. Nirali joined PFI as Assistant Accountant in 2016. Carolyn recently joined PFIs Board in August 2022. 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. Listed on 2023-02-23. [22], In December 2019 the hospital was unable to provide a safe service for patients. All Simon Woodhams Craig Peirce Ewan Cameron Sarah Beale Anthony Beverley David Thomson Greg Reidy In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. 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. Octagon has a 60-year contract with the hospital to provide it with those non-clinical services. in the PFI second . At the end of the contract, ownership of the hospital will pass to the NHS. Before joining PFI, she worked with the MacArthur Foundation as Country Director where she was responsible for the Foundation's grants in India. Octagon is owned by three shareholders called Innisfree (which owns 36.84pc), 3i Infrastructure Seeds Assets Ltd (which also holds 36.84pc) and Semperian (which owns 26.32pc). Guess who two of the Company Directors are = Tony and Cherie Blair ! 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 board currently has five directors, four of whom are independent directors and one non-executive director. contact the editor here. Press Association corrects error in reporting on research for prostate cancer test. 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. 02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . (712) 466-2473. As a subscriber, you are shown 80% less display advertising when reading our articles. The PFI costs take up around 10pc of its annual budget. This leadership is the WRP. 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. It promotes hate, damages peoples health, and hurts democracy. Chair of our Compensation . 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. 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. These adverts enable local businesses to get in front of their target audience the local community. Nirali has completed a Bachelor of Commerce and Property conjoint degree from the University of Auckland and is a Chartered Accountant. But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. The total bill for NHS PFI hospitals is ultimately projected to rise above 79bn, way in excess of original build costs of 11.4bn. The earliest post I could find was from May 4 at 6pm from someone called Bob Hunt who mainly posts about Brexit and Muslims on his page. Prior to joining PFI, Kieran has held several Senior Facilities Manager roles in the commercial, industrial and retail industry. Director Risk (OSHEQ) & PFI SPC Executive Mar 2000 - Dec 201515 years 10 months Home Based (Oxfordshire) & Leicester Head Office. If you have a complaint about the editorial content which relates to Provide Your Feedback on Law Firms. das Americas, 3.434 - Gr. During that time, he took Freightways through several ownership changes and by the end of his time as Managing Director, the company had achieved significant growth resulting in a market capitalisation of $1.2 billion. There are fewer junior doctor offices and overnight rooms. 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. 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. Edward Leigh, chairman of the committee, describes the deal as the 'unacceptable face of capitalism'. 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. MPs on the public accounts committee say Octagon used a refinancing deal of the Norfolk and Norwich PFI (Private Finance Initiative) hospital project to boost the investors return by a gigantic 153 million, and to increase the liability of the hospital trust to 257 million if it needed to terminate the contract early. In January 2019, Craig was appointed asChief Finance and Operating Officer. 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. 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. Pamela joined PFI as Finance Manager in 2020. And he urged the hospital to request money back from Octagon. Start your Independent Premium subscription today. It is paying millions annually to the Octagon company and is in hock to it for the next 39 years. Emma works with all parts of the company and provides support to the Head of Sustainability and Operations in a varied role dealing with risk and compliance, health, safety and wellbeing, governance support, and sustainability. This is not some exceptional example of the unacceptable face of capitalism. Privacy, terms and conditions. Nirali works closely with the rest of the finance team of PFI, with a particular focus on Accounts Payable. At the end of the contract, ownership of the hospital will pass to the NHS. I was against it in principle,' he said. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. Nick joined PFI in 2018 as a Senior Analyst and was promoted to Financial Planning & Analysis Manager in 2020. A report to the N&N's board warns it may struggle to find savings. 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. Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. 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 !. The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! The hospital was reportedly the biggest built using a PFI contract at the time. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. We urge you to accept the moral case for offering a share in this gain'.'. All this has thrown up searching questions, not least around staff redundancies and pensions, bailouts, inflated dividends and executive remuneration. She astutely points out the great irony that PFI was once hailed as the largest NHS hospital-building programme; in fact it is likely to end up becoming the largest hospital closure programme. The NHS is on its knees. One is making cuts of 22m, could run out of cash by November and will be 32m in the red this year. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. The estimated total pay for a Account Director at Octagon is $141,107 per year. 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. On 11 January 1998, Prime Minister Tony Blair announced the go-ahead for the construction of a 214 million, 809 bed, new hospital in a broadcast from Tokyo on the BBC's Breakfast with Frost show. Furthermore, the Government is pushing through Accountable Care Organisations (ACO), a form of PPP based on an American model of healthcare. "[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. It can be hard to do that when we love to read and believe things which confirm our prejudices. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. 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.' Powerlinebd.com 01760002011 Power Line. All directors are appointed by shareholders at PFI's annual meeting. This year it is paying the firm which built it 57m under the PFI deal. One recurring theme in all this and in many of the financial scandals following the 2007-08 crash has been the clean bill of health given by auditors to firms that subsequently found themselves in trouble. 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. https://infogr.am/f39470fc-27ed-4451-954a-457e1be6b4f0, The N&N under construction in July 2001 (l). 'Otherwise you are stuck with it for years and years.' 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 The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. Board of Directors; Open Architecture; Collective Intelligence; Corporate Governance; Supplier Management; Menu Search. You deserve better. Karen O'Donnell Client Director-PFI & Infrastructure Team. And that right was only obtained by taking on huge extra potential liabilities. It was a persuasive argument which seduced many. In addition to his Managing Director role, Dean was also a director of the public policy think tank The New Zealand Initiative and its predecessor the New Zealand Business Roundtable from 2011 to 2015. The N&N owes Octagon just under 200m which it is currently paying off at a rate of around 3m a year. (712) 466-2473. 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. 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. Read more about our Board of Directors here. [15], Between 2002 and 2006 the hospital saw 65 patients die from Methicillin-resistant Staphylococcus aureus (MRSA), making it one of the ten worst hospitals in the United Kingdom in terms of deaths from the superbug. Director since 2001, last re-elected June 2020. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. 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. 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Is rehabilitating PPP is called Octagon Healthcare Treasury and was put into special measures the! The Elephant Man as to what kind of resolution might emerge when there are serious. Adverts enable local businesses to get in front of their target audience the local community has held several Senior Manager... 'S property portfolio of original build costs of 11.4bn ) joined PFI as property Manager 2019... Being handled by Timothy Low in her absence had to accept liability for all of the hospital will to... By 25pc. [ 8 ] Data ; research Partners ; Additional ;... To increase capacity at the beginning, ' he said he would be! To rise above 79bn, way in excess of original build costs of 11.4bn he.... As the 'unacceptable face of capitalism looms over the ruins of the hospital to request back... Those non-clinical services of austerity, PFI began to unravel not get a glimpse of the team! To find savings in hock to it for the taxpayer is over 300bn infrastructure! 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