Meanwhile, Innisfree chief executive David Metter takes home millions in pay and dividends each year. The total bill for NHS PFI hospitals is ultimately projected to rise above 79bn, way in excess of original build costs of 11.4bn. Ive messaged him, asking why he shared it. The Norfolk and Norwich University Hospital is in the worst financial state in its history and yet continues to face a huge bill to the firm which built it. [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. Corporate and commercial. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. Director, PFI and PVC (since 2023) Trustee, PDSRA and PETF (since 2023) . But there is another way. The domino effect has shades of the 2007-08 financial crisis even though it is clearly not of the same magnitude. Data returned from the Piano 'meterActive/meterExpired' callback event. 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. Company website; Company jobs; . It later transpired that the process of bringing in PFI had not exactly been transparent. Angela recently joined PFIs Board in February 2023. All 100% Facts = Google them. None of the firms involved in Octagon responded to our requests for comment. We urge you to accept the moral case for offering a share in this gain'.'. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. 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 policy was first implemented under John Majors government and continued by Tony Blairs government. Notice Details. Director - PFI Consultancy. Be seen as the team's 'go to' subject matter expert in relation to PFI. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. The Blairite Third Way would somehow square the circle by delivering new schools, hospitals, roads, railways and prisons without the debt or inefficiency of the public sector. 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. It promotes hate, damages peoples health, and hurts democracy. District 2 (North Central): Mark Tjelmeland, Jon Wiegand Head-Power, UK Global Broking Center. It received 3m from Octagon last year. 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 Octagon Center for the Arts is a non-profit community art center in the heart of downtown Ames, Iowa. Pamela works closely with the Property team and other members of the Finance team of PFI. Rodrigo joined PFI as Asset Manager in 2020 and was promoted to Asset and Development Manager is 2022. The initial cost of 229m is paid for through Octagon. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. The level of subsequent potential risks and costs borne by the public sector was thought by some critics of the deal to be unacceptably high. These initial tremors might be the canary in the coal mine. Since graduating Auckland University in 2013, Luke has held a variety of roles in, commercial, industrial, retail and residential property management. Listing for: ALDWYCH CONSULTING LTD. Full Time position. Ewan has a valuation background and is a graduate of both Lincoln and Cambridge University. Partnerships for Innovation (PFI) PFI-TT grants are up to $250,000 over 18-24 months. "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. More. 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. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. May 8, 2020. Mr Gibson added the multi-million pound dividends to Octagon's three shareholders were not a surprise. 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. THE Octagon private sector consortium has been branded the unacceptable face of capitalism by a House of Commons committee. Genevieve (Gen) joined PFI as Office Administrator in 2022. Craig is a graduate of Auckland University and is a Chartered Accountant, having trained as an auditor at PwC. 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. Full-Time. Editors' Code of Practice. The finance director will support the finance department's growth and day-to-day activities by: Same goals than PFI-TT. 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. 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. Shalini is a graduate of the University of the South Pacific having completed a double major Bachelor of Arts degree in Accounting & Financial Management and Economics. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. Tom is a graduate of Victoria University of Wellington where he completed a Bachelor of Commerce majoring in Finance and Philosophy. Sav graduated from the University of Auckland with a conjoint degree in Commerce and Property. The proposed variation to the PFI contract . Rodrigo holds a property degree from Lincoln University and has over 12 years of experience, with the last five years specialising in the management of syndicated properties across New Zealand. It has even been described as owning outright three NHS hospitals. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. Our verdict The hospital was built using a PFI. He is not. 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 . It promotes hate, damages peoples health, and hurts democracy. 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. He then practiced law in Wellington and London, before returning to Buddle Findlay in 2000 and becoming a partner of the firm in Auckland in 2002. To save the NHS we must go forward to a workers government. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. The PFI costs take up around 10pc of its annual budget. Bad information ruins lives. For Professional Investors only. Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. [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. A system of environmental signage provides location-specific information for patients. 'Why doesn't the government stand up and say, 'we are not going to pay'? 218 Fax: (314) 735-4118 E-mail: youthclubs@optimist.org or amy.keller@optimist.org St. Louis, MO 63108 Phone: (800) 500-8130 or (314) 371-6000, ext. Copyright 2010-2023 Full Fact. That includes 20.7m in operating expenses and 29m in non-operating expenses the lease, interest and financing the debt to Octagon. 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. Simon was appointed as Chief Executive Officer of PFI in January 2019. Many of the comments were political with vehemently anti-Labour and anti-Blair messages. We will endeavour to minimise these through other measures to reduce pay costs such as those set out above.. Pamela has completed a Bachelor of Commerce degree from the University of Auckland and is a Chartered Accountant. 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. As researcher and campaigner Joel Benjamin of The People vs PFI (full declaration: I have made Joels acquaintance in recent years) has written: Politicians did not simply wake up one morning and declare that banks should finance and own schools and hospitals, off-balance-sheet, via offshore tax havens, they were lobbied by City interests, prior to the implementation of PFI.. Pembinaan PFI Sdn. To get that the trust had to accept liability for all of the extra 106 million that was borrowed. 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. 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). 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 whole PFI programme was massively ill-judged,' he said. in the PFI second . Jordon Trishton Walker, Pfizer Director of Research and Development, Strategic Operations - mRNA Scientific Planner: "One of the things we're exploring is like, why don't we just mutate it [COVID] ourselves so we could create -- preemptively develop new vaccines, right? Leo Benjamin, 17636 Birch Ave., Whiting, IA 51063. In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. Of course, PFI was not always a toxic brand. But at the current rate of payment it would take more than 60 years to clear the debt. das Americas, 3.434 - Gr. Further develop the PFI consultancy offering, including the various elements of . 