because Tony and Cherie Blair are not directors of Octagon Healthcare. Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. Associate Director of Estates new Lewisham and Greenwich NHS Trust 3.7 London SE13 Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. I was against it in principle,' he said. He was until recently a member of Buddle Findlay's board for seven years. "[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. There is little mention of the N&N or Octagon in its annual reprt. All directors are appointed by shareholders at PFI's annual meeting. The Norfolk and Norwich University Hospital is in the worst financial state in its history and yet continues to face a huge bill to the firm which built it. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. The report noted that the consortium was receiving an over 80 million pound windfall from the deal, and the National Audit Office said that the windfall was the third it had uncovered after complaints from MPs and the public. The hospital opened in 2001 under a deal called a Private Finance Initiative (PFI). [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. You deserve better. The initial cost of 229m is paid for through Octagon. It is paying millions annually to the Octagon company and is in hock to it for the next 39 years. '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. 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. Director - PFI Advisory Aldwych Consulting Ltd London, England,. 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 contract is due to run until 2037. Gen provides day-to-day administration and general support for the wider office. 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. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. Full-Time. Nirali is currently on maternity leave until September 2023. 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. Prior to joining PFI, Tom spent time working in various Analyst roles at Turners Group and Heartland Bank; most recently coming from a gap year working in Japan. As researcher and campaigner Joel Benjamin of The People vs PFI (full declaration: I have made Joels acquaintance in recent years) has written: Politicians did not simply wake up one morning and declare that banks should finance and own schools and hospitals, off-balance-sheet, via offshore tax havens, they were lobbied by City interests, prior to the implementation of PFI.. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. 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.'. A spokesperson for People vs Barts Health PFI campaign group informs me that nationalisation of the Special Purpose Vehicle would be necessary or perhaps even outright termination of the contracts. [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 proposed variation to the PFI contract is to . [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. Yet there is also an aesthetic and functional brutalism with labyrinthine corridors and sunless, windowless rooms. Our verdict The hospital was built using a PFI. 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. Of course, it can not police every post, it is up to us the user to take care of what we believe. Our verdict The hospital was built using a PFI. Jodie previously held roles in valuation, commercial and shopping centre management. 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. Up and down the country, this is the slick, corporate sheen of PFI hospitals. One man even threatened to kill the Blairs because of this untrue post. The domino effect has shades of the 2007-08 financial crisis even though it is clearly not of the same magnitude. Pembinaan PFI Sdn. Angela is also a qualified lawyer with significant expertise in environment and property law. Mr Lamb called on the government to look at buying its way out of the 'dreadful deals' made under PFIs. Director, PFI and PVC (since 2023) Trustee, PDSRA and PETF (since 2023) . That person was called Ken Price. 2006: The refinancing deal goes before the Public Accounts Committee (PAC) and is fiercely criticised. 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. The hospital was built using a PFI. 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. 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. HP10 9TY. Want to bookmark your favourite articles and stories to read or reference later? [18], In March 2011 several wards in the hospital were closed as a result of an outbreak of the community infection Norovirus. There have been 47 refinancings of hospital, school and other PFI projects up to the end of the last financial year. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. It hosts the Norwich GP speciality training scheme. Registered in England & Wales | 01676637 |. 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. Innisfree has made a fortune by investing in PFIs across the UK. Thanks to Bytemark for donating our web hosting. 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. 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. 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. 06975984) limited by guarantee and registered in England and Wales. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. All this has thrown up searching questions, not least around staff redundancies and pensions, bailouts, inflated dividends and executive remuneration. Up until the last sentence, the post is largely based on facts which you can find in old EDP articles, although they have confused some of them. Octagon Board of Directors. About PFI. 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. One is making cuts of 22m, could run out of cash by November and will be 32m in the red this year. Editors' Code of Practice. 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. The N&N, which is in financial special measures, estimates it is paying Octagon 57m this year. The consortium which financed NNUH is called Octagon Healthcare. . 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. For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. Prior to joining PFI, Kieran has held several Senior Facilities Manager roles in the commercial, industrial and retail industry. 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. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. Poonam Muttreja. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of PFI. (712) 466-2473. 