For the purposes of that scheme, weve rated this claim as partly false The PFI costs take up around 10pc of its annual budget. Good Morning Britain. As a result, only specific contractors are allowed to change or fix certain equipment or fittings, such as a plug socket or a light bulb. It only got a small amount of traction. https://infogr.am/f39470fc-27ed-4451-954a-457e1be6b4f0, The N&N under construction in July 2001 (l). Revealed: How shareholders of PFI firm are making millions from cash-strapped Norfolk and Norwich University Hospital Health By Tom Bristow The N&N under construction in July 2001 (l). Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. 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. Pamela joined PFI as Finance Manager in 2020. 1. Salaries posted anonymously by Octagon employees. The estimated additional pay is $34,101 per year. Dr Julia Patterson, a spokeswoman for EveryDoctor, which campaigns to improve doctors' working conditions, said the trust's message meant "optimal care is unavailable now for some NHS patients [because] 'the least unsafe option' is the best we can offer. 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 . Semperian Executive Emma Lancaster Managing Director of Assurance Services Becky Brunt Managing Director of Business Support Alan Birch Chief Executive Officer Andrew Rhodes Deputy Chief Executive Jonathan Simpson Chief Finance Officer Gary Brown Chief Operating Officer Richard Little Chief Investment Officer Colin Anderson Group Counsel The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Pembinaan PFI Sdn. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. All 100% Facts = Google them. 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. The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. Company website; Company jobs; . It can be hard to do that when we love to read and believe things which confirm our prejudices. (Paragraph 2.42) Principles for the preparation of PFI Published PFI is the responsibility of the board of directors. The NHS is on its knees. 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. 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. When hospitals are so full that there are no intensive care beds, no hospital beds at all, and essential operations are being cancelled because there's simply no one to do the surgery, then every option carries undue risk".[23]. Simon was appointed as Chief Executive Officer of PFI in January 2019. Of course, it can not police every post, it is up to us the user to take care of what we believe. Norfolk and Norwich University Hospitals NHS Foundation Trust Arthur South Day Procedure Unit entrance das Americas, 3.434 - Gr. 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 !. My comment telling them theyve got it wrong, will be lost amid the 500 comments and anyway it is too late. 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. The hospital was built using a PFI. 'Why doesn't the government stand up and say, 'we are not going to pay'? Before joining PFI, she worked with the MacArthur Foundation as Country Director where she was responsible for the Foundation's grants in India. Level 4, Hayman Kronfeld Building Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. If you have a complaint about the editorial content which relates to inaccuracy or intrusion, then please 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. [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. 'The more patients we treat, the higher the PFI usage fee, on the basis that the services are used more intensively and the buildings require greater maintenance,' a spokesperson for the hospital explained. The 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. 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. [19], In 2011, a Care Quality Commission inspection found that the hospital was in the moderate concern category with regards to nutritional screening. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. About PFI. It is a socialist paper and gives particular coverage to Trades Union and International news. However this plays out, it looks like the stage is set for the final act of the PFI story. [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. Yet even in the throes of this PFI and outsourcing crisis, public-private Partnerships (PPP) are far from dead and buried. 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 contact the editor here. 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. Ethical Sales and Marketing 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. Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. Copyright 2010-2023 Full Fact. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. Data returned from the Piano 'meterActive/meterExpired' callback event. 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. Gen provides day-to-day administration and general support for the wider office. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. Vercity also employs talented senior finance experts, comprising finance directors, operations managers, management accountants and financial controllers. Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. Privacy, terms and conditions. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. All this has thrown up searching questions, not least around staff redundancies and pensions, bailouts, inflated dividends and executive remuneration. At the end of the contract, ownership of the hospital will pass to the NHS. District 1 (Northwest): Ken Wise, 3566 280th St., Lytton, lA 50561-7574. [21], In March 2014 the N&N, Norfolk's biggest hospital, marked two years of being MRSA free. (712) 466-2473. One man even threatened to kill the Blairs because of this untrue post. 