Tony Blair and Gordon Brown saw Private Finance Initiatives as a way to deliver infrastructure projects without huge capital expenditure, The British construction and outsourcing firm announced its immediate liquidation on 15 January, HSBC was among those banks instrumental in what the RBS chairman has effectively labelled a great heist, Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, This is what Private Finance Initiatives are and how they work, The great PFI heist: How big banks took over UK plc, How to Dismantle the NHS in 10 Easy Steps, Extra 20% off selected fashion and sportswear at Very, Up to 20% off and extra perks with Booking.com Genius membership, $6 off a $50+ order with this AliExpress discount code, 15% off selected items using this eBay discount code, Compare broadband packages side by side to find the best deal for you, Compare cheap broadband deals from providers with fastest speed in your area, All you need to know about fibre broadband, Best Apple iPhone Deals in the UK February 2023, Compare iPhone contract deals and get the best offer this February, Compare the best mobile phone deals from the top networks and brands. because Tony and Cherie Blair are not directors of Octagon Healthcare. This reduces the scope of savings initiatives,' it said. Our verdict The hospital was built using a PFI. . Lead the charge on the significant opportunities around PFI handbacks. Privacy, terms and conditions. Weightmans LLP > The Legal 500 Rankings Dispute resolution > Professional discipline Tier 1 Further to its June 2022 merger with RadcliffesLeBrasseur LLP, Weightmans LLP's large It looms over the ruins of the crumbling Victorian hospital made famous in David Lynchs film The Elephant Man. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. 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. It only got a small amount of traction. Octagon has a 60-year contract with the hospital to provide it with those non-clinical services. 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 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]. c/o B2S Marketing Av. 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. If you have a complaint about the editorial content which relates to Sav joined the PFI team as Property Manager in early 2022. Prior to joining PFI, Savanna worked as a commercial property manager looking after diverse range of industrial, retail and office properties. If you wanted to keep it simple then the PFI debt would cover the entire NHS budget for over 2 years. 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. Notice Details. 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. 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. Screens provide live information about how many cases are being handled and the current status of the A&E department. She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). Since I completed my GP training in Tower Hamlets, services have disappeared at an alarming rate. Director Risk (EHSQ) Management Mar 2000 - Jan 201413 years. Associate Director of Estates new Lewisham and Greenwich NHS Trust 3.7 London SE13 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. Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. Guess who two of the Company Directors are = Tony and Cherie Blair ! Many of the comments were political with vehemently anti-Labour and anti-Blair messages. District 1 (Northwest): Ken Wise, 3566 280th St., Lytton, lA 50561-7574. The hospital was built using a PFI. A cornerstone of the cultural scene in Ames since 1966, the Octagon serves more than 30,000 people each year through art classes and outreach, rotating exhibits, a retail gallery shop, and the annual Octagon . The board currently has five directors, four of whom are independent directors and one non-executive director. Photo: Parliament TV (Image: Archant). PFI Board of Directors Correspo11de11ce to the PFI directors' addresses is always welcome. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. Editors' Code of Practice. Innisfree a fund management company in the City of London is amongst the biggest players in the PFI market. Nick joined PFI in 2018 as a Senior Analyst and was promoted to Financial Planning & Analysis Manager in 2020. Jon Wiegand Head-Power, UK Global Broking Center. 2003: The hospital 'refinances' its PFI deal with Octagon. Nick is a graduate of the University of Otago where he completed his Bachelor of Commerce majoring in Accounting, and has since gained his CPA Australia designation. Ewan joined PFI as Asset/Development Manager in 2015and was promoted to Portfolio Manager in 2020. It is one of the largest hospitals in the United Kingdom in terms of in-patient capacity. in the PFI second . All directors are appointed by shareholders at PFI's annual meeting. Please click on the names below to learn more about the PFI team. Photo: PA Wire. Director - PFI Advisory Aldwych Consulting Ltd London, England,. 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. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. The third shareholder, Semperian, has investments in infrastructure projects and PFIs from hospitals, to schools and roads. 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 NHS is on its knees. The report noted that the consortium was receiving an over 80 million pound windfall from the deal, and the National Audit Office said that the windfall was the third it had uncovered after complaints from MPs and the public. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. Listed on 2023-02-23. 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. I searched for Tony Blair and Octagon and came across lots of posts all written this month where people had copied and pasted the same false information: 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 !!! The estimated total pay for a Account Director at Octagon is $141,107 per year. A free inside look at Octagon salary trends based on 606 salaries wages for 115 jobs at Octagon. However, repayments will reach 7.1bn by 2049. Philip Green, the long-serving chairman, is named, as are Alison Horner (once head of Tesco's Asia division), Andrew Dougal and Ceri Powell. Mr Prices post has had 3,500 shares and more than 500 comments, mainly insulting the Blairs. 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. Jodie is responsible for the asset management of a portfolio of PFI's properties. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. The entire London Chest hospital has been sold off and will be replaced with a housing development. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. 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. 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. The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. The total bill for NHS PFI hospitals is ultimately projected to rise above 79bn, way in excess of original build costs of 11.4bn. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. Of course, PFI was not always a toxic brand. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. The Octagon was a suitable home for a president. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. 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. Chair of our Compensation . Nirali is currently on maternity leave until September 2023. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. 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