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Tony Blair announces that he is closing down his business empire Tony Blair announces that he is closing down his business empire
(35 minutes later)
Tony Blair has announced that he is winding down the opaque business structures that have surrounded his dealings in recent years.Tony Blair has announced that he is winding down the opaque business structures that have surrounded his dealings in recent years.
A statement on his website said the "substantial reserves" that Tony Blair Associates has accumulated will now be gifted to not-for-profit work.A statement on his website said the "substantial reserves" that Tony Blair Associates has accumulated will now be gifted to not-for-profit work.
It reads: "Tony Blair has formally announced to staff his decision to close Tony Blair Associates and wind up the Firerush and Windrush structures.It reads: "Tony Blair has formally announced to staff his decision to close Tony Blair Associates and wind up the Firerush and Windrush structures.
"He will gift the substantial financial reserves to the Not For Profit work, on which he will continue to spend the vast majority of his time."  "He will gift the substantial financial reserves to the not-for-profit work, on which he will continue to spend the vast majority of his time." 
The former Prime Minister said: "It is time to take this to a new level. The former Prime Minister said: "It is time to take this to a new level. 
"As I indicated last December at our annual all staff meeting, I want to expand our activities and bring everything under one roof."As I indicated last December at our annual all staff meeting, I want to expand our activities and bring everything under one roof.
"I also want now to concentrate the vast bulk of my time on the Not For Profit work which we do. De facto, this has been the case in the past two years but we need to reflect this change in the way we are structured." "I also want now to concentrate the vast bulk of my time on the not-for-profit work which we do. De facto, this has been the case in the past two years but we need to reflect this change in the way we are structured."
He confirmed that he would retain "a small number of personal consultancies for my income, but 80% of my time will be pro bono on the Not For Profit side." He confirmed that he would retain "a small number of personal consultancies for my income, but 80 per cent of my time will be pro bono on the not-for-profit side."