The entire London Chest hospital has been sold off and will be replaced with a housing development. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. Ambulances were forced to queue outside the building while non-urgent patients were discharged to free up beds and a major incident emergency plan implemented. Jon Wiegand Head-Power, UK Global Broking Center. The estimated base pay is $107,006 per year. If you are dissatisfied with the response provided you can For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. Similar schemes across London and the country have been plagued with controversy. [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. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. 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. If we're gonna do that though, there's a risk of . Starting salary from 53,353 per annum, dependant on skills and experience, with an annual Posted 7 days ago Director of Estates and Facilities Royal Cornwall Hospitals NHS Trust 3.6 Truro Permanent She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). Its restructuring entailed redundancies for hundreds of staff and down-banding of others. (712) 458-2001. The N&N, which is in financial special measures, estimates it is paying Octagon 57m this year. Please click on the names below to learn more about the PFI team. 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. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. @GMB. The text on the post reads: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998. 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. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. It has even been described as owning outright three NHS hospitals. Do you have a story for the investigation unit? 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. . The trust has announced they it may have to lose 450 jobs this year. Nirali joined PFI as Assistant Accountant in 2016. PFI is the voice of US pet food and treat makers and reports that its . 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. Pamela has completed a Bachelor of Commerce degree from the University of Auckland and is a Chartered Accountant. 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. The hospital opened in 2001 under a deal called a Private Finance Initiative (PFI). Of course, PFI was not always a toxic brand. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. 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. Guess who two of the Company Directors are = Tony and Cherie Blair ! 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. 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. Furthermore, the catch-all of commercial confidentiality has erected a firewall. There must be a new leadership to carry this struggle forward. Salaries posted anonymously by Octagon employees. In October 2018, government announced it would no longer use PFI. [4] The Norfolk and Norwich University Hospitals NHS Foundation Trust pays the private PFI Octagon consortium in the region of 41 million a year. Ewan is responsible for leading the team that manages PFI's property portfolio. 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. Picture: Archant (Image: Archant 2018). 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. Photo: PA Wire. Previously, Angela held a number of senior positions over a 10-year period with Foodstuffs Auckland and Foodstuffs North Island, most recently being General Manager Property Development for Foodstuffs North Island. It means Octagon's turnover is increasing every year. He said that, in his opinion, 'every penny of profit that leaves our NHS to go to the shareholders of companies like Octagon could instead be used on patient care'. Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. 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. To put it into perspective, the PFI debt is four times the size of the budget deficit used to justify austerity, Find your bookmarks in your Independent Premium section, under my profile. 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. [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. Focused on multidisciplinary, multi-organizational teams. The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. The N&N is about 3pc of its portfolio. 'Why doesn't the government stand up and say, 'we are not going to pay'? These initial tremors might be the canary in the coal mine. The hospital is currently in the worst financial state in its history. The hospital trust can terminate the PFI deal with Octagon in either 2037, 2042 or 2052. (712) 466-2473. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. 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. 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. Office Admin Team Interim Executive Director- Kay Guiredirector.pfi@vcn.com Office Manager manager.pfi@vcn.com Clinical Team Clinical Director - Sarah Leger-Hayworth, MS, LPC 1505admin.pfi@vcn.com Counselor - Leslie Mashak MS, LPCleslie.pfi@vcn.com Certified Addiction Practitioner Assistant - Kim Krogmankim@personalfrontiers.org Case Manager/Forensic Peer Specialist - Autumn Rosenau, BAautumn . Poonam Muttreja. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. No wonder! 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 Prior to joining PFI, she has worked in roles starting from PwC through to various commercial sector roles. 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. 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. A cornerstone of the cultural scene in Ames since 1966, the Octagon serves more than 30,000 people each year through art classes and outreach, rotating exhibits, a retail gallery shop, and the annual Octagon . North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. There have been 47 refinancings of hospital, school and other PFI projects up to the end of the last financial year. We have also tried to contact Octagon's director. 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 !. These have seen rates of return, double, treble and even quadruple. [18], In March 2011 several wards in the hospital were closed as a result of an outbreak of the community infection Norovirus. The consortium which financed NNUH is called Octagon Healthcare. But why does it then wrongly name the Blairs as company directors? Full Fact fights for good, reliable information in the media, online, and in politics. The hospital was built using a PFI. Providing technical leadership to grow the teams capability. Innisfree paid 5.8m to its eight directors in 2015, including 3.2m to one unnamed director, according to its financial report. 