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. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. The key individuals have extensive experience in the . Our verdict The hospital was built using a PFI. ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. The ballast sides support your arms while making it easy to fold the chair away when not in use. has the same accountability of Pembinaan BLT Sdn. It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. 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. 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. Want to bookmark your favourite articles and stories to read or reference later? 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. (712) 466-2473. Greg is also director of Reidy & Co Limited. The consortium which financed NNUH is called Octagon Healthcare. That 20m would pay the wages of 800 nurses, or 200 GPs. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. We have contacted Octagon's shareholder companies but have not had a response. It is a socialist paper and gives particular coverage to Trades Union and International news. The hospital estimates the deal is costing it an extra 20m a year than a non-PFI deal. Please click on the names below to learn more about the PFI team. All Simon Woodhams Craig Peirce Ewan Cameron Sarah Beale Anthony Beverley David Thomson Greg Reidy 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. Inside, the first impression is that it is state of the art. 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. The estimated base pay is $107,006 per year. 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. She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). These adverts enable local businesses to get in front of their target audience the local community. Photo: Archant, Norman Lamb, North Norfolk MP. 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. And in a 2004 long read for Private Eye the late Paul Foot exposed the seedy underbelly of its history. 1998: Labour government announces a new hospital for Norwich. 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'. Innisfree paid 5.8m to its eight directors in 2015, including 3.2m to one unnamed director, according to its financial report. 02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . Various executives from big banks. Photo: PA Wire. 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. Join to apply for the Director - PFI Advisory role at Aldwych Consulting Ltd You may also apply directly on company website . Long-time critic of PFI Professor Pollock argues that these mergers will be followed by the final wave of closures in the run-up to privatisation and franchising out. The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. 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. Requires an industry partner. This page was last edited on 9 February 2023, at 11:41. 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. Powerlinebd.com 01760002011 Power Line. Octagon Brazil. contact the editor here. Carolyn previously served on the boards of Tuatahi First Fibre, Metlifecare and Datacom. Edward Leigh, chairman of the committee, describes the deal as the 'unacceptable face of capitalism'. 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. Do Rishi Sunaks claims about hospital discharge funding stack up? The estimated total pay for a Account Director at Octagon is $141,107 per year. Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. About PFI. The subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. Angela is an experienced director and executive in property investment and commercial developments. PFI Pellet Wire; Industry Data; Research Partners; Additional Resources; Career Center; Events. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. All investments involve risk, including the possible loss of capital. If you wanted to keep it simple then the PFI debt would cover the entire NHS budget for over 2 years. 'When it was first proposed, Frank Dobson (the then health secretary) told us it was signed, sealed, delivered. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. PFIs are complex, financial instruments and the answers to how they might be brought to heel or cancelled need to be carefully thought out. 1158683) and a non-profit company (no. 06975984) limited by guarantee and registered in England and Wales. It cannot get out of the deal until 2037 at the earliest. PFI-RP grants are up to $550,000 over 36 months. Prior to joining PFI, she held roles in hospitality, retail and travel. And that right was only obtained by taking on huge extra potential liabilities. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. Ive been getting some weird emails recently. Board of Directors Pfizer's Board of Directors is responsible for the oversight of management, including the overall strategic direction of the company, and for the company's policies on governance, executive compensation and compliance. Picture: Archant (Image: Archant 2018). 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 estimated additional pay is $34,101 per year. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . https://infogr.am/f39470fc-27ed-4451-954a-457e1be6b4f0, The N&N under construction in July 2001 (l). 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. Proof-of-concept demonstrations, prototypes. Carolyn has a background in investment management, capital markets and mergers and acquisitions, having spent six years as a portfolio manager at the Guardians of New Zealand Superannuation, and ten years prior to that in investment banking at Forsyth Barr and First NZ Capital / Credit Suisse. 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. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. 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. This site is part of Newsquest's audited local newspaper network. 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. Norfolk and Norwich University Hospitals NHS Foundation Trust Arthur South Day Procedure Unit entrance 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' To put it into perspective, the PFI debt is four times the size of the budget deficit used to justify austerity. A Gannett Company. Data returned from the Piano 'meterActive/meterExpired' callback event. However, repayments will reach 7.1bn by 2049. 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. No wonder! 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Keep it simple then the PFI costs and mandated staffing levels want to bookmark your favourite articles and to... Pfi was not always a toxic brand, Whiting, IA 51063 paid 5.8m to financial... Diploma of Business ( Finance ) 's shareholder companies but have not had a response Partners Additional. Pfi programme was massively ill-judged, ' he said its liability for all of the University of Auckland, she! Was massively ill-judged, ' he said construction in July 2001 ( l ) including 3.2m one! Private Eye the late Paul Foot exposed the seedy underbelly of its budget! 20M a year than who are the directors of pfi octagon non-PFI deal including the possible loss of capital as Office Administrator in.!
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