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. But at the current rate of payment it would take more than 60 years to clear the debt. PFI-RP grants are up to $550,000 over 36 months. But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. PFI Panel board bd Power Factor Improvement Panel Board bd . Corporate and commercial: Birmingham All 100% Facts = Google them. [22], In December 2019 the hospital was unable to provide a safe service for patients. Sure enough, there is some evidence of the tide turning. (712) 458-2001. [21], In March 2014 the N&N, Norfolk's biggest hospital, marked two years of being MRSA free. 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. 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. 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. This is not some exceptional example of the unacceptable face of capitalism. To save the NHS we must go forward to a workers government. 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. contact the editor here. because Tony and Cherie Blair are not directors of Octagon Healthcare. 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 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. 'When it was first proposed, Frank Dobson (the then health secretary) told us it was signed, sealed, delivered. 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. das Americas, 3.434 - Gr. Whether it's Blair . A report to the N&N's board warns it may struggle to find savings. The original cost of the project was 1.1bn. (712) 4S8-2001. 'Why doesn't the government stand up and say, 'we are not going to pay'? If you wanted to keep it simple then the PFI debt would cover the entire NHS budget for over 2 years. These have seen rates of return, double, treble and even quadruple. Another 7.2m, does not appear in the trust's accounts but the hospital said it is paid as an addition to the 'life cycle maintenance' of the PFI. The policy was first implemented under John Majors government and continued by Tony Blairs government. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. The estimated base pay is $107,006 per year. SPIN is a good thing, she does not say from government, just mixed messaging. No wonder! 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. 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. Photo: Stefan Rousseau/PA Wire (Image: The Press Association). 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. Its restructuring entailed redundancies for hundreds of staff and down-banding of others. That 20m would pay the wages of 800 nurses, or 200 GPs. The hospital won the Building Better Healthcare Award[5] for Best Designed Hospital in September 2002. Profit warnings have been issued for other government contractors, such as Interserve. Genevieve (Gen) joined PFI as Office Administrator in 2022. A system of environmental signage provides location-specific information for patients. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. The hospital says it is paying Octagon around 57m a year. 218 Fax: (314) 735-4118 E-mail: youthclubs@optimist.org or amy.keller@optimist.org This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. Those ads you do see are predominantly from local businesses promoting local services. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. It was paid 42.5m last year by the N&N up from 29m in 2010. Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. Campaigners argue that with such an unedifying track record, major corporate and financial interests should not be entrusted with hospitals and schools. 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. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . Powerlinebd.com 01760002011 Power Line. [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. Dyer currently serves as a director of Liquidity Services and the Grameen Foundation. A Daily Telegraph investigation flagged up several egregious examples but this one really stood out: one hospital was charged 52,000 for a job which should have cost 750. contact the editor here. contact IPSO here, 2001-2023. The Pet Food Institute (PFI) has selected Dana Brooks as the organization's new president and chief executive office. ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. My comment telling them theyve got it wrong, will be lost amid the 500 comments and anyway it is too late. 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. If you are dissatisfied with the response provided you can 2023 PFI Annual Conference; 2022 PFI Annual Conference; 2021 PFI Annual Conference; 2020 VirtuallyPFI Online Conference; 2019 PFI Annual Conference Photos . These adverts enable local businesses to get in front of their target audience the local community. This leadership is the WRP. Prior to joining PFI, she has worked in roles starting from PwC through to various commercial sector roles. "[10], The hospital neighbours the constituency of South Norfolk MP Richard Bacon, also a member of the Public Accounts Committee. Company website; Company jobs; . Carolyn recently joined PFIs Board in August 2022. 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. [6], It is one of a small number of Accident and Emergency departments to benefit from Pearson Lloyd's redesign - 'A Better A&E' - which reduced aggression against hospital staff by 50 per cent. Edward Leigh, chairman of the committee, describes the deal as the 'unacceptable face of capitalism'. I wanted to ignore them, dismiss them as conspiracy theorists, but surely the renewed interest in an old article and these emails were linked? Email tom.bristow@archant.co.uk, This website and associated newspapers adhere to the Independent Press Standards Organisation's Tony Blair and Gordon Brown saw Private Finance Initiatives as a way to deliver infrastructure projects without huge capital expenditure, The British construction and outsourcing firm announced its immediate liquidation on 15 January, HSBC was among those banks instrumental in what the RBS chairman has effectively labelled a great heist, Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, This is what Private Finance Initiatives are and how they work, The great PFI heist: How big banks took over UK plc, How to Dismantle the NHS in 10 Easy Steps, Extra 20% off selected fashion and sportswear at Very, Up to 20% off and extra perks with Booking.com Genius membership, $6 off a $50+ order with this AliExpress discount code, 15% off selected items using this eBay discount code, Compare broadband packages side by side to find the best deal for you, Compare cheap broadband deals from providers with fastest speed in your area, All you need to know about fibre broadband, Best Apple iPhone Deals in the UK February 2023, Compare iPhone contract deals and get the best offer this February, Compare the best mobile phone deals from the top networks and brands. 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