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 Trust is taking a range of measures to deal with this hugely challenging deficit; careful cost control, service redesign, and reducing an overall pay bill that accounts for 60 per cent of our budget. Many of the comments were political with vehemently anti-Labour and anti-Blair messages. A Gannett Company. A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. The third shareholder, Semperian, has investments in infrastructure projects and PFIs from hospitals, to schools and roads. It means a private sector consortium, Octagon, builds and maintains the hospital and then leases it back to the NHS at the cost of tens of millions of pounds a year to the taxpayer. A system of environmental signage provides location-specific information for patients. Thanks to Bytemark for donating our web hosting. Do you have a story for the investigation unit? Directors should identify why the Innisfree has made a fortune by investing in PFIs across the UK. Please click on the names below to learn more about the PFI team. Posted: January 11, 2023. 'The whole PFI programme was massively ill-judged,' he said. She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). The hospital estimates the deal is costing it an extra 20m a year than a non-PFI deal. Photo: Parliament TV. because Tony and Cherie Blair are not directors of Octagon Healthcare. Kam works closely with the rest of the PFI finance and property teams, with a particular focus on the accounting for PFI's tenants and properties. 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. These have seen rates of return, double, treble and even quadruple. 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. . As a subscriber, you are shown 80% less display advertising when reading our articles. HP10 9TY. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. 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. 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. Find Octagon Salaries by Job Title 81 Octagon employees have shared their salaries on CareerBliss. Listed on 2023-02-23. The ballast sides support your arms while making it easy to fold the chair away when not in use. Angela recently joined PFIs Board in February 2023. 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. Total Quantity or Scope. We urge you to accept the moral case for offering a share in this gain'.'. Maybe the press and reporters should start taking more responsibility for the mess ffs. Registered in England & Wales | 01676637 |. Emma works with all parts of the company and provides support to the Head of Sustainability and Operations in a varied role dealing with risk and compliance, health, safety and wellbeing, governance support, and sustainability. HP10 9TY. Proof-of-concept demonstrations, prototypes. Requires an industry partner. Rodrigo joined PFI as Asset Manager in 2020 and was promoted to Asset and Development Manager is 2022. Guess who two of the Company Directors are = Tony and Cherie Blair ! As a subscriber, you are shown 80% less display advertising when reading our articles. 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. Be seen as the team's 'go to' subject matter expert in relation to PFI. 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 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. The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting. Indeed, the National Audit Office has recommended that the Government should have the power to cancel contracts which are not providing value for money. Nirali joined PFI as Assistant Accountant in 2016. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. As one comes out of Whitechapel Tube station, the new Royal London hospital certainly looks impressive. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. 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. I looked further to find the person who originally posted this false information. Weightmans LLP > The Legal 500 Rankings Dispute resolution > Professional discipline Tier 1 Further to its June 2022 merger with RadcliffesLeBrasseur LLP, Weightmans LLP's large 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.. 508/Bl. The hospital won the Building Better Healthcare Award[5] for Best Designed Hospital in September 2002. The university hospital replaced the former, Norfolk and Norwich Hospital, which was founded in 1771, and the West Norwich Hospital. 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. Workers Revolutionary Party. The chief executive of Healthwatch Norfolk, Alex Stewart, said: 'If the money could be put back into services, people would potentially be seen far more quickly.'. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. Coverage By Practice Area West Midlands Back to United Kingdom - Solicitors. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. It hopes to pay Octagon off by 2037 the earliest opportunity it has to end the contract. [4] The Norfolk and Norwich University Hospitals NHS Foundation Trust pays the private PFI Octagon consortium in the region of 41 million a year. 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 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. If you have a complaint about the editorial content which relates to The earliest post I could find was from May 4 at 6pm from someone called Bob Hunt who mainly posts about Brexit and Muslims on his page. Corporate and commercial: Birmingham 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. 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. 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'. Director, PFI and PVC (since 2023) Trustee, PDSRA and PETF (since 2023) . In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. 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. Notice Details. PFIs are complex, financial instruments and the answers to how they might be brought to heel or cancelled need to be carefully thought out. 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. Picture: Archant, about how the deal to build the Norfolk and Norwich Hospital (NNUH) has financially crippled it. 'This is what it was all about at the beginning,' he said. 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. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. Jodie joined PFI as Property Manager in 2012and was promoted to Asset Manager in 2020. The N&N is about 3pc of its portfolio. It cannot get out of the deal until 2037 at the earliest. Nirali is currently on maternity leave until September 2023. She is also a Chartered Accountant (South Africa). 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