SPIN is a good thing, she does not say from government, just mixed messaging. You deserve better. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. . Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. 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 !. It cannot get out of the deal until 2037 at the earliest. 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. However, we observed that some improvements were needed". (712) 458-2001. 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 Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. I was against it in principle,' he said. 1. District 2 (North Central): Mark Tjelmeland, This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. Jodie is responsible for the asset management of a portfolio of PFI's properties. But at the current rate of payment it would take more than 60 years to clear the debt. And in a 2004 long read for Private Eye the late Paul Foot exposed the seedy underbelly of its history. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. (Paragraph 2.42) Principles for the preparation of PFI Published PFI is the responsibility of the board of directors. Chairman of Imperial College Healthcare Sir Richard Sykes has previously pointed out that Barts Health is paying over 100m in interest a year before they see a single patient. However this plays out, it looks like the stage is set for the final act of the PFI story. A Gannett Company. All 100% Facts = Google them. 06975984) limited by guarantee and registered in England and Wales. Thanks to Bytemark for donating our web hosting. Corporate and commercial: Birmingham 'The whole PFI programme was massively ill-judged,' he said. She previously held a variety of roles across property finance, risk, compliance and governance in the banking sector. 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. It means Octagon's turnover is increasing every year. None of the firms involved in Octagon responded to our requests for comment. Norfolk and Norwich University Hospitals NHS Foundation Trust Arthur South Day Procedure Unit entrance The proposed variation to the PFI contract . Pfizer Director since 2014. We urge you to accept the moral case for offering a share in this gain'.'. 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. 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. The hospital was built using a PFI. 2014: Hospital goes into deficit for first time. Prior to this,Simon was General Manager of PFI from mid-2013, and prior to that, General Manager of Direct Property Fund (DPF) before PFI's merger with (DPF) in 2013, having joined McDougall Reidy & Co Limited as Development Manager in 2005. Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of PFI. For Professional Investors only. Guiding and overseeing the survey on expiry Review of asset / service data provide by the SPV / PFI service provider/sSupporting future . 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. About Octagon. Bhd. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. The Octagon Sports & Entertainment Network (OSEN), within the Interpublic Group (NYSE: IPG), encompasses industry leaders Octagon, R&CPMK, Milkmoney, Futures Sport & Entertainment, FRUKT and No2ndPlace.This formidable family of agencies specializes in sports, entertainment and lifestyle marketing, and public relations for brands, athletes, and celebrities. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. Press Association corrects error in reporting on research for prostate cancer test. 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. Octagon sub-contracts those day-to-day services to Serco. 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 promotes hate, damages peoples health, and hurts democracy. 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. 2000: The N&N becomes the first big hospital to be built in the NHS under the Private Finance Initiative (PFI). 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. . She has been acting as the CVM's director since Steven M. Solomon's retirement in December 2022. The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. [4], The hospital was completed in August 2001, five months ahead of schedule, and on budget. She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). Press Association corrects error in reporting on research for prostate cancer test. [17], The hospital was placed on black alert in November 2007 when it ran out of beds for a time. He is a graduate of Canterbury University where he completed his Bachelor of Commerce majoring in Accounting and Marketing. It was paid 42.5m last year by the N&N up from 29m in 2010. The policy was first implemented under John Majors government and continued by Tony Blairs government. As Alan Milburn the former Labour Health Secretary described by Private Eye as an almost maniacal convert to PFI put it: Its PFI or bust.. Listed on 2023-02-23. About PFI. 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. Michael has held a variety of roles within the property industry and is also a member of the Auckland Aces Cricket team. At the end of the contract, ownership of the hospital will pass to the NHS. Dr. William Thornton, the first architect of the U.S. Capitol, designed the house and gave the growing federal city a grand home to help build Washington's reputation. But why does it then wrongly name the Blairs as company directors? The Norfolk and Norwich University Hospital. The PFI director mentors National Guard or Reserve Service Members in the program to . (712) 466-2473. 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. The hospital was built using a PFI. (712) 466-2473. "[10], The hospital neighbours the constituency of South Norfolk MP Richard Bacon, also a member of the Public Accounts Committee. The NHS is on its knees. However, it suggests that privately financed hospitals are potentially anticipating something else the expansion of private healthcare. 2023 PFI Annual Conference; 2022 PFI Annual Conference; 2021 PFI Annual Conference; 2020 VirtuallyPFI Online Conference; 2019 PFI Annual Conference Photos No wonder! It mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. Tom works with both the Finance and Property teams on a wide variety of analytical tasks. As one comes out of Whitechapel Tube station, the new Royal London hospital certainly looks impressive. Photo: Parliament TV (Image: Archant). It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. We have also tried to contact Octagon's director. St. Louis, MO 63108 Phone: (800) 500-8130 or (314) 371-6000, ext. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. All directors are appointed by shareholders at PFI's annual meeting. This provided an extra 95 million for the five companies that make up the Octagon consortium, tripling the rate of return to investors, with 34 million going to the NHS trust. If you are dissatisfied with the response provided you can Screens provide live information about how many cases are being handled and the current status of the A&E department. Full Fact is a registered charity (no. Yet even in the throes of this PFI and outsourcing crisis, public-private Partnerships (PPP) are far from dead and buried. However, it is not true that Tony or Cherie Blair are, or have ever been, directors of the companies that make up the Octagon Healthcare Group. Mr Lamb called on the government to look at buying its way out of the 'dreadful deals' made under PFIs. 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. "[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. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. And that right was only obtained by taking on huge extra potential liabilities. Imagine being whipped into such a frenzy by a Facebook post, which you havent even bothered to check the accuracy of. It has investments in 57 projects, worth 17.3 billion, according to its website. 2003: The hospital 'refinances' its PFI deal with Octagon. 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. . In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. Bad information ruins lives. contact IPSO here, 2001-2023. 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. '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. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. Furthermore, the catch-all of commercial confidentiality has erected a firewall. The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting. I wanted to ignore them, dismiss them as conspiracy theorists, but surely the renewed interest in an old article and these emails were linked? PFI Panel board bd Power Factor Improvement Panel Board bd . Intriguingly, PFI hospitals have been designed with significant numbers of individual rooms as opposed to conventional wards. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. 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 hospital was reportedly the biggest built using a PFI contract at the time. Poonam Muttreja. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Provide Your Feedback on Law Firms. 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. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. Leo Benjamin, 17636 Birch Ave., Whiting, lA Sl063. 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 . https://infogr.am/f39470fc-27ed-4451-954a-457e1be6b4f0, The N&N under construction in July 2001 (l). Powerlinebd.com 01760002011 Power Line. Photo: Archant, Norman Lamb, North Norfolk MP. 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. 3 It has found that government does . Copyright 2010-2023 Full Fact. 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. Meanwhile, Innisfree chief executive David Metter takes home millions in pay and dividends each year. All in all, fundamental questions are finally being asked about the nature of PFI contracts. Similar schemes across London and the country have been plagued with controversy. Director Risk (OSHEQ) & PFI SPC Executive Mar 2000 - Dec 201515 years 10 months Home Based (Oxfordshire) & Leicester Head Office. At the end of the contract, ownership of the hospital will pass to the NHS. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. Requires an industry partner. 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