Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. A system of environmental signage provides location-specific information for patients. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. Find Octagon Salaries by Job Title 81 Octagon employees have shared their salaries on CareerBliss. 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. Nick works with both the Finance and Property teams on a wide variety of analytical tasks, including budgeting / forecasting and valuations, as well as assisting with the execution of projects and transactions. However, repayments will reach 7.1bn by 2049. Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. Pembinaan PFI Sdn. Sir Howard Davies, chairman of the Royal Bank of Scotland (RBS), recently made an astonishing admission on BBC1s Question Time when he stated that private finance initiatives (PFI) had been a fraud on the people. September 2003 National cancer director Professor Mike Richards formally opened the 20 million Colney Centre for Oncology and Haematology patients at the Norfolk and Norwich University Hospital. The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. The domino effect has shades of the 2007-08 financial crisis even though it is clearly not of the same magnitude. The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting. HP10 9TY. Shop Similar at WAYFAIR Up to 70% OFF Every Day at Wayfair. Privacy, terms and conditions. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. 15 Galway Street 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. Sure enough, there is some evidence of the tide turning. Full Fact is a registered charity (no. You deserve better. 218 Fax: (314) 735-4118 E-mail: youthclubs@optimist.org or amy.keller@optimist.org For Professional Investors only. None of the firms involved in Octagon responded to our requests for comment. 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. As a subscriber, you are shown 80% less display advertising when reading our articles. Meanwhile, dividends to Octagon's shareholders were up 35pc last year from just under 5m in 2014 and have increased by 700pc since 2013 when they were 834,000. And in a 2004 long read for Private Eye the late Paul Foot exposed the seedy underbelly of its history. Vercity also employs talented senior finance experts, comprising finance directors, operations managers, management accountants and financial controllers. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . Furthermore, the Government is pushing through Accountable Care Organisations (ACO), a form of PPP based on an American model of healthcare. 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. He said he would also be writing to Octagon. 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. Photo: Archant, Norman Lamb, North Norfolk MP. Requires an industry partner. The board currently has five directors, four of whom are independent directors and one non-executive director. It only got a small amount of traction. 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. 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. The finance director will support the finance department's growth and day-to-day activities by: 06975984) limited by guarantee and registered in England and Wales. THE Octagon private sector consortium has been branded the unacceptable face of capitalism by a House of Commons committee. And that right was only obtained by taking on huge extra potential liabilities. 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. Prior to joining PFI, Savanna worked as a commercial property manager looking after diverse range of industrial, retail and office properties. Apr 23, 2020 Happy St George's Day to Palestinians, English, Georgians, Serbs, Portuguese, Maltese and Lithuanians everywhere who share his named day! Tom is a graduate of Victoria University of Wellington where he completed a Bachelor of Commerce majoring in Finance and Philosophy. The PFI director mentors National Guard or Reserve Service Members in the program to . Listed on 2023-02-23. This page was last edited on 9 February 2023, at 11:41. 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. The unacceptable face of capitalism. All accounts receivable matters are being handled by Timothy Low in her absence. It received 3m from Octagon last year. You can read more about thisand find out how to report Facebook contenthere. Sav joined the PFI team as Property Manager in early 2022. Guess who two of the Company Directors are = Tony and Cherie Blair ! 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. Barts Health eventually ran into financial dire straits and was put into special measures by the Care Quality Commission in 2015. 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. 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 mutated into a taskforce inside HM Treasury and was eventually rebranded as Partnerships UK. Level 4, Hayman Kronfeld Building contact IPSO here, 2001-2023. Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. Jodie is responsible for the asset management of a portfolio of PFI's properties. More. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. Yet there is also an aesthetic and functional brutalism with labyrinthine corridors and sunless, windowless rooms. Full-Time. All 100% Facts = Google them. Simply centralising the debt might still mean taxpayers forking out billions as profits for PFI consortia. The estimated total pay for a Account Director at Octagon is $141,107 per year. Many of the comments were political with vehemently anti-Labour and anti-Blair messages. Sue enough, the big four accountancy firms, EY, KPMG, Deloitte and PwC, were present at the inception of PFI. This is not some exceptional example of the unacceptable face of capitalism. The Norfolk and Norwich University Hospital. Providing technical leadership to grow the teams capability. 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. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. Press Association corrects error in reporting on research for prostate cancer test. The subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. From 1999 through to 2017, Dean was Managing Director of Freightways Limited (Freightways). In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Since graduating Auckland University in 2013, Luke has held a variety of roles in, commercial, industrial, retail and residential property management. [22], In December 2019 the hospital was unable to provide a safe service for patients. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. Constantin H. Beier . Director since 2012, last re-elected May 2021. In October 2018, government announced it would no longer use PFI. 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. Leo Benjamin, 17636 Birch Ave., Whiting, IA 51063. . 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. 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. If you have a complaint about the editorial content which relates to 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. Up and down the country, this is the slick, corporate sheen of PFI hospitals. Of course, it can not police every post, it is up to us the user to take care of what we believe. It is one of the largest hospitals in the United Kingdom in terms of in-patient capacity. 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. Screens provide live information about how many cases are being handled and the current status of the A&E department. In addition to his Managing Director role, Dean was also a director of the public policy think tank The New Zealand Initiative and its predecessor the New Zealand Business Roundtable from 2011 to 2015. Beyond seemingly populist rhetoric, the real story of PFI reveals that RBS alongside other global banks, notably HSBC, were instrumental in what Sir Howard has effectively labelled a great heist. The proposed variation to the PFI contract . Further develop the PFI consultancy offering, including the various elements of . That this is completely unacceptable and has to be dealt with is obvious. 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. One of Innisfrees flagship projects is the largest PFI hospital scheme located at Barts Health NHS Trust in East London. Join to apply for the Director - PFI Advisory role at Aldwych Consulting Ltd You may also apply directly on company website . Quote Tweet. [7], A 4.5m radiotherapy cancer treatment unit, the Winterton Unit, at the Norfolk and Norwich University Hospital, was opened by the Duke of Gloucester in May 2014. Pfizer Director since 2014. Start your Independent Premium subscription today. 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. It was a persuasive argument which seduced many. To make matters worse for the hospital, the busier it gets, the more it has to pay Octagon and demand on it has soared. Greg is also director of Reidy & Co Limited. And he urged the hospital to request money back from Octagon. Octagon has a 60-year contract with the hospital to provide it with those non-clinical services. Samantha joined PFI as Systems & Reporting Manager in 2022. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. The hospital says it is paying Octagon around 57m a year. There are currently over 700 PFI contracts and the bulk will start to expire from 2025. 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. Yet even in the throes of this PFI and outsourcing crisis, public-private Partnerships (PPP) are far from dead and buried. 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. 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. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. 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. As the voice of U.S. pet food makers for more than 60 years, we provide factual information about pet food and treat safety, nutrition, and health to pet . 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 . 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. 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. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. What you will be doing. Michael has held a variety of roles within the property industry and is also a member of the Auckland Aces Cricket team. This site is part of Newsquest's audited local newspaper network. 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