The hospital estimates the deal is costing it an extra 20m a year than a non-PFI deal. 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. And he urged the hospital to request money back from Octagon. The Norfolk and Norwich was one of the first hospitals to sign PFI contracts, only to see Octagon refinance the project, increasing its borrowing from 200 million to 306 million. In fact, this PFI consists of two schemes. Coverage By Practice Area West Midlands Back to United Kingdom - Solicitors. The proposed variation to the PFI contract is to . The London Underground public-private partnership saw the bankruptcy of private company Metronet, with the Government forced to step in and bring the upgrade back into public hands. As one comes out of Whitechapel Tube station, the new Royal London hospital certainly looks impressive. Photo: Archant, Norman Lamb, North Norfolk MP. Pamela has completed a Bachelor of Commerce degree from the University of Auckland and is a Chartered Accountant. The original cost of the project was 1.1bn. The management is saying: There is only one way that this jobs massacre can be lessened. All 100%. Corporate and commercial: Birmingham These adverts enable local businesses to get in front of their target audience the local community. The chief executive and founder of Innisfree, David Metter, appeared in the Sunday Times rich list in 2013 with an estimated worth of 80m, made from investments in a number of PFI projects. These adverts enable local businesses to get in front of their target audience the local community. The Government cites too the model of Alzira in Spain where a consortium of private companies not only financed and built facilities but also delivered health services. Bad information ruins lives. The PFI team are New Zealand's industrial property experts. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. [17], The hospital was placed on black alert in November 2007 when it ran out of beds for a time. Requires an industry partner. 1. Newsquest Media Group Ltd, Loudwater Mill, Station Road, High Wycombe, Buckinghamshire. 2016: Octagon's reports record profit and pays almost 7m to shareholders through dividends. For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. I looked further to find the person who originally posted this false information. The Octagon was a suitable home for a president. search. Maybe the press and reporters should start taking more responsibility for the mess ffs. PFI Board of Directors Correspondence to tire PFI directors' addresses is always welcome. 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. It is true that a new hospital, The Norfolk and Norwich University Hospital (NNUH), was funded using a private finance initiative (PFI) and was announced by Mr Blair on 11th January 1998although the hospital trust first invited expressions of interest from private companies to build and finance the hospital as early as 1995, before Mr Blair was prime minister. Picture: Archant (Image: Archant 2018). Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. Listed on 2023-02-23. Thanks to Bytemark for donating our web hosting. Luke is responsible for property management at PFI. Golf Clients . 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. Providing technical leadership to grow the teams capability. PFI is a method of funding the upfront costs of public projects with private money, lifting the immediate financial impact off of the public and the government and replacing it with longer-term payments to the private sector. 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 there is also an aesthetic and functional brutalism with labyrinthine corridors and sunless, windowless rooms. To get that the trust had to accept liability for all of the extra 106 million that was borrowed. Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. Press Association corrects error in reporting on research for prostate cancer test. Quote Tweet. But there is another way. 'A significant proportion of the Trust's expenditure is relatively fixed through PFI costs and mandated staffing levels. 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]. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. 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. The university hospital replaced the former, Norfolk and Norwich Hospital, which was founded in 1771, and the West Norwich Hospital. Anthony is a professional director and consultant, consulting to both the private and public sector on a wide variety of property matters. HP10 9TY. Craig was appointed Chief Financial Officer and Company Secretary of PFI in 2012, and when PFI merged with DPF in 2013, was appointedChief Financial Officer and Company Secretary of the merged entity. Angela is an experienced director and executive in property investment and commercial developments. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. He said he would also be writing to Octagon. The hospital says the PFI contract means its buildings are maintained to a high standard for the lifetime of the contract and they are also refurbished regularly. Whats more, PFI payments have been indexed higher with each successive year regardless of a hospitals revenue. Norwich South MP Clive Lewis said: 'Successive governments' decisions to use PFI was like signing up for the worst credit card deal on the comparison site.' 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. 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 Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, PFI debt for the British taxpayer is more than 300bn for infrastructure projects, with a value of 54.7bn. (712) 4S8-2001. The key individuals have extensive experience in the . contact the editor here. The initial cost of 229m is paid for through Octagon. It was a persuasive argument which seduced many. The controversial Private Finance Initiative was first introduced to the public sector under the Conservative government of John Major and the contract for NNUH, one of the first PFI hospitals, was signed in 1996. Full-Time. 15 Galway Street Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. Editors' Code of Practice. 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. Director - PFI Advisory. He said: 'I think a further formal request should be made along the lines: 'You have benefitted massively from this flawed deal. [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. One man even threatened to kill the Blairs because of this untrue post. This is clearly beneficial for patients and reduces the risk of transmission of infections. Director of Thomson Reuters from 2012 until 2020. PFI is a method of funding the upfront costs of public projects with private money, lifting the immediate financial impact off of the public and the government and replacing it with longer-term payments to the private sector. You can read more about thisand find out how to report Facebook contenthere. Full Fact fights for good, reliable information in the media, online, and in politics. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. There are many precedents for renationalising privatised services when it is in the public interest. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. But why does it then wrongly name the Blairs as company directors? This is to boot the PFI robbers out of the NHS, along with the rest of the private sector. The proposed variation to the PFI contract . In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Full Fact is a registered charity (no. Photo: Stefan Rousseau/PA Wire, Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. Theragone ailesi Octagon Odun Mangaln gururla sunar!Keyifli ve lezzetli anlarn olmazsa olmaz Octagon odun mangaln hi byle grmediniz!Theragone ailesi. Apply for Director - PFI Consultancy job with Arcadis in London, Greater London, United Kingdom. However, we observed that some improvements were needed". For the purposes of that scheme, weve rated this claim as partly false One of Innisfrees flagship projects is the largest PFI hospital scheme located at Barts Health NHS Trust in East London. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. Before joining PFI, she worked with the MacArthur Foundation as Country Director where she was responsible for the Foundation's grants in India. The text on the post reads: Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998. 'The whole PFI programme was massively ill-judged,' he said. 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. This site is part of Newsquest's audited local newspaper network. If you have a complaint about the editorial content which relates to Hi byle grmediniz! theragone ailesi commercial developments corrects error in reporting on research for prostate cancer.! Mangaln gururla sunar! 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