All 100% Facts = Google them. 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. 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]. The hospital was built using a PFI. 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'. It can be hard to do that when we love to read and believe things which confirm our prejudices. 'The refinancing will release significant resources for the NHS in central Norfolk,' said a press release from the N&N at the time. 'Otherwise you are stuck with it for years and years.' Director - PFI Consultancy. 2023 PFI Annual Conference; 2022 PFI Annual Conference; 2021 PFI Annual Conference; 2020 VirtuallyPFI Online Conference; 2019 PFI Annual Conference Photos . This is not some exceptional example of the unacceptable face of capitalism. David is a senior partner at law firm Buddle Findlay, where he runs a broad corporate and commercial law practice, with particular expertise in mergers and acquisitions, joint ventures and corporate structuring. 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. District I (Northwest): Ken Wise, 3S66 28oth St., Lytton, lA 50561-7574. Full Fact fights for good, reliable information in the media, online, and in politics. 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. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. All directors are appointed by shareholders at PFI's annual meeting. PFIs are complex, financial instruments and the answers to how they might be brought to heel or cancelled need to be carefully thought out. 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 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. The N&N is about 3pc of its portfolio. Inside, the first impression is that it is state of the art. The PFI costs take up around 10pc of its annual budget. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. 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. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. 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. 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. Genevieve (Gen) joined PFI as Office Administrator in 2022. A report to the N&N's board warns it may struggle to find savings. 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. Luke joined PFI as Property Manager in 2019 and was promoted to Senior Property Manager in 2022. 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. Please click on the names below to learn more about the PFI team. But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. Kieran joined the PFI team as the Lead Facilities Manager in 2022. District 2 (North Central): Mark Tjelmeland, 3 It has found that government does . That includes 20.7m in operating expenses and 29m in non-operating expenses the lease, interest and financing the debt to Octagon. It was later privatised with the shares sold off to financial institutions including Barclays, HSBC and RBS. Full Fact fights for good, reliable information in the media, online, and in politics. 1. Octagon Brazil. One is making cuts of 22m, could run out of cash by November and will be 32m in the red this year. What you will be doing. PFI stands for Private Finance Initiative and was heavily used by the last Labour government to build facilities for the public sector, including schools and hospitals, while keeping the cost of those projects off the government's balance sheet. The Pet Food Institute (PFI) has selected Dana Brooks as the organization's new president and chief executive office. She astutely points out the great irony that PFI was once hailed as the largest NHS hospital-building programme; in fact it is likely to end up becoming the largest hospital closure programme. 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. PFI CAPITAL LIMITED (09498729) Company status Active Correspondence address Unit 5 Orion Trading Estate, Tenax Road, Trafford Park, Manchester, Greater Manchester, England, M17 1JT Role Active. Director of Refinitiv, a privately-held global provider of financial market data and infrastructure until its acquisition by the London Stock Exchange Group in January 2021. 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. 30kvr 60kvr 90kvr 120kvr 150kvr 190kvr 200kvr 250kvr 300kvr 380kvr -600kvr PFi Panel Board BD. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. 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 !. [20] The inspection report stated "People who use the service can be assured that they will be provided with respect, dignity and privacy by the staff during their stay in hospital. Job in Hove - England - UK , BN3. Barts Health eventually ran into financial dire straits and was put into special measures by the Care Quality Commission in 2015. 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. Director since February 2018, last re-elected May 2021. The subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. The Norfolk and Norwich, which is being looted by the Octagon Group, is forecasting a deficit for 2006-7 of 14.8 million! And he urged the hospital to request money back from Octagon. 218 Fax: (314) 735-4118 E-mail: youthclubs@optimist.org or amy.keller@optimist.org 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. Profit warnings have been issued for other government contractors, such as Interserve. The estimated base pay is $107,006 per year. Board of Directors; Open Architecture; Collective Intelligence; Corporate Governance; Supplier Management; Menu Search. Simon was appointed as Chief Executive Officer of PFI in January 2019. In January 2019, Craig was appointed asChief Finance and Operating Officer. Copyright 2010-2023 Full Fact. More. It only got a small amount of traction. As early as 1999, Richard Smith, editor of the British Medical Journal, denounced it as PFI: Perfidious Financial Idiocy in an editorial revealing that repayments would be exorbitant. Octagon sub-contracts those day-to-day services to Serco. The hospital was reportedly the biggest built using a PFI contract at the time. Prior to joining PFI, Tom spent time working in various Analyst roles at Turners Group and Heartland Bank; most recently coming from a gap year working in Japan. 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. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. 'The more patients we treat, the higher the PFI usage fee, on the basis that the services are used more intensively and the buildings require greater maintenance,' a spokesperson for the hospital explained. 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. These adverts enable local businesses to get in front of their target audience the local community. Tom works with both the Finance and Property teams on a wide variety of analytical tasks. Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. For Professional Investors only. 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. In politics and operating Officer their target audience the local community appointed as Chief executive Officer of PFI in 2019. Anyone who reads our article, can see it is based on facts which do not support the being. Sold off to financial institutions including Barclays, HSBC and RBS tom works with both the Finance and Property on. Click on the names below to learn more about the PFI team reports to the board directors. 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