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. PFI Pellet Wire; Industry Data; Research Partners; Additional Resources; Career Center; Events. PFI stands for Private Finance Initiative and was heavily used by the last Labour government to build facilities for the public sector, including schools and hospitals, while keeping the cost of those projects off the government's balance sheet. Registered in England & Wales | 01676637 |. The process is simple and we do most of the work. That 20m would pay the wages of 800 nurses, or 200 GPs. Good Morning Britain. 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 N&N owes Octagon just under 200m which it is currently paying off at a rate of around 3m a year. Registered in England & Wales | 01676637 |. Guess who two of the Company Directors are = Tony and Cherie Blair ! From 1999 through to 2017, Dean was Managing Director of Freightways Limited (Freightways). Madeline Serpico US Chief Executive Officer-Multinational Clients. . The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. This site is part of Newsquest's audited local newspaper network. Norwich South MP Clive Lewis. 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. This website and associated newspapers adhere to the Independent Press Standards Organisation's Ewan joined PFI as Asset/Development Manager in 2015and was promoted to Portfolio Manager in 2020. [1] She has more than 35 years of experience in the socio-development sector. Quote Tweet. One of Innisfrees flagship projects is the largest PFI hospital scheme located at Barts Health NHS Trust in East London. The original cost of the project was 1.1bn. The London Underground public-private partnership saw the bankruptcy of private company Metronet, with the Government forced to step in and bring the upgrade back into public hands. Innisfree a fund management company in the City of London is amongst the biggest players in the PFI market. Press Association corrects error in reporting on research for prostate cancer test. PFI companies are already arming themselves for the prospect of a Corbyn government, as has been recently reported. 06975984) limited by guarantee and registered in England and Wales. The News Line is our daily paper. Director since 2012, last re-elected May 2021. Chair of our Compensation . 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. This year. Nirali works closely with the rest of the finance team of PFI, with a particular focus on Accounts Payable. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. Editors' Code of Practice. Guiding and overseeing the survey on expiry Review of asset / service data provide by the SPV / PFI service provider/sSupporting future . Whether it's Blair . 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 !!! The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. Listed on 2023-02-23. 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. Listing for: ALDWYCH CONSULTING LTD. Full Time position. Those ads you do see are predominantly from local businesses promoting local services. A Gannett Company. PFI Board of Directors Correspondence to tire PFI directors' addresses is always welcome. Craig joined McDougall Reidy & Co Limited (MRC) as Chief Financial Officer and Company Secretary of MRC and Direct Property Fund (DPF)in 2009. contact IPSO here, 2001-2023. Job in Hove - England - UK , BN3. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. The unacceptable face of capitalism. 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. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. To put it into perspective, the PFI debt is four times the size of the budget deficit used to justify austerity. [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. All directors are appointed by shareholders at PFI's annual meeting. 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. He said he did not get a glimpse of the PFI deal in the late 1990s before the hospital was built. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. Anthony's other directorships include Arvida Group Limited. THE Octagon private sector consortium has been branded the unacceptable face of capitalism by a House of Commons committee. Managing Director, Octagon Financial Services Talent + Properties Simone Errey Managing Director Marketing Australia James Logan Head of Client Services Marketing UK Marianne Rotole Executive Vice President, Client Services Marketing North America Ross Chouler Head of U.S. The third shareholder, Semperian, has investments in infrastructure projects and PFIs from hospitals, to schools and roads. 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. The Norfolk and Norwich University Hospital has been visited by a number of notable people in public life; On this Wikipedia the language links are at the top of the page across from the article title. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. Posted: January 11, 2023. Copyright 2010-2023 Full Fact. Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. Craig is a graduate of Auckland University and is a Chartered Accountant, having trained as an auditor at PwC. At the end of the contract, ownership of the hospital will pass to the NHS. As a subscriber, you are shown 80% less display advertising when reading our articles. Director of Thomson Reuters from 2012 until 2020. Associate Director of Estates new Lewisham and Greenwich NHS Trust 3.7 London SE13 Rodrigo joined PFI as Asset Manager in 2020 and was promoted to Asset and Development Manager is 2022. It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. False information has been spread by thousands of people on Facebook, wrongly linking the Blairs to the company behind the PFI contract at the NNUH. So, we have to do that. has the same accountability of Pembinaan BLT Sdn. Inevitably, this raises pressing questions as to what kind of resolution might emerge when there are so many entangled vested interests. You can read more about thisand find out how to report Facebook contenthere. Then at 8pm someone copied and posted the same false information which Mr Hunt had written and it rapidly spread. [14] The Consortium lengthened the NHS's repayment term from 34 to 39 years, but raising their own rate of return from 16 to 60 per cent. [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. Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. Anthony is a professional director and consultant, consulting to both the private and public sector on a wide variety of property matters. 