The head of the global economic forum OECD warned Britain that leaving the European Union would be tantamount to taxing its citizens - another in a growing cavalcade of cautionary advice ahead of a June 23 referendum on membership in the 28-nation bloc.

The warning by Angel Gurria, the secretary-general of the Organisation for Economic Co-operation and Development, came just days after expressions of concern by US President Barack Obama, the UK Treasury and the International Monetary Fund.

He described the notion that Britain might gain a better trade deal outside the union as somewhat fanciful.

Gurria's assessment follows that made by the UK Treasury last week, which determined that leaving the European Union would cost Britain the equivalent of 6,100 US dollars per household.

The estimate was based on an analysis of the long-term costs and benefits of EU membership and its alternatives.

The ever-more dire OECD judgment came the same day that authorities reported Britain's economy slowed in the first three months of the year amid concerns about the global economy as well as the vote on EU membership.

The UK economy grew by a quarter-on-quarter rate of 0.4 percent in January-March, down from 0.6 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday.

Services, which comprise 78 percent of the British economy, continued to grow, expanding by 0.6 percent.

But other sectors declined, including construction, mining and manufacturing.

The head of the global economic forum OECD warned Britain that leaving the European Union would be tantamount to taxing its citizens - another in a growing cavalcade of cautionary advice ahead of a June 23 referendum on membership in the 28-nation bloc.

The warning by Angel Gurria, the secretary-general of the Organisation for Economic Co-operation and Development, came just days after expressions of concern by US President Barack Obama, the UK Treasury and the International Monetary Fund.

He described the notion that Britain might gain a better trade deal outside the union as somewhat fanciful.

Gurria's assessment follows that made by the UK Treasury last week, which determined that leaving the European Union would cost Britain the equivalent of 6,100 US dollars per household.

The estimate was based on an analysis of the long-term costs and benefits of EU membership and its alternatives.

The ever-more dire OECD judgment came the same day that authorities reported Britain's economy slowed in the first three months of the year amid concerns about the global economy as well as the vote on EU membership.

The UK economy grew by a quarter-on-quarter rate of 0.4 percent in January-March, down from 0.6 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday.

Services, which comprise 78 percent of the British economy, continued to grow, expanding by 0.6 percent.

But other sectors declined, including construction, mining and manufacturing.

London - 27 April 2016

1. Wide of Angel Gurria, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) speaking on stage at the Old Theatre, London School of Economics and Political Science (LSE)

2. Man taking photos

3. Close of audience

4. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"Brexit would, rather like a tax, hit the wellbeing and the pockets of UK citizens. Unlike most taxes, however, this one will not finance the provision of public services or close the fiscal gap. The 'Brexit tax' would be a pure deadweight loss - a cost incurred with no economic benefit. And this tax would not be a one-off levy. Britons would be paying it for many years."

5. Cutaway of audience

6. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"We estimate that in a Brexit scenario, GDP per household in 2030 would be lower than the baseline, that means staying, by at least 3,200 pounds and up to 5,000 pounds in the most pessimistic case."

7. Various of audience

8. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"While no one knows precisely what the costs would be, what is striking about our estimates and those produced by the other institutions, is that all the numbers under a Brexit case are negative. The best outcome under Brexit is still worse than remaining. And the worst outcomes are very bad indeed. Very expensive. The Brexit tax just gets bigger."

9. Wide of stage

10. Cutaway of economist Professor Lord Stern listening on stage

11. SOUNDBITE (English) Angel Gurria, Secretary-General, OECD:

"Our conclusion is unequivocal. The UK is much stronger as a part of Europe and Europe is much stronger with the UK as a driving force. There is no upside for the UK in Brexit. Only costs that can be avoided and advantages to be seized by remaining in Europe. No one should have to pay the Brexit tax."

12. Close of audience

13. Wide of stage

FOR CLEAN VERSION SEE STORY NUMBER: apus058122

House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.

Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."

The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.

Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.

Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.

The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.

The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.

FOR CLEAN VERSION SEE STORY NUMBER: apus058122

House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.

Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."

The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.

Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.

Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.

The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.

The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.

Washington - 24 June 2016

1. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:

"No.Obviously, markets are going to react when new news and information like this occurs. I believe the markets will eventually stabilize. That's point number one. Point number two. All the more reason for America to lead. America needs the lead. The world wants America to lead and with tax reform plan America will clearly be leading and on so many ways by having a code, the Ways and Means committee, they had to make a decision. Stick with the current system and get it so it's in the middle of the pack with the rest of the world or do we have a plan that leapfrogs and leads the rest of the world. This is a plan that leapfrogs and leads the rest of the world. And so for all of these moments of possible uncertainty that are happening around the globe having strong, powerful, confident American economic leadership is in need and this does that."

++SOUNDBITES SEPARATED BY WHITE FLASHES++

2. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:

"Well sure. The question is about the Brexit vote. I do believe. Look. As an American we value the principle of sovereignty, self-determination, a government by consent and limited government. These are very important principles and these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles. Let me just say since you're going off the tax script, I'll go off it with you just for this moment Deirdre, England is our indispensable ally. Our friends in the United Kingdom are our indispensable ally and this is a very special relationship and that's going to continue no matter what. Period. End of story."

House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.

Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."

The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.

Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.

Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.

The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.

The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.

House Speaker Paul Ryan appeared to back the vote of Britain to leave the European Union.

Friday he highlighted the Republican values of sovereignty, self-determination, a government by consent and limited government, adding, "these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles."

The comments came as House Republicans unveiled a plan for a simpler tax code, the sixth and last installment of a GOP agenda designed to be a policy counterpoint to the personality-driven campaign of Donald Trump.

Ryan and other Republicans announced the plan at a news conference Friday morning. The proposal would lower tax rates for both families and businesses, although it falls short of the 25 percent top rate for individuals that Ryan promised not long ago.

Instead, the tax reform plan proposes a 33 percent top tax bracket instead of the current top rate of 39.6 percent restored by President Barack Obama in a 2013 victory over Republicans in the wake of his re-election.

The Ryan plan also lacks the detail required to measure whether it maintains the current distribution of the tax burden by income range.

The plan won't face a vote this year but, like other elements of Ryan's agenda, provides a template for potential action next year.

Washington - 24 June 2016

1. Speaker of the House Paul Ryan stands behind Majority Whip Steve Scalise

2. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:

"No.Obviously, markets are going to react when new news and information like this occurs. I believe the markets will eventually stabilize. That's point number one. Point number two. All the more reason for America to lead. America needs the lead. The world wants America to lead and with tax reform plan America will clearly be leading and on so many ways by having a code, the Ways and Means committee, they had to make a decision. Stick with the current system and get it so it's in the middle of the pack with the rest of the world or do we have a plan that leapfrogs and leads the rest of the world. This is a plan that leapfrogs and leads the rest of the world. And so for all of these moments of possible uncertainty that are happening around the globe having strong, powerful, confident American economic leadership is in need and this does that."

3. Ryan stands behind Scalise.

4. Cutaway of photographers

5. Wide of Ryan at podium

6. SOUNDBITE (English): Rep. Paul Ryan Speaker of the House:

"Well sure. The question is about the Brexit vote. I do believe. Look. As an American we value the principle of sovereignty, self-determination, a government by consent and limited government. These are very important principles and these principles are being expressed here at home and around the world. So we clearly understand the thinking behind these principles. Let me just say since you're going off the tax script, I'll go off it with you just for this moment Deirdre, England is our indispensable ally. Our friends in the United Kingdom are our indispensable ally and this is a very special relationship and that's going to continue no matter what. Period. End of story."

