But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. Octagon sub-contracts those day-to-day services to Serco. 15 Galway Street Listing for: ALDWYCH CONSULTING LTD. Full Time position. We have also tried to contact Octagon's director. [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. A Gannett Company. All 100%. Ethical Sales and Marketing Then at 8pm someone copied and posted the same false information which Mr Hunt had written and it rapidly spread. That person was called Ken Price. Same goals than PFI-TT. 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. '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. Board of Directors; Open Architecture; Collective Intelligence; Corporate Governance; Supplier Management; Menu Search. (712) 4S8-2001. has the same accountability of Pembinaan BLT Sdn. Yet there is also an aesthetic and functional brutalism with labyrinthine corridors and sunless, windowless rooms. Do you have a story for the investigation unit? Prior to joining PFI, she held previous roles in customer service and reception. RBS was the biggest bank in the world by assets when it failed in 2008. Full Fact is a registered charity (no. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. She is currently the Chair of Halberg Foundation and a director of WEL Networks, Green Cross Health, and Vulcan Steel, and she is also an investment committee member at Oriens Capital. For the purposes of that scheme, weve rated this claim as partly false Photo: Stefan Rousseau/PA Wire, Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. Powerlinebd.com 01760002011 Power Line. Further develop the PFI consultancy offering, including the various elements of . The Trust told senior doctors, "We would like you to know that the trust will support you in making difficult decisions that may be the least unsafe decision, and we would appreciate your cooperation over the coming days with this". Photo: Parliament TV (Image: Archant). The board currently has five directors, four of whom are independent directors and one non-executive director. Poonam Muttreja. All this has thrown up searching questions, not least around staff redundancies and pensions, bailouts, inflated dividends and executive remuneration. 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 subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. Angela recently joined PFIs Board in February 2023. Level 4, Hayman Kronfeld Building Octagon Board of Directors. Now the unheeded prophecies of the Cassandras have come true. . Pamela works closely with the Property team and other members of the Finance team of PFI. 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. Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. (712) 458-2001. Director since 2001, last re-elected June 2020. Kieran joined the PFI team as the Lead Facilities Manager in 2022. 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. 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. This is not some exceptional example of the unacceptable face of capitalism. It means Octagon's turnover is increasing every year. All 100% Facts = Google them. In January 2019, Craig was appointed asChief Finance and Operating Officer. It can be hard to do that when we love to read and believe things which confirm our prejudices. To save the NHS we must go forward to a workers government. 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. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. Furthermore, the Government is pushing through Accountable Care Organisations (ACO), a form of PPP based on an American model of healthcare. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. You can read more about thisand find out how to report Facebook contenthere. After all, while there have been exceptional cases in which hospitals have bought out PFI contracts this is not feasible for larger PFI deals, such as that involving Barts Health, without the backing of government. Jodie is responsible for the asset management of a portfolio of PFI's properties. Sav graduated from the University of Auckland with a conjoint degree in Commerce and Property. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. It promotes hate, damages peoples health, and hurts democracy. 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. The hospital's hands are closely bound when it comes to making 22m of cuts this financial year and getting closer to budget. This year it is paying the firm which built it 57m under the PFI deal. The Octagon Center for the Arts is a non-profit community art center in the heart of downtown Ames, Iowa. 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. Tom works with both the Finance and Property teams on a wide variety of analytical tasks. Estimates as far back as 2004 predicted taxpayers, through the N&N, will pay Octagon more than 1 billion nearly five times the 229m cost of building and opening the hospital. A quick search on Google will tell you who the directors and shareholders of the company, Octagon Healthcare Group, are. 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. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. 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. There are currently over 700 PFI contracts and the bulk will start to expire from 2025. Registered in England & Wales | 01676637 |. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. Privacy, terms and conditions. This is to boot the PFI robbers out of the NHS, along with the rest of the private sector. 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. These have seen rates of return, double, treble and even quadruple. 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. I looked further to find the person who originally posted this false information. in the PFI second . Bad information ruins lives. Various executives from big banks. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. 1158683) and a non-profit company (no. Anthony's other directorships include Arvida Group Limited. None of the firms involved in Octagon responded to our requests for comment. Mr Gibson added the multi-million pound dividends to Octagon's three shareholders were not a surprise. 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 !!! PFI is the voice of US pet food and treat makers and reports that its . Inside, the first impression is that it is state of the art. 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. Browse and apply for the Consulting jobs at Arcadis Read more about our Board of Directors here. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. For the purposes of that scheme, weve rated this claim as partly false It is to be pay cuts, ultra flexibility, and out of hours unpaid overtime, plus sending patients home early, plus compulsory redundancies. Guess who two of the Company Directors are = Tony and Cherie Blair ! Nirali has completed a Bachelor of Commerce and Property conjoint degree from the University of Auckland and is a Chartered Accountant. [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. Leo Benjamin, 17636 Birch Ave., Whiting, IA 51063. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. In October 2018, government announced it would no longer use PFI. [4], The hospital was completed in August 2001, five months ahead of schedule, and on budget. For Professional Investors only. Leo Benjamin, 17636 Birch Ave., Whiting, lA Sl063. If you have a complaint about the editorial content which relates to Member of the Board of Trustees of the Brookings Institution. All in all, fundamental questions are finally being asked about the nature of PFI contracts. 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. 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. John Laing Infrastructure Fund (JLIF) updated shareholders that it would expect 86 per cent of the value of its PFI contracts to be compensated in the event that they were taken back into public ownership. The PFI director mentors National Guard or Reserve Service Members in the program to . Those ads you do see are predominantly from local businesses promoting local services. We will endeavour to minimise these through other measures to reduce pay costs such as those set out above.. Workers Revolutionary Party. It mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. 