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. Naturally, there are very serious concerns about jobs. 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. PFI, it could be said, underlines that austerity is a political choice rather than a necessity. The new Neom city in Saudi Arabia has announced a floating industrial district that will house a hyperscale data center. The Norfolk and Norwich University Hospital was built under the Private Finance Initiative (PFI), and opened in late 2001: it has 1237 acute beds and offers a wide range of NHS acute health services plus private patient facilities. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. There are fewer junior doctor offices and overnight rooms. Sav joined the PFI team as Property Manager in early 2022. Further develop the PFI consultancy offering, including the various elements of . "[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. 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. This is not some exceptional example of the unacceptable face of capitalism. Profit warnings have been issued for other government contractors, such as Interserve. Jeremy Corbyn hailed the potential halt of the Lendlease scheme as a victory for municipal socialism, with top-down progressive leadership combining with bottom-up local campaigning to deliver a rare victory for citizens over what are often deemed to be unaccountable corporate interests. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. 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. If you have a complaint about the editorial content which relates to Tom is a graduate of Victoria University of Wellington where he completed a Bachelor of Commerce majoring in Finance and Philosophy. 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. 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 consortium which financed NNUH is called 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. Simon was appointed as Chief Executive Officer of PFI in January 2019. 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. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. About PFI. Carolyn recently joined PFIs Board in August 2022. inaccuracy or intrusion, then please All accounts receivable matters are being handled by Timothy Low in her absence. 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. A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. Gen provides day-to-day administration and general support for the wider office. Constantin H. Beier . Octagon Brazil. The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. 'When it was first proposed, Frank Dobson (the then health secretary) told us it was signed, sealed, delivered. Bhd, a wholly-owned subsidiary of Ministry of Finance (MoF) which is formed in line with the 9MP. 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). 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. 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. 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. There are currently over 700 PFI contracts and the bulk will start to expire from 2025. 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. Those ads you do see are predominantly from local businesses promoting local services. For the purposes of that scheme, weve rated this claim as partly false 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. Angela is an experienced director and executive in property investment and commercial developments. 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. 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. inaccuracy or intrusion, then please She previously held a variety of roles across property finance, risk, compliance and governance in the banking sector. There is little mention of the N&N or Octagon in its annual reprt. David was raised in Christchurch, where he completed commerce and law degrees at the University of Canterbury. Email tom.bristow@archant.co.uk, This website and associated newspapers adhere to the Independent Press Standards Organisation's The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! Nirali is currently on maternity leave until September 2023. And it now looks like they might be brought in to administer the last rites. It was a persuasive argument which seduced many. Guess who two of the Company Directors are = Tony and Cherie Blair ! The Norfolk and Norwich University Hospital. It hopes to pay Octagon off by 2037 the earliest opportunity it has to end the contract. About Octagon. 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. 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. contact the editor here. Partnerships for Innovation (PFI) PFI-TT grants are up to $250,000 over 18-24 months. because Tony and Cherie Blair are not directors of Octagon Healthcare. He is a graduate of Canterbury University where he completed his Bachelor of Commerce majoring in Accounting and Marketing. Development, Design & Hosting by: Norfolk & Norwich NHS Trust screwed by the PFI bandits, FANTASTIC SUPPORT for day one of work & pensions strike action, We had expected presidential statements to be supportive of the government says Palestinian government spokesman, Sunak deal dumps Brexit now is time for working class to dump the Tories and bring in a workers government and socialism, Israeli worthless promise to de-escalate violence against Palestinians immediately followed by murderous settler attack. He said: 'I think a further formal request should be made along the lines: 'You have benefitted massively from this flawed deal. All 100% Facts = Google them.. Data returned from the Piano 'meterActive/meterExpired' callback event. This reduces the scope of savings initiatives,' it said. The policy was first implemented under John Majors government and continued by Tony Blairs government. It received 3m from Octagon last year. Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. Director - PFI Advisory. 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. Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. Told us it was later privatised with the rest of the hospital built! For Innovation ( PFI ) PFI-TT grants are up to $ 250,000 over 18-24 months Review and interpretation PFI... The socio-development sector he completed his Bachelor of Commerce degree from the Piano 'meterActive/meterExpired ' callback.. Late 1990s before the hospital Trust can terminate the PFI team as Manager! 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