7. Ryan greeting people after event

Global shares were mostly lower on Monday amid worries about Britain's exit from the European Union and a downgrade of Italy's credit rating

It comes as British Prime Minister Theresa May is set to deliver a speech outlining her vision of Britain's post-EU future and market players are worried what she says may indicate a "hard" approach to the nation's exit.

Her office has said she will call for a "truly global Britain" that is more open to the world when she lays out plans for negotiations with the European Union.

That prospect alarms many in Britain's huge financial services sector, which relies on EU access.

Germany's vice chancellor, responding to an interview with President-elect Donald Trump, has rejected threats by Trump to put tariffs of up to 35 percent on German automakers if they set up plants in Mexico instead of the US and try to export cars to the US from there.

Trump had also claimed German automakers don't behave fairly because a lot of German cars are seen in the US, but few American cars in Germany.

Frankfurt - 16 January 2017

1. Various of Frankfurt Stock Exchange trading floor

2. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"I think BMW, VW, Daimler, as well as Audi and Porsche will in future make additional investments in America. If they create jobs they will buy out from protectionist measures and import taxes and Mr. Trump will most certainly ask for this."

3. Trader at desk

4. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"Thirty-five percent punitive taxes on German cars is a big number that hurts. We do not know whether it will be as bad as that, but what is certain is that the car industry will use appeasement strategies in order to not be affected too negatively by the big Caesar"

5. Traders at desk

6. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"Just like America, Mrs. May for Great Britain will try to blackmail us by suggesting hard Brexit. The subject will be let's cut all ties to Europe and if Europe will not back down, Great Britain will turn into a tax haven with low business taxes that will be the strategy. I hope that we will come to some sort of agreement with the British, I have always regretted that the British will leave us. We still need them"

7. Trader at desk

8. SOUNDBITE (German) Robert Halver Head of Market Research, Baader Bank:

"If we indeed had massive tax cuts for cooperation, some German businesses would surely consider to move at least the administration to Great Britain to profit from this. The Irish success their low tax politics shows that taxes are a very important element of competitiveness."

9. Various of trading floor

Germany's finance minister said on Wednesday that he didn't expect a "race to the bottom" on business taxes after Britain announced plans to cut its corporation tax rate.

Speaking at a press conference in Berlin, Wolfgang Schaeuble said Britain's move would have little influence on German policy.

British Treasury chief George Osborne said on Monday that he plans to cut UK corporation tax to below 15 percent to encourage investment and ease business concerns after voters chose to leave the European Union.

Some London-based businesses are considering leaving for other European cities to benefit from the large EU common market.

The British pound hit a new 31-year low against the US dollar on Wednesday, as worries reawakened about the economic repercussions of Britain's decision to leave the EU.

Schaeuble also stressed that it's up to Britain to decide what future relationship it wants with the EU.

Departing British Prime Minister David Cameron has left the decision to formally trigger EU exit talks to his successor, who will be elected by members of the governing Conservative Party in September.

Germany's finance minister said on Wednesday that he didn't expect a "race to the bottom" on business taxes after Britain announced plans to cut its corporation tax rate.

Speaking at a press conference in Berlin, Wolfgang Schaeuble said Britain's move would have little influence on German policy.

British Treasury chief George Osborne said on Monday that he plans to cut UK corporation tax to below 15 percent to encourage investment and ease business concerns after voters chose to leave the European Union.

Some London-based businesses are considering leaving for other European cities to benefit from the large EU common market.

The British pound hit a new 31-year low against the US dollar on Wednesday, as worries reawakened about the economic repercussions of Britain's decision to leave the EU.

Schaeuble also stressed that it's up to Britain to decide what future relationship it wants with the EU.

Departing British Prime Minister David Cameron has left the decision to formally trigger EU exit talks to his successor, who will be elected by members of the governing Conservative Party in September.

