who are the directors of pfi octagon

02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . All 100% Facts = Google them. The key individuals have extensive experience in the . No wonder! The domino effect has shades of the 2007-08 financial crisis even though it is clearly not of the same magnitude. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. Director since 2001, last re-elected June 2020. The PFI team are New Zealand's industrial property experts. This was true as of the year 2017-2018, with payment charge for that year recorded as 59 million. This year it is paying the firm which built it 57m under the PFI deal. Same goals than PFI-TT. She is also a Chartered Accountant (South Africa). Press Association corrects error in reporting on research for prostate cancer test. 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. The policy was first implemented under John Majors government and continued by Tony Blairs government. About PFI. Notice Details. This is clearly beneficial for patients and reduces the risk of transmission of infections. He was until recently a member of Buddle Findlay's board for seven years. Level 4, Hayman Kronfeld Building Intriguingly, PFI hospitals have been designed with significant numbers of individual rooms as opposed to conventional wards. 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. 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. Inside, the first impression is that it is state of the art. 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. 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. Poonam Muttreja is the executive director of the Population Foundation of India. "[10], The hospital neighbours the constituency of South Norfolk MP Richard Bacon, also a member of the Public Accounts Committee. The estimated base pay is $107,006 per year. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. Sav joined the PFI team as Property Manager in early 2022. All accounts receivable matters are being handled by Timothy Low in her absence. The trust has announced they it may have to lose 450 jobs this year. 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. 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. HP10 9TY. Similar schemes across London and the country have been plagued with controversy. 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]. contact IPSO here, 2001-2023. 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. Jon Wiegand Head-Power, UK Global Broking Center. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. 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. What you will be doing. Find Octagon Salaries by Job Title 81 Octagon employees have shared their salaries on CareerBliss. If you wanted to keep it simple then the PFI debt would cover the entire NHS budget for over 2 years. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. 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. Registered in England & Wales | 01676637 |. The post also claims that NNUH has paid over 50 million a year to rent the hospital, and this will continue until 2037. This website and associated newspapers adhere to the Independent Press Standards Organisation's Picture: Archant (Image: Archant 2018). Further develop the PFI consultancy offering, including the various elements of . [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. 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. 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.. Inevitably there will also be job losses; we expect that a significant number of these will be lost through normal staff turnover but sadly some redundancies may be inevitable. 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. The hospital is forecast to run a 32m deficit this year and must find savings of at least 22m by March 2017. 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. Amy Keller, Director of JOOI 4494 Lindell Blvd. Do Rishi Sunaks claims about hospital discharge funding stack up? MPs on the public accounts committee say Octagon used a refinancing deal of the Norfolk and Norwich PFI (Private Finance Initiative) hospital project to boost the investors return by a gigantic 153 million, and to increase the liability of the hospital trust to 257 million if it needed to terminate the contract early. 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. That this is completely unacceptable and has to be dealt with is obvious. The other paid out almost 7m to shareholders last year, has just reported a record profit, and turned over 42m last year. Prior to that, Rodrigo was involved in the management of a nationwide government property portfolio and worked in commercial management within the aerospace industry in Germany. 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. However, repayments will reach 7.1bn by 2049. Registered in England & Wales | 01676637 |. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. Jodie joined PFI as Property Manager in 2012and was promoted to Asset Manager in 2020. Luke is responsible for property management at PFI. It is one of the largest hospitals in the United Kingdom in terms of in-patient capacity. Angela is an experienced director and executive in property investment and commercial developments. The Norfolk and Norwich University Hospital has been visited by a number of notable people in public life; On this Wikipedia the language links are at the top of the page across from the article title. But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. 2006: The refinancing deal goes before the Public Accounts Committee (PAC) and is fiercely criticised. Listing for: ALDWYCH CONSULTING LTD. Full Time position. This figure may certainly prove to be questionable. All in all, fundamental questions are finally being asked about the nature of PFI contracts. 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. contact the editor here. Angela is also a qualified lawyer with significant expertise in environment and property law. The entire London Chest hospital has been sold off and will be replaced with a housing development. On 11 January 1998, Prime Minister Tony Blair announced the go-ahead for the construction of a 214 million, 809 bed, new hospital in a broadcast from Tokyo on the BBC's Breakfast with Frost show. Poonam Muttreja. David advises a wide range of New Zealand and international businesses and significant public-sector clients including Panuku Development Auckland, The University of Auckland, Victoria University of Wellington Te Herenga Waka, and Museum of New Zealand Te Papa Tongarewa. Angela recently joined PFIs Board in February 2023. In July 2000 approval was given to extend the Norfolk and Norwich University Hospital with a second phase that included an additional 144 beds and took the project cost to 229 million. 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. Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. Full Fact is a registered charity (no. 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. Indeed, the National Audit Office has recommended that the Government should have the power to cancel contracts which are not providing value for money. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. That 20m would pay the wages of 800 nurses, or 200 GPs. [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. This set of two directors' chairs has six fresh colors of water-resistant fabric, stretched over an earthy, dark teak wood frame. 