Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Inside, the first impression is that it is state of the art. 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. Guiding and overseeing the survey on expiry Review of asset / service data provide by the SPV / PFI service provider/sSupporting future . 1998: Labour government announces a new hospital for Norwich. Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of 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.'. Thanks to Bytemark for donating our web hosting. Proof-of-concept demonstrations, prototypes. Anthony is a professional director and consultant, consulting to both the private and public sector on a wide variety of property matters. 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). The hospital won the Building Better Healthcare Award[5] for Best Designed Hospital in September 2002. 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. However, it suggests that privately financed hospitals are potentially anticipating something else the expansion of private healthcare. Quote Tweet. 2000: The N&N becomes the first big hospital to be built in the NHS under the Private Finance Initiative (PFI). The hospital was built using a PFI. It is one of the largest hospitals in the United Kingdom in terms of in-patient capacity. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . (712) 4S8-2001. Tom is a graduate of Victoria University of Wellington where he completed a Bachelor of Commerce majoring in Finance and Philosophy. Picture: Archant, about how the deal to build the Norfolk and Norwich Hospital (NNUH) has financially crippled it. 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. The contract is due to run until 2037. This was true as of the year 2017-2018, with payment charge for that year recorded as 59 million. If you are dissatisfied with the response provided you can So why do they think this? [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. 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 ED probe into PFI's fund flow gathered momentum and culminated in the raids in Kerala after the investigation agency found out the role of Abdul Razaq Peediyakkal alias Abdul Razak B P, who. . The hospital says it is paying Octagon around 57m a year. In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. A system of environmental signage provides location-specific information for patients. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. Notice Details. Innisfree has made a fortune by investing in PFIs across the UK. The Government cites too the model of Alzira in Spain where a consortium of private companies not only financed and built facilities but also delivered health services. 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.. 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. Level 4, Hayman Kronfeld Building
HP10 9TY. All you have to do is review . It has even been described as owning outright three NHS hospitals. Press Association corrects error in reporting on research for prostate cancer test. If you wanted to keep it simple then the PFI debt would cover the entire NHS budget for over 2 years. Intriguingly, PFI hospitals have been designed with significant numbers of individual rooms as opposed to conventional wards. The contract is due to run until 2037. PFI-RP grants are up to $550,000 over 36 months. "[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. 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.. This is to boot the PFI robbers out of the NHS, along with the rest of the private sector. [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. The unacceptable face of capitalism. Craig is a graduate of Auckland University and is a Chartered Accountant, having trained as an auditor at PwC. 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. Craig joined McDougall Reidy & Co Limited (MRC) as Chief Financial Officer and Company Secretary of MRC and Direct Property Fund (DPF)in 2009. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. 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. Innisfree a fund management company in the City of London is amongst the biggest players in the PFI market. All directors are appointed by shareholders at PFI's annual meeting. That person was called Ken Price. Tom works with both the Finance and Property teams on a wide variety of analytical tasks. Bhd. Chair of our Compensation . 1158683) and a non-profit company (no. She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). 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 Thanks to Bytemark for donating our web hosting. This year. A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. 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. [2] The PFI costs take up around 10pc of its annual budget. Kieran joined the PFI team as the Lead Facilities Manager in 2022. For the purposes of that scheme, weve rated this claim as partly false 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. 3 It has found that government does . Email tom.bristow@archant.co.uk, This website and associated newspapers adhere to the Independent Press Standards Organisation's South London Healthcare Trust became the first NHS trust to go bust in the summer of 2012, having found itself on the hook for huge PFI costs. Sav joined the PFI team as Property Manager in early 2022. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. 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. 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. Craig was appointed Chief Financial Officer and Company Secretary of PFI in 2012, and when PFI merged with DPF in 2013, was appointedChief Financial Officer and Company Secretary of the merged entity. 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. 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 page was last edited on 9 February 2023, at 11:41. Jodie previously held roles in valuation, commercial and shopping centre management. contact IPSO here, 2001-2023. Constantin H. Beier . All 100%. Anthony's other directorships include Arvida Group Limited. May 8, 2020. 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. If you are dissatisfied with the response provided you can 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. 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.' Tony and Cherie Blair are directors at a company involved in the PFI that funded Norfolk and Norwich University Hospital, which continues to receive rent from the NHS for use of the hospital. This is clearly beneficial for patients and reduces the risk of transmission of infections. Prior to joining PFI, Nick spent four years at ASB Bank in various planning, forecasting and analysis roles. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. 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 !. This material is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of . Prior to joining, Ewan spent 13 years working in various roles in property, asset and fund management in the United Kingdom, the last nine in Edinburgh where he worked managing and acquiring a diverse range of property for a large property trust. It can be hard to do that when we love to read and believe things which confirm our prejudices. Rodrigo holds a property degree from Lincoln University and has over 12 years of experience, with the last five years specialising in the management of syndicated properties across New Zealand. Yet even in the throes of this PFI and outsourcing crisis, public-private Partnerships (PPP) are far from dead and buried. And he urged the hospital to request money back from Octagon. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. because Tony and Cherie Blair are not directors of Octagon Healthcare. 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. SPIN is a good thing, she does not say from government, just mixed messaging. 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. 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. 'Otherwise you are stuck with it for years and years.' Under the PFI, a private sector consortium builds and maintains the building and then leases it back to the public sector. Start your Independent Premium subscription today. Whether it's Blair . 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. Total Quantity or Scope. [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. 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. The N&N, which is in financial special measures, estimates it is paying Octagon 57m this year. This is not some exceptional example of the unacceptable face of capitalism. 'The refinancing will release significant resources for the NHS in central Norfolk,' said a press release from the N&N at the time. Prior to joining PFI, she held previous roles in customer service and reception. Registered in England & Wales | 01676637 |. There are fewer junior doctor offices and overnight rooms. The Norfolk and Norwich University Hospital. However, we observed that some improvements were needed". 'This is what it was all about at the beginning,' he said. Nirali has completed a Bachelor of Commerce and Property conjoint degree from the University of Auckland and is a Chartered Accountant. Its chief executive, Alan Birch, has previousy defended PFIs. Do Rishi Sunaks claims about hospital discharge funding stack up? . Focused on multidisciplinary, multi-organizational teams. 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. 1158683) and a non-profit company (no. Maybe the press and reporters should start taking more responsibility for the mess ffs. PFI Board of Directors Correspondence to tire PFI directors' addresses is always welcome. 1. She has previously held roles in the property industry. It is paying millions annually to the Octagon company and is in hock to it for the next 39 years. (712) 466-2473. The other biggest shareholder, 3i, invests in infrastructure projects across the world. Do you have a story for the investigation unit? Pamela works closely with the Property team and other members of the Finance team of PFI. The News Line is our daily paper. 06975984) limited by guarantee and registered in England and Wales. She is a graduate of the University of Waikato where she completed her Bachelor of Management Studies with Honours. The proposed variation to the PFI contract . The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. 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 !!! 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. Those ads you do see are predominantly from local businesses promoting local services. Leo Benjamin, 17636 Birch Ave., Whiting, lA Sl063. 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. But at the current rate of payment it would take more than 60 years to clear the debt. 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. And why are they asking about it now? ALDWYCH CONSULTING LTD. BN25, ENG. 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. 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) 292-7035 For questions, please refer to the cognizant PFI Program Directors listed above. Sure enough, there is some evidence of the tide turning. Amy Keller, Director of JOOI 4494 Lindell Blvd. 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. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. A report to the N&N's board warns it may struggle to find savings. As a subscriber, you are shown 80% less display advertising when reading our articles. [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. PFI is the voice of US pet food and treat makers and reports that its . Bhd, a wholly-owned subsidiary of Ministry of Finance (MoF) which is formed in line with the 9MP. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. Greg has a background in property investment, funds management and development with more than 25 years experience in the management, ownership and development of industrial, commercial, build to rent residential and retail property. 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. Workers Revolutionary Party. in the PFI second . There are many precedents for renationalising privatised services when it is in the public interest. She is also a Chartered Accountant (South Africa). Michael has held a variety of roles within the property industry and is also a member of the Auckland Aces Cricket team. Browse and apply for the Consulting jobs at Arcadis Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. All directors are appointed by shareholders at PFIs annual meeting. 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. 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. Angela recently joined PFIs Board in February 2023. 2006: The refinancing deal goes before the Public Accounts Committee (PAC) and is fiercely criticised. Privacy, terms and conditions. Poonam Muttreja. And it now looks like they might be brought in to administer the last rites. 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. (712) 466-2473. Screens provide live information about how many cases are being handled and the current status of the A&E department. It promotes hate, damages peoples health, and hurts democracy. Posted: January 11, 2023. 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. She has been acting as the CVM's director since Steven M. Solomon's retirement in December 2022. The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! Golf Clients . The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting Guiding and overseeing the 'survey on expiry' I looked further to find the person who originally posted this false information. 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. Same goals than PFI-TT. It hopes to pay Octagon off by 2037 the earliest opportunity it has to end the contract. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. The key individuals have extensive experience in the . It looms over the ruins of the crumbling Victorian hospital made famous in David Lynchs film The Elephant Man. Company website; Company jobs; . We have also tried to contact Octagon's director. 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. Full Fact fights for good, reliable information in the media, online, and in politics. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. Jodie is responsible for the asset management of a portfolio of PFI's properties. 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. , Buckinghamshire work fact checking potentially false pictures, videos and stories on Facebook original build costs of.... 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