Berlin - 6 July 2016

1. Wide of German Finance Minister Wolfgang Schaeuble at press conference

2. Photographer

3. Journalist looking at press release

4. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"So now he (George Osborne) has announced (a cut in corporation tax), and we will meet next week at the ECOFIN. There we will surely hear explanations from him about that (the tax cut), at least I hope. But we have no intention in Europe of starting a race to the bottom, this makes no sense."

5. Journalist taking notes

6. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"We are not against tax competition, but we favour public budgets in all member countries being fairly and appropriately financed. That's why the British announcement has no effect on our tax policy considerations."

7. Camera

8. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"Honestly, I have to say I don't fully understand what those who conducted this campaign (to leave the European Union at the UK's referendum) imagined, because now they are all running away from what they caused in droves. That wasn't a very diplomatic comment, but one that came from the depth of my soul."

9. Wide of presser

10. SOUNDBITE (German) Wolfgang Schaeuble, German Finance Minister:

"There are other countries which also have a relationship with the European Union, and with the single market - Norway, Switzerland. But one thing is clear. Membership of the single market means of course to accept the basic freedoms of Europe (European Union). That's what Switzerland had to painfully acknowledge with a referendum, but it carried it out. And furthermore you also have to participate in the funding. If now the supporters of Brexit, who lead this campaign, meant that they had wanted Great Britain to take the status of Switzerland in its relationship with the European Union, you need to put this to those who are still around, those who lead this campaign. I cannot answer this."

11. Wide of Schaeuble shaking hand of moderator

12. Schauble leaving press conference

Opposition Labour Party leader Jeremy Corbyn said Prime Minister Theresa May's speech appeared to suggest that if a deal with the European Union didn't work Britain would move to become a low tax, "bargain basement economy on the offshores of Europe."

Corbyn said May needed to be clearer on her objectives.

In her speech May said Britain will leave the EU's single market - but will "seek greatest possible access to it" - as it exits the trade bloc.

May says her plans for Brexit cannot allow the U.K. to remain in the single market of the bloc because that would mean "not leaving the EU at all."

May said she wanted Britain to be part of a customs union agreement with the other EU states, and remove as many trade barriers as possible. She did not provide details, but said she had an "open mind" on how to do it.

Corbyn said "she seems to be wanting to have her cake and eat it."

The Labour leader said he would soon be setting out the party's idea of future relationships with Europe "but also our ideas about future trading relationships with the rest of the world."

UK POOL

London - 17 January 2017

1. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"Throughout the speech there seemed to be an implied threat that somewhere along the line if all her optimism of a deal with the European Union didn't work, we would move into a low tax, corporate taxation, bargain basement economy on the offshores of Europe, and I think she needs to be a bit clearer about what the long-term objectives are."

++BLACK++

Question off camera: (English) Will you vote for Britain to leave the single market?

2. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"We have said all along that we will not block Article 50 coming in and that's going to be very soon within Parliament. We will be putting a case for market access to Europe, we'll be putting a case for regulation of labour market and all the issues that go with that, we'll be putting a very strong case to the British people and to Parliament. This is two years away and it's quite nice that at last we've got confirmation that 27 member state parliaments will get a vote, including ours, and of course the European parliament also gets a vote on this."

Question off camera: Specifically on leaving the single market, that is something that you will now accept will happen?

3. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"She has said that leave the single market and at the same time says she wants to have access to the single market. I'm not quite sure how that's going to go down in Europe. I think we have to have a deal that ensures that we have access to the market, we have British jobs dependant on that market, that's what we'll be pushing for. Whether it's specifically this form of single market I don't know. She seems to be wanting to have her cake and eat it."

++BLACK++

4. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"Well she concedes that herself, she concedes that we depend a great deal on the people who have come to work in this country and also she makes the correct point which indeed Parliament has already voted on, that EU nationals living in Britain should be allowed to remain here just as much as British nationals of which there are probably 1.5 million living across Europe are able to continue living there. So there's going to have to be a close relationship with Europe in the future. We're going to hold them to account on all of this because I think there are enormous dangers in this and when she talks about future trade arrangements, all she said was that Donald Trump said we'd be first in the queue. First in the queue? For an investor protection type trade treaty? I don't know exactly what she has in mind in that."