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. I wanted to ignore them, dismiss them as conspiracy theorists, but surely the renewed interest in an old article and these emails were linked? Editors' Code of Practice. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. 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. 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 . 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 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 way to deal with their claims for financial liability is to nationalise them under workers control without compensation. 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. It was a persuasive argument which seduced many. There is little mention of the N&N or Octagon in its annual reprt. Director - PFI Consultancy. Director since February 2018, last re-elected May 2021. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. 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. [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. Event Calendar; PFI Annual Conference. The hospital opened in 2001 under a deal called a Private Finance Initiative (PFI). c/o B2S Marketing Av. 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' Copyright 2010-2023 Full Fact. Email tom.bristow@archant.co.uk, This website and associated newspapers adhere to the Independent Press Standards Organisation's 'The whole PFI programme was massively ill-judged,' he said. 'The refinancing will release significant resources for the NHS in central Norfolk,' said a press release from the N&N at the time. District 2 (North Central): Mark Tjelmeland, Pamela joined PFI as Finance Manager in 2020. Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. 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 It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. 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 is forecast to run a 32m deficit this year and must find savings of at least 22m by March 2017. In fact, this PFI consists of two schemes. The hospital was built using a PFI. 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. contact IPSO here, 2001-2023. 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. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. Simon was appointed as Chief Executive Officer of PFI in January 2019. These adverts enable local businesses to get in front of their target audience the local community. Greg is also director of Reidy & Co Limited. I searched for Tony Blair and Octagon and came across lots of posts all written this month where people had copied and pasted the same false information: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998 from a press conference in Tokyo they started work the very next day !!! 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. Since I completed my GP training in Tower Hamlets, services have disappeared at an alarming rate. Yet even in the throes of this PFI and outsourcing crisis, public-private Partnerships (PPP) are far from dead and buried. A system of environmental signage provides location-specific information for patients. Privacy, terms and conditions. Director since November 2019, last re-elected June 2020. Data returned from the Piano 'meterActive/meterExpired' callback event. 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. 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. . The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. As a subscriber, you are shown 80% less display advertising when reading our articles. Constantin H. Beier . The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! 'Otherwise you are stuck with it for years and years.' Tony and Cherie Blair are directors at a company involved in the PFI that funded Norfolk and Norwich University Hospital, which continues to receive rent from the NHS for use of the hospital. All 100% Facts = Google them.. Mr Lamb called on the government to look at buying its way out of the 'dreadful deals' made under PFIs. 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. Full Fact fights for good, reliable information in the media, online, and in politics. Poonam Muttreja is the executive director of the Population Foundation of India. One man even threatened to kill the Blairs because of this untrue post. All directors are appointed by shareholders at PFI's annual meeting. Salaries posted anonymously by Octagon employees. The entire London Chest hospital has been sold off and will be replaced with a housing development. If you are dissatisfied with the response provided you can Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. 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. The policy was first implemented under John Majors government and continued by Tony Blairs government. 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.. Dyer currently serves as a director of Liquidity Services and the Grameen Foundation. If we're gonna do that though, there's a risk of . However, it suggests that privately financed hospitals are potentially anticipating something else the expansion of private healthcare. Photo: Archant, Norman Lamb, North Norfolk MP. search. Shop Similar at WAYFAIR Up to 70% OFF Every Day at Wayfair. The hospital under construction at Colney in 2001. All Simon Woodhams Craig Peirce Ewan Cameron Sarah Beale Anthony Beverley David Thomson Greg Reidy Directors should identify why the (Paragraph 2.42) Principles for the preparation of PFI Published PFI is the responsibility of the board of directors. You deserve better. Screens provide live information about how many cases are being handled and the current status of the A&E department. The finance director will support the finance department's growth and day-to-day activities by: Octagon has paid almost 26m in dividends to its three shareholders since 2009; The profits made by Octagon from the hospital are labelled a 'disgrace' by one former health minister; Octagon was paid 42.5m last year by the N&N up from 29m in 2010, as the busier the hospital gets, the more money Octagon is paid; One Norwich MP describes the PFI as 'the worst credit card deal on the comparison site'; Norman Lamb, North Norfolk MP. Whats more, PFI payments have been indexed higher with each successive year regardless of a hospitals revenue. The domino effect has shades of the 2007-08 financial crisis even though it is clearly not of the same magnitude. 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. Madeline Serpico US Chief Executive Officer-Multinational Clients. 2003: The hospital 'refinances' its PFI deal with Octagon. Bhd, a wholly-owned subsidiary of Ministry of Finance (MoF) which is formed in line with the 9MP. [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. From 1999 through to 2017, Dean was Managing Director of Freightways Limited (Freightways). The other biggest shareholder, 3i, invests in infrastructure projects across the world. The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. This year. "The PFI would like to congratulate Tracey Forfa on being named the new director of the FDA's CVM," said Dana Brooks, president and chief executive officer of PFI. That this is completely unacceptable and has to be dealt with is obvious. [1] She has more than 35 years of experience in the socio-development sector. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. 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. The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. The ballast sides support your arms while making it easy to fold the chair away when not in use. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. This is clearly beneficial for patients and reduces the risk of transmission of infections. Auckland, 1010. Maybe the press and reporters should start taking more responsibility for the mess ffs. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . The text on the post reads: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998. At the end of the contract, ownership of the hospital will pass to the NHS.
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