As a subscriber, you are shown 80% less display advertising when reading our articles. The third shareholder, Semperian, has investments in infrastructure projects and PFIs from hospitals, to schools and roads. What you will be doing. The Norfolk and Norwich University Hospital. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, PFI debt for the British taxpayer is more than 300bn for infrastructure projects, with a value of 54.7bn. [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. It hopes to pay Octagon off by 2037 the earliest opportunity it has to end the contract. . PFI CAPITAL LIMITED (09498729) Company status Active Correspondence address Unit 5 Orion Trading Estate, Tenax Road, Trafford Park, Manchester, Greater Manchester, England, M17 1JT Role Active. It means Octagon's turnover is increasing every year. Do Rishi Sunaks claims about hospital discharge funding stack up? The initial cost of 229m is paid for through Octagon. Now the unheeded prophecies of the Cassandras have come true. Please click on the names below to learn more about the PFI team. 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. . About Octagon. 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. An active participant in setting PFI's overall financial strategy, the finance director will also lead all financial administration, budgeting, financial reporting, fiscal grant management and financial policies and controls maintenance. Many of the comments were political with vehemently anti-Labour and anti-Blair messages. This website and associated newspapers adhere to the Independent Press Standards Organisation's Photo: Parliament TV (Image: Archant). 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 looms over the ruins of the crumbling Victorian hospital made famous in David Lynchs film The Elephant Man. (712) 4S8-2001. 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. 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. For Professional Investors only. There are many precedents for renationalising privatised services when it is in the public interest. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. As one comes out of Whitechapel Tube station, the new Royal London hospital certainly looks impressive. For the purposes of that scheme, weve rated this claim as partly false Theragone ailesi Octagon Odun Mangaln gururla sunar!Keyifli ve lezzetli anlarn olmazsa olmaz Octagon odun mangaln hi byle grmediniz!Theragone ailesi. 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. It later transpired that the process of bringing in PFI had not exactly been transparent. PFI, it could be said, underlines that austerity is a political choice rather than a necessity. 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. All 100%. The domino effect has shades of the 2007-08 financial crisis even though it is clearly not of the same magnitude. Full Fact fights for good, reliable information in the media, online, and in politics. District 1 (Northwest): Ken Wise, 3566 280th St., Lytton, lA 50561-7574. She is also a Chartered Accountant (South Africa). Nirali has completed a Bachelor of Commerce and Property conjoint degree from the University of Auckland and is a Chartered Accountant. Prior to joining PFI, Nick spent four years at ASB Bank in various planning, forecasting and analysis roles. The process is simple and we do most of the work. [4] The Norfolk and Norwich University Hospitals NHS Foundation Trust pays the private PFI Octagon consortium in the region of 41 million a year. The key individuals have extensive experience in the . Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. 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 !!! Rodrigo joined PFI as Asset Manager in 2020 and was promoted to Asset and Development Manager is 2022. 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. Apr 23, 2020 Happy St George's Day to Palestinians, English, Georgians, Serbs, Portuguese, Maltese and Lithuanians everywhere who share his named day! The Octagon Center for the Arts is a non-profit community art center in the heart of downtown Ames, Iowa. Photo: Stefan Rousseau/PA Wire (Image: The Press Association). The total bill for NHS PFI hospitals is ultimately projected to rise above 79bn, way in excess of original build costs of 11.4bn. Director since November 2019, last re-elected June 2020. Philip Green, the long-serving chairman, is named, as are Alison Horner (once head of Tesco's Asia division), Andrew Dougal and Ceri Powell. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. The subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. The N&N is about 3pc of its portfolio. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. 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. The contract is due to run until 2037. For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. 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. All accounts receivable matters are being handled by Timothy Low in her absence. Be seen as the team's 'go to' subject matter expert in relation to PFI. As a subscriber, you are shown 80% less display advertising when reading our articles. Those ads you do see are predominantly from local businesses promoting local services. 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. Event Calendar; PFI Annual Conference. 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. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. 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. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. However, repayments will reach 7.1bn by 2049. Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. Leo Benjamin, 17636 Birch Ave., Whiting, lA Sl063. 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 Since graduating Auckland University in 2013, Luke has held a variety of roles in, commercial, industrial, retail and residential property management. Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. The hospital is currently in the worst financial state in its history. PFI companies are already arming themselves for the prospect of a Corbyn government, as has been recently reported. 1158683) and a non-profit company (no. Notice Details. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. It has even been described as owning outright three NHS hospitals. Posted on January 29, 2018 The Pet Food Institute (PFI), the voice of dog and cat food makers and whose members make 98 percent of U.S. pet food and treat products, today announced that Dana L. Brooks will assume of the role of president and chief executive officer. But at the current rate of payment it would take more than 60 years to clear the debt. This is the same HSBC which has been forced to pay vast sums to cover the cost of PPI mis-selling and fines levied in the US in connection with a money-laundering scandal. All 100% Facts = Google them.. Photo: Stefan Rousseau/PA Wire, Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. Angela is also a qualified lawyer with significant expertise in environment and property law. Angela recently joined PFIs Board in February 2023. Director since 2001, last re-elected June 2020. And he urged the hospital to request money back from Octagon. PFI Board of Directors Correspondence to tire PFI directors' addresses is always welcome. '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. Genevieve (Gen) joined PFI as Office Administrator in 2022. This year. Pembinaan PFI Sdn. [21], In March 2014 the N&N, Norfolk's biggest hospital, marked two years of being MRSA free. The finance director will support the finance department's growth and day-to-day activities by: The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Nick joined PFI in 2018 as a Senior Analyst and was promoted to Financial Planning & Analysis Manager in 2020. HP10 9TY. contact the editor here. 