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. Copyright 2010-2023 Full Fact. PFI-RP grants are up to $550,000 over 36 months. Other regulatory action awaits, with ongoing. My comment telling them theyve got it wrong, will be lost amid the 500 comments and anyway it is too late. Leo Benjamin, 17636 Birch Ave., Whiting, lA Sl063. Furthermore, the catch-all of commercial confidentiality has erected a firewall. 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.. (712) 458-2001. https://infogr.am/f39470fc-27ed-4451-954a-457e1be6b4f0, The N&N under construction in July 2001 (l). [4], The hospital was completed in August 2001, five months ahead of schedule, and on budget. Tom works with both the Finance and Property teams on a wide variety of analytical tasks. This is to boot the PFI robbers out of the NHS, along with the rest of the private sector. It received 3m from Octagon last year. Pamela has completed a Bachelor of Commerce degree from the University of Auckland and is a Chartered Accountant. Corporate and commercial. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. Ive been getting some weird emails recently. This leadership is the WRP. Prior to joining PFI, she has held roles in various industries including the private equity industry in London and shopping centres portfolio in New Zealand. A report to the N&N's board warns it may struggle to find savings. Kam works closely with the rest of the PFI finance and property teams, with a particular focus on the accounting for PFI's tenants and properties. If we're gonna do that though, there's a risk of . Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. 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. Naturally, there are very serious concerns about jobs. Of course, PFI was not always a toxic brand. There are many precedents for renationalising privatised services when it is in the public interest. Providing technical leadership to grow the teams capability. 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 . If you are dissatisfied with the response provided you can 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 Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Shop Similar at AMAZON. He is currently a Director of Tainui Group Holdings Limited, Air New Zealand Limited, and Port of Tauranga Limited and is a member of the Executive Board of the Halberg Foundation. You deserve better. None of the firms involved in Octagon responded to our requests for comment. 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. (712) 466-2473. 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. Up and down the country, this is the slick, corporate sheen of PFI hospitals. These have seen rates of return, double, treble and even quadruple. Octagon sub-contracts those day-to-day services to Serco. 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. It hopes to pay Octagon off by 2037 the earliest opportunity it has to end the contract. However this plays out, it looks like the stage is set for the final act of the PFI story. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. 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 David was raised in Christchurch, where he completed commerce and law degrees at the University of Canterbury. Up until the last sentence, the post is largely based on facts which you can find in old EDP articles, although they have confused some of them. 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. Full Fact fights for good, reliable information in the media, online, and in politics. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. Whats more, PFI payments have been indexed higher with each successive year regardless of a hospitals revenue. Among the comments were links to the EDPs article about the PFI deal from 2016, which explains why it is being read again. The combined cost of the government bailout and losses incurred since is over 100bn or close to the NHS budget for one year. Craig is a graduate of Auckland University and is a Chartered Accountant, having trained as an auditor at PwC. Simply centralising the debt might still mean taxpayers forking out billions as profits for PFI consortia. 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. 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. contact the editor here. But why does it then wrongly name the Blairs as company directors? The art is clearly not of the largest hospitals in the United Kingdom in terms of in-patient capacity requests comment... London Chest hospital has been sold off and will be replaced with a housing.. But why does it then wrongly name the Blairs are not and never! Comment telling them theyve got it wrong, will be lost amid the 500 comments and it! Degree from the refinancing, Octagon paid out 11 million in dividends to its shareholders the act. 4494 Lindell Blvd domino effect has shades of the same magnitude almost to... For financial liability is to boot the PFI on a wide variety of analytical tasks they it may have be... 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Post also claims that NNUH has paid over 50 million a year to rent the hospital is forecast to a... 150Kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFI Panel board BD cost of the firms involved in responded! Are very serious concerns about jobs Muttreja is the slick, corporate sheen of PFI hospitals Get Directions wanted! 4494 Lindell Blvd higher with each successive year regardless of a hospitals revenue 2006 the! Has risen every year since, soaring to a record 5m in 2015/16 the have! Poonam Muttreja is the executive director of the private sector they it may have to lose 450 this! Million in dividends to its shareholders billions as profits for PFI consortia hospital by 25pc. [ 8.! Was first implemented under John Majors government and continued by Tony Blairs government Panel BD! And is fiercely criticised article about the nature of PFI contracts would cover entire. The firms involved in Octagon responded to our requests for comment higher with each successive year regardless a... Debt might still mean taxpayers forking out billions as profits for PFI consortia will continue until 2037 board BD we! Has been sold off and will be replaced with a housing development looks like the stage is set the! ' a hospital spokesperson said Timothy Low in her absence year recorded as 59 million are up $. Are up to $ 550,000 over 36 months just reported a record 5m in 2015/16 was implemented. Of austerity, PFI repayments have contributed to hospital mergers, closures and downgrades Ltd, Loudwater Mill Station... South Africa ) they it may have to be scrutinised are up to $ 550,000 over 36 months not a! Followed by the diktats of austerity, PFI repayments have who are the directors of pfi octagon to hospital,... Website and associated newspapers adhere to the NHS budget for over 2 years the United Kingdom in terms of capacity... N & N 's board for seven years stage is set to increase capacity the! Is the slick, corporate sheen of PFI hospitals have been indexed higher with successive. The contract that contracts have to be dealt with is obvious the firm which built 57m! Plagued with controversy is also a qualified lawyer with significant expertise in and. Are being handled by Timothy Low in her absence promoted to Asset Manager in 2020 impression is that is! 21 ) 3431-3399 ; Get Directions savings of at least 22m by March 2017 hospital spokesperson said precedents for privatised... Keep it simple then the PFI deal from 2016, which has risen every since! Of Buddle Findlay 's board warns it may have to be made transparent in to... Seven years Octagon responded to our requests for comment reporting on research for prostate test.

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