++BLACK++

5. SOUNDBITE: (English) Jeremy Corbyn, Opposition Labour Party leader:

"Well be obviously responding to the statement in Parliament today, Keir Starmer (shadow Brexit Secretary) will be doing that, Emily (Thornberry, shadow Foreign Secretary) and Keir have been making the point all along that there has to be proper parliamentary scrutiny of that. We will be doing all of that and of course when the major debate comes up, which I hope will be very soon, we'll be setting out our idea of future relationships with Europe but also our ideas about future trading relationships with the rest of the world. We want to ensure that jobs and markets are protected in this country, we want to ensure that British manufacturing industry has a chance to export. She makes all these optimistic statements, every economic indicator in Britain is going in the wrong direction at the present time."

++ENDS ON SOUNDBITE++

Gina Miller needs to look no further than her own small investment firm to know that leaving the European Union would be bad for Britain.

She has an analyst who is Italian: would he need a visa? She has customers who are British retirees living in Spain: will they return home to keep access to health care and liquidate their euro investments? Her firm, SCM Direct, works closely with French bank Societe Generale: would that relationship continue?

"It could be terrible for the city,'' she said suggesting the impact could be similar to the 2008 financial crisis.

From the international banks in the skyscrapers of Canary Wharf to the traditional home of Britain's financial industry in the City of London and the hedge funds of Mayfair, bankers and money managers across the capital are watching the June 23 referendum on EU membership with trepidation. Many fear a vote to leave would undermine London's position as the world's pre-eminent financial center and damage an industry that underpins the British economy.

In case of a British exit, or Brexit, from the EU, US banking giant JPMorgan said last week that they would have to move staff to the continent to ensure it could continue to serve clients who want to invest there, Dimon said. Other global banks with customers in the rest of the EU would be in a similar situation.

Britain has been the gateway to the EU for many banks, brokerages and fund managers for decades. In addition to having a trusted legal system and institutions that operate in English, the language of international finance, London is in the right time zone to access most of the Earth during its working day and has a reputation for delivering top-notch financial services. The industry is also surrounded by an ecosystem of expertise, lawyers, accountants and consultants, to support it.

Some 60 percent of all European headquarters of non-EU firms are based in the U.K., according to TheCityUK, which lobbies on behalf of the financial industry. The UK hosts more headquarters of non-EU firms than Germany, France, Switzerland and the Netherlands put together.

London's advantages are such that people in favor of leaving the EU, such as Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown, think it will retain its luster no matter what. He poured scorn on the notion that it could be easily replicated.

"In addition to the cost of building the infrastructure for a rival to the City of London one has also got to work out whether people will want to live in another financial center,'' he said. "They certainly wouldn't want to live in Paris, although Paris is a pretty city, purely because of the tax rates and in all honesty they wouldn't want to live in Frankfurt because actually there isn't even the housing there to house them. People want to live in London.''

London's financial sector has complained about a number of EU rules, such as limits on bankers' bonuses and an attempt to impose a tax on financial transactions.

Those considerations, however, are largely trumped by concerns that leaving the EU would make access to the other 27 EU countries more difficult, many analysts say.

The principle of "passporting" currently allows any firm registered in one EU country to operate in any other member state without facing another layer of regulation. It's the same principle that allows exporters to ship their goods to any EU country free of tariffs. Losing that freedom is a particular concern for the many foreign firms who use London not only as a financial hub but as an entry point into the EU.

While the UK could probably negotiate a new arrangement for trade in goods, it would be much more complicated to hammer out a deal on services, experts believe. The situation has no precedent, no country the size of the UK has ever left such an integrated economic union, so the outcome of any talks can't be predicted.

