Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. 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 Norfolk and Norwich University Hospital. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Under the PFI, a private sector consortium builds and maintains the building and then leases it back to the public sector. Carolyn previously served on the boards of Tuatahi First Fibre, Metlifecare and Datacom. Guess who two of the Company Directors are = Tony and Cherie Blair ! Before joining PFI, she worked with the MacArthur Foundation as Country Director where she was responsible for the Foundation's grants in India. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. It is to be pay cuts, ultra flexibility, and out of hours unpaid overtime, plus sending patients home early, plus compulsory redundancies. 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. 1158683) and a non-profit company (no. Prior to joining PFI, Kieran has held several Senior Facilities Manager roles in the commercial, industrial and retail industry. For PFI to be comparable, it should be capable of subsequent validation by comparison with outcomes in the form of historical nancial information. I looked further to find the person who originally posted this false information. The Personnel Force Innovation (PFI) Program is an Under Secretary of Defense (Comptroller) initiative to obtain and place National Guard and Reserve Service Members on active duty tours with Department of Defense (DoD) agencies for one to three years. It seemed too good to be true yet those who dared to question the orthodoxy du jour were swatted away. 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. . 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. Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. This figure may certainly prove to be questionable. Photo: Stefan Rousseau/PA Wire (Image: The Press Association). Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. Michael has held a variety of roles within the property industry and is also a member of the Auckland Aces Cricket team. For Professional Investors only. Notice Details. Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. Mr Lamb called on the government to look at buying its way out of the 'dreadful deals' made under PFIs. I was against it in principle,' he said. Golf Clients . Intriguingly, PFI hospitals have been designed with significant numbers of individual rooms as opposed to conventional wards. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. But at the current rate of payment it would take more than 60 years to clear the debt. On the contrary, the Naylor Review a report recommending the disposal of NHS land and assets to generate investment is rehabilitating PPP. 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. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. The hospital opened in 2001 under a deal called a Private Finance Initiative (PFI). Anthony is a professional director and consultant, consulting to both the private and public sector on a wide variety of property matters. Other regulatory action awaits, with ongoing. One man even threatened to kill the Blairs because of this untrue post. 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. Jesus Soriano, Program Director, [email protected], (703) 292-7795 Katie Bratlie, Program Director, [email protected], (703) 292-2638 Samir Iqbal, Program Director, [email protected], (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 Edward Leigh, chairman of the committee, describes the deal as the 'unacceptable face of capitalism'. Angela is also a qualified lawyer with significant expertise in environment and property law. [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. Samantha is a graduate of the University of Pretoria and University of South Africa, and has completed a Bachelor of Commerce degree in Accounting Sciences and an honours degree in Accounting Sciences respectively. 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. This is clearly beneficial for patients and reduces the risk of transmission of infections. 2014: Hospital goes into deficit for first time. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. The finance director will support the finance department's growth and day-to-day activities by: The text on the post reads: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998. 1158683) and a non-profit company (no. Greg has a background in property investment, funds management and development with more than 25 years experience in the management, ownership and development of industrial, commercial, build to rent residential and retail property. This site is part of Newsquest's audited local newspaper network. Similar schemes across London and the country have been plagued with controversy. 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. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. The PFI costs take up around 10pc of its annual budget. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. It promotes hate, damages peoples health, and hurts democracy. And in a 2004 long read for Private Eye the late Paul Foot exposed the seedy underbelly of its history. This page was last edited on 9 February 2023, at 11:41. 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.. 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. . 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. In October 2018, government announced it would no longer use PFI. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. He is not. THE Octagon private sector consortium has been branded the unacceptable face of capitalism by a House of Commons committee. 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. Want to bookmark your favourite articles and stories to read or reference later? 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. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. All this has thrown up searching questions, not least around staff redundancies and pensions, bailouts, inflated dividends and executive remuneration. [2] This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. The proposed variation to the PFI contract is to . There are fewer junior doctor offices and overnight rooms. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. 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. 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. 2003: The hospital 'refinances' its PFI deal with Octagon. Carolyn recently joined PFIs Board in August 2022. Ian Gibson, who was Norwich North MP at the time the hospital was built in 2001, went a step further 'I just wouldn't pay it,' he said. 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. We will endeavour to minimise these through other measures to reduce pay costs such as those set out above.. Pfizer Director since 2014. Posted: January 11, 2023. 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. But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. 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 !. Whether it's Blair . 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. District I (Northwest): Ken Wise, 3S66 28oth St., Lytton, lA 50561-7574. Registered in England & Wales | 01676637 |. The total bill for NHS PFI hospitals is ultimately projected to rise above 79bn, way in excess of original build costs of 11.4bn. For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. Nirali is currently on maternity leave until September 2023. Press Association corrects error in reporting on research for prostate cancer test. Of course, PFI was not always a toxic brand. (712) 4S8-2001. St. Louis, MO 63108 Phone: (800) 500-8130 or (314) 371-6000, ext. Copyright 2010-2023 Full Fact. Director - PFI Advisory Zeemac Vehicle Acquisition & Fleet ServicesSouth East, South-East District, Botswana Apply Join or sign in to find your next job Join to apply for the Director - PFI. 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. The PFI team are New Zealand's industrial property experts. (712) 458-2001. 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 !!! 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]. It promotes hate, damages peoples health, and hurts democracy. In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. 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 !. PFI is an NZX listed property vehicle focused on the industrial sector. 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. She has previously held roles in the property industry. 'When it was first proposed, Frank Dobson (the then health secretary) told us it was signed, sealed, delivered. 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. It can be hard to do that when we love to read and believe things which confirm our prejudices. 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). Innisfree a fund management company in the City of London is amongst the biggest players in the PFI market. The management is saying: There is only one way that this jobs massacre can be lessened. The way to do this is for all health workers to demand that their unions stop all the job and bed cuts and the ward and hospital closures with industrial action to bring down the Blair government, the sponsor and protector of the PFI and private sector bandits. You deserve better. The estimated base pay is $107,006 per year. 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. This was true as of the year 2017-2018, with payment charge for that year recorded as 59 million. 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. She is also a Chartered Accountant (South Africa). A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times. The hospital was reportedly the biggest built using a PFI contract at the time. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. 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. 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. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. 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