UK POOL

Birmingham - 3 October 2016

1. Wide top shot of conference

2. SOUNDBITE: (English) Phillip Hammond, British Chancellor of the Exchequer: ++SOUNDBITE STARTS ON PREVIOUS SHOT++

"That result in June gave clear voice to a desire by the British people for an end to political union and a restoration of control. Control, that keyword. Control over the rules and regulations that govern their lives, control over who can live and work in their country and control over their money is spent. And I can reassure the British people of this; that message has been received loud and clear. No ifs, no buts, no second referendums, we are leaving the European Union."

3. Audience applauding

4. SOUNDBITE: (English) Phillip Hammond, British Chancellor of the Exchequer:

"But we cannot rest on our laurels. We must look to the future, to the economic challenges ahead. Let's start with the immediate challenge. The markets have calmed since the referendum vote and many of the recent data have been better than expected. That is the clearest demonstration of the underlying strength of our economy but there is no room for complacency. Many businesses which trade with the EU are uncertain about what lies ahead, they have understandable questions about the process of the negotiations, about the deal that will be done, about the changes they will have to make to adapt to the post-Brexit world and about it will all mean for their employees, their company, their business model. And I understand their concerns. Business after all hates uncertainty. But let me repeat the pledge of the Prime Minister yesterday. As we negotiate our exit from the EU and our future relationship with it, this government will fight for the best possible deal for British business and British workers, the best possible access to European markets for our manufacturing and services industries and the best possible freedoms for our entrepreneurs and our global exporters, ensuring that Britain after Brexit will remain one of the best places in the world for a business to invest, to innovate and to grow."

5. Audience applauding

6. SOUNDBITE: (English) Phillip Hammond, British Chancellor of the Exchequer:

"The independent Bank of England successfully cut business rates to restore confidence in the wake of the vote. But as the economy responds over the coming months, fiscal policy may also have a role to play. So let me be clear, throughout the negotiating process we are ready to take whatever steps are necessary to protect this economy from turbulence and when the process is over we are ready to provide support to British businesses as they adjust to life outside the EU, because Brexit does mean Brexit and we are going to make a success of it."

7. Pan of audience

8. SOUNDBITE: (English) Phillip Hammond, British Chancellor of the Exchequer:

"And in the meantime I can offer some additional certainty to British business and other organisations bidding to receive EU funding while we are still a member. I've already guaranteed the funding for projects signed prior to this year's Autumn statement. Today I can go further. The Treasury will offer a guarantee to bidders whose projects meet UK priorities and value for money criteria, that if they secure multi-year EU funding before we exit we will guarantee those payments after Britain has left the EU, protecting British jobs and businesses after Brexit."

9. Mid of British Prime Minister Theresa May applauding

10. Top shot of conference

British Chancellor Phillip Hammond told a Conservative Party conference on Monday that the government is "ready to take whatever steps are necessary to protect this economy from turbulence" during Brexit negotiations.

Hammond said the Treasury would offer a guarantee to bidders whose projects meet UK priorities and value for money criteria, "that if they secure multi-year EU funding before we exit we will guarantee those payments after Britain has left the EU."

In comments made before he addressed the Conservative Party conference, Hammond said the country would continue its austerity programme - even as it abandoned the goal of the previous government to put the country's books into surplus by the end of the decade.

The policy would allow the government the ability to borrow more to invest in the economy after the Brexit shock.

The pound has fallen 0.5 percent to 1.2859 US dollars, a day after Prime Minister Theresa May set a timetable for Britain's exit.

May's comments suggested the country was on track for a so-called "hard Brexit," in which Britain loses the possibility of continuing close ties to the bloc.

The remarks are being interpreted this way because May stressed that voters choosing to leave the European Union had clearly wanted curbs on immigration.

One of the founding principles of membership in the single market is allowing the free movement of labour.

Hammond on Monday said that as the exit from the EU was negotiated the government would "fight for the best possible deal for British business and British workers, the best possible access to European markets for our manufacturing and services industries and the best possible freedoms for our entrepreneurs and our global exporters."