And anything that curtails Britain's financial industry has implications for the UK economy as a whole, not just the bankers who were pilloried for taking home million-pound bonuses while they fueled the global financial crisis.

The industry's importance is even more obvious in Britain's trade figures. While the country posted an overall trade deficit of 34.4 billion pounds (50 billion US dollars) in 2014, it generated a 72 billion pound surplus from exporting financial and related services.

"Uncertainty is bad news," said Vicky Pryce, an economist and former joint head of the UK government economic service.

"It will take some time for that to settle down, it will take some time for the negotiations to take place. There is a two year period during which officials and also ministers will have to sit down and try and negotiate a deal and we just don’t know whether even over that period something will come out that will be in the slightest bit beneficial for the city so a lot of uncertainty

The City of London - the square mile roughly bounded by the walls of the original Roman city - has been the financial heart of Britain since the 17th century, when merchants meeting at local coffee houses formed Lloyd's of London and the London Stock Exchange. It has survived wars, famines and fires and would likely survive any outcome from the EU vote. The question is in what form.

Jeffrey Evans, the Lord Mayor of the City of London, whose office has promoted The City as place to do business since the Magna Carta was signed in 1215, says leaving the EU in not a risk worth taking.

Speaking in an opulent drawing room that feels more like a museum, with Dutch masters lining the walls, Evans noted that leaving the EU is "a very important matter."

"This is a decision that will affect future generations," he said.

Gina Miller needs to look no further than her own small investment firm to know that leaving the European Union would be bad for Britain.

She has an analyst who is Italian: would he need a visa? She has customers who are British retirees living in Spain: will they return home to keep access to health care and liquidate their euro investments? Her firm, SCM Direct, works closely with French bank Societe Generale: would that relationship continue?

"It could be terrible for the city,'' she said suggesting the impact could be similar to the 2008 financial crisis.

From the international banks in the skyscrapers of Canary Wharf to the traditional home of Britain's financial industry in the City of London and the hedge funds of Mayfair, bankers and money managers across the capital are watching the June 23 referendum on EU membership with trepidation. Many fear a vote to leave would undermine London's position as the world's pre-eminent financial center and damage an industry that underpins the British economy.

In case of a British exit, or Brexit, from the EU, US banking giant JPMorgan said last week that they would have to move staff to the continent to ensure it could continue to serve clients who want to invest there, Dimon said. Other global banks with customers in the rest of the EU would be in a similar situation.

Britain has been the gateway to the EU for many banks, brokerages and fund managers for decades. In addition to having a trusted legal system and institutions that operate in English, the language of international finance, London is in the right time zone to access most of the Earth during its working day and has a reputation for delivering top-notch financial services. The industry is also surrounded by an ecosystem of expertise, lawyers, accountants and consultants, to support it.

Some 60 percent of all European headquarters of non-EU firms are based in the U.K., according to TheCityUK, which lobbies on behalf of the financial industry. The UK hosts more headquarters of non-EU firms than Germany, France, Switzerland and the Netherlands put together.

London's advantages are such that people in favor of leaving the EU, such as Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown, think it will retain its luster no matter what. He poured scorn on the notion that it could be easily replicated.

"In addition to the cost of building the infrastructure for a rival to the City of London one has also got to work out whether people will want to live in another financial center,'' he said. "They certainly wouldn't want to live in Paris, although Paris is a pretty city, purely because of the tax rates and in all honesty they wouldn't want to live in Frankfurt because actually there isn't even the housing there to house them. People want to live in London.''

London's financial sector has complained about a number of EU rules, such as limits on bankers' bonuses and an attempt to impose a tax on financial transactions.

Those considerations, however, are largely trumped by concerns that leaving the EU would make access to the other 27 EU countries more difficult, many analysts say.