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.. Samantha joined PFI as Systems & Reporting Manager in 2022. 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. HP10 9TY. Jodie is responsible for the asset management of a portfolio of PFI's properties. 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. 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. Mr Lamb called on the government to look at buying its way out of the 'dreadful deals' made under PFIs. The original cost of the project was 1.1bn. The argument went that Labour had inherited public services in such a diabolical state of neglect that there was no alternative to the private financing of whole swathes of infrastructure. 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. "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. Providing technical leadership to grow the teams capability. 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 !!! [2] 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. 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. We urge you to accept the moral case for offering a share in this gain'.'. 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. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. 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. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. 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. It was paid 42.5m last year by the N&N up from 29m in 2010. The hospital won the Building Better Healthcare Award[5] for Best Designed Hospital in September 2002. Dyer currently serves as a director of Liquidity Services and the Grameen Foundation. 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? A Gannett Company. Constantin H. Beier . [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. Octagon Board of Directors. Picture: Archant (Image: Archant 2018). 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. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. She has been acting as the CVM's director since Steven M. Solomon's retirement in December 2022. Chair of our Compensation . 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. 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 PFI director mentors National Guard or Reserve Service Members in the program to . 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. Its restructuring entailed redundancies for hundreds of staff and down-banding of others. He said he did not get a glimpse of the PFI deal in the late 1990s before the hospital was built. A report to the N&N's board warns it may struggle to find savings. 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. None of the firms involved in Octagon responded to our requests for comment. Kieran joined the PFI team as the Lead Facilities Manager in 2022. Quote Tweet. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. 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. If you are dissatisfied with the response provided you can 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. Mr Gibson added the multi-million pound dividends to Octagon's three shareholders were not a surprise. 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. 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. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. in the PFI second . Full-Time. 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. Privacy, terms and conditions. All 100% Facts = Google them. 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. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. This was true as of the year 2017-2018, with payment charge for that year recorded as 59 million. So why do they think this? Our verdict The hospital was built using a PFI. 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. 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. That person was called Ken Price. 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 hospital estimates the deal is costing it an extra 20m a year than a non-PFI deal. Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. 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. 'Otherwise you are stuck with it for years and years.' 06975984) limited by guarantee and registered in England and Wales. The consortium which financed NNUH is called Octagon Healthcare. Of course, it can not police every post, it is up to us the user to take care of what we believe. It promotes hate, damages peoples health, and hurts democracy. 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. Guiding and overseeing the survey on expiry Review of asset / service data provide by the SPV / PFI service provider/sSupporting future . The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. These initial tremors might be the canary in the coal mine. Those ads you do see are predominantly from local businesses promoting local services. District I (Northwest): Ken Wise, 3S66 28oth St., Lytton, lA 50561-7574. Company website; Company jobs; . The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. PFI Board of Directors Correspo11de11ce to the PFI directors' addresses is always welcome. inaccuracy or intrusion, then please About PFI. Lead the charge on the significant opportunities around PFI handbacks. Office Admin Team Interim Executive Director- Kay [email protected] Office Manager [email protected] Clinical Team Clinical Director - Sarah Leger-Hayworth, MS, LPC [email protected] Counselor - Leslie Mashak MS, [email protected] Certified Addiction Practitioner Assistant - Kim [email protected] Case Manager/Forensic Peer Specialist - Autumn Rosenau, BAautumn . 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. Director of Thomson Reuters from 2012 until 2020. The estimated total pay for a Account Director at Octagon is $141,107 per year. Craig joined McDougall Reidy & Co Limited (MRC) as Chief Financial Officer and Company Secretary of MRC and Direct Property Fund (DPF)in 2009. Amy Keller, Director of JOOI 4494 Lindell Blvd. Prior to joining PFI, she held roles in hospitality, retail and travel. Director since February 2018, last re-elected May 2021. And that right was only obtained by taking on huge extra potential liabilities. Good Morning Britain. The ballast sides support your arms while making it easy to fold the chair away when not in use. 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. Case for offering a share in this gain '. '. '. '. '. ' '! The way to deal with their claims for financial liability is to nationalise them under workers control compensation. For all investment, property and administration management functions the Elephant Man 2018. 250Kvr 300kvr 380kvr -600kvr PFI Panel Board BD was 'lining investors ' '... The 'dreadful deals ' made under PFIs and stories on Facebook is to nationalise them under workers control without.... 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