The principle of "passporting" currently allows any firm registered in one EU country to operate in any other member state without facing another layer of regulation. It's the same principle that allows exporters to ship their goods to any EU country free of tariffs. Losing that freedom is a particular concern for the many foreign firms who use London not only as a financial hub but as an entry point into the EU.

While the UK could probably negotiate a new arrangement for trade in goods, it would be much more complicated to hammer out a deal on services, experts believe. The situation has no precedent, no country the size of the UK has ever left such an integrated economic union, so the outcome of any talks can't be predicted.

And anything that curtails Britain's financial industry has implications for the UK economy as a whole, not just the bankers who were pilloried for taking home million-pound bonuses while they fueled the global financial crisis.

The industry's importance is even more obvious in Britain's trade figures. While the country posted an overall trade deficit of 34.4 billion pounds (50 billion US dollars) in 2014, it generated a 72 billion pound surplus from exporting financial and related services.

"Uncertainty is bad news," said Vicky Pryce, an economist and former joint head of the UK government economic service.

"It will take some time for that to settle down, it will take some time for the negotiations to take place. There is a two year period during which officials and also ministers will have to sit down and try and negotiate a deal and we just don’t know whether even over that period something will come out that will be in the slightest bit beneficial for the city so a lot of uncertainty

The City of London - the square mile roughly bounded by the walls of the original Roman city - has been the financial heart of Britain since the 17th century, when merchants meeting at local coffee houses formed Lloyd's of London and the London Stock Exchange. It has survived wars, famines and fires and would likely survive any outcome from the EU vote. The question is in what form.

Jeffrey Evans, the Lord Mayor of the City of London, whose office has promoted The City as place to do business since the Magna Carta was signed in 1215, says leaving the EU in not a risk worth taking.

Speaking in an opulent drawing room that feels more like a museum, with Dutch masters lining the walls, Evans noted that leaving the EU is "a very important matter."

"This is a decision that will affect future generations," he said.

London - 24 May 2016

1. Various aerials of Canary Wharf

London - 6 June 2016

2. Set up of Gina Miller, co-founder of wealth management company SCM Direct

3. SOUNDBITE (English) Gina Miller, co-founder of wealth management company SCM Direct:

"It could be terrible for the city because there is so much going on in the city, and we are seen as being one of the forefronts in the financial services and being a leader in that sector and if you look at all the modelling that has gone on there will definitely be a huge impact because a lot of the euro clearing happens in the UK. We have already seen that this first quarter of this year compared to last year, M and As - mergers and acquisitions - are down 39 percent, we've seen a real halt in foreign investment in the UK. If gilt markets - foreigners why would they want to buy our gilts, we could be hit in gilts we don't know what will happen with sterling. Nobody knows."

London - 24 May 2016

4. Aerial of the city

London - 22 May 2016

6. Pan of Bank of England

7. Pull focus from flowers to Bank

8. Workers and sign for Bank underground station

London - 24 May 2016

9. Set up of Jeffrey Evans, the Lord Mayor of the City of London

10. SOUNDBITE (English) Jeffrey Evans, the Lord Mayor of the City of London:

"Well, first of all it’s very important matter, it’s a, this is a decision that will affect future generations. The city of London we had, we reached a decision in March the corporation that we would take a position and that’s very strongly that we wish to remain in, it was a clear majority for that. And it’s, it’s very important the city of London is really, perhaps are most successful industry in the UK, recognises the financial, press and business services, we recogonise the importance of the EU to London and the UK."

London - 24 May 2016

11. Aerials of the city with the Shard and the Gerkhin

Bristol - 6 June 2016

12. Various of set up of Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown

13. SOUNDBITE (English) Peter Hargreaves, co-founder of brokerage firm Hargreaves Lansdown:

"In addition to the cost of building the infrastructure for a rival to the City of London one has also got to work out whether people will want to live in another financial center. They certainly wouldn't want to live in Paris, although Paris is a pretty city, purely because of the tax rates and in all honesty they wouldn't want to live in Frankfurt because actually there isn't even the housing there to house them. People want to live in London it's got the best restaurants in the world, the best sport facilities in the world, the best theatres in the world, I mean why would anyone want to live anywhere else."

FILE: London - 22 February 2016

14. Various of trading floor and traders at GKFX brokers in London

Bristol - 1 June 2016

15. Set up Vicky Pryce, economist and former joint head of the U.K. government economic service

16. SOUNDBITE (English) Vicky Pryce, economist and former joint head of the U.K. government economic service:

"It is just possible, even if there is a 'Brexit vote', the UK we get some special allowance in terms of the way in which it operates, particularly in the service sector with the rest of Europe. But it will take some time for that to settle down, it will take some time for the negotiations to take place. There is a two year period during which officials and also ministers will have to sit down and try and negotiate a deal and we just don’t know whether even over that period something will come out that will be in the slightest bit beneficial for the city so, a lot of uncertainty. Uncertainty is bad news."

London - 24 May 2016

14. Aerials of the city

LEAD IN:

Red, pink, white, sparkling wines and a variety of other alcoholic beverages are quenching the thirsts of visitors to the Hong Kong Vinexpo.

Scotch whisky makers are still buoyant about business opportunities despite worries of Brexit (British exit from the European Union) causing a possible tax hike.

STORY-LINE:

It's a wine lover's paradise.

More than 1,300 exhibitors from all over the world are showcasing a wide range of wines and spirits to people looking for something of higher class in their glass.

The Chairman of Vinexpo, Xavier de Eizaguirre, says there is a slowdown in wine consumption in Europe and China. However he says while people are drinking less volume, they are buying more expensive bottles.

"It's really a trend, in Europe the main producing countries such as France, Italy and Spain have been consuming wines for generations. Today we see a change in terms of consumption habits. People drink less than in the past, but they drink better. So obviously that has an impact on the overall amount of wines consumed, but it's a very positive impact in terms of quality and also in terms of economics, because they drink more expensive wines than before," he says.

Scotch whisky sales remain strong and have a loyal following from consumers worldwide. But there are some concerns about sales if Britain leaves the European Union.

Scottish distillery Duncan Taylor Scotch Whisky Limited, who have almost 8 decades of experience, wants the United Kingdom to stay in Europe.

The company's chairman Euan Shand is concerned about possible tax increases and export regulations if the June 23rd vote decides the UK will leave.

Europe accounts for 40 percent of the company's market sale.

"If taxes go too high, people might not buy so much Scotch whisky, but I think deep down, Europeans have got a great palate for Scotch whisky and I can't really imagine that they're going to stop drinking it," says Shand.

This year is the 300th anniversary of Italian's famous Chianti Classico appellation. As the world's largest wine producer in 2015, Italy has harvested 49.5 million hectolitres of wine last year, according to the International Organisation of Vine and Wine.

The Italian wine company Marchesi Antinori Srl which started making wine in 1385 has its wine farms in the Chianti region, making its signature Chianti Classico wines.

The company is now expanding into in Asia, concentrating on China.

The Vice President of Marchesi Antinori SPA, Albiera Antinori says: "Our major market is still Italy, with 35 percent (sales) followed by North America, then the rest of Europe. For us, at the moment, Asia (market) is still very small, it's about 6 percent of our production. I think China will need a little bit of time to get to know Italian wines, so we just need to come here more and have the wines tasted."

The Hong Kong Vinexpo runs 24-26 May 2016

LEAD IN:

Red, pink, white, sparkling wines and a variety of other alcoholic beverages are quenching the thirsts of visitors to the Hong Kong Vinexpo.

Scotch whisky makers are still buoyant about business opportunities despite worries of Brexit (British exit from the European Union) causing a possible tax hike.

STORY-LINE:

It's a wine lover's paradise.

More than 1,300 exhibitors from all over the world are showcasing a wide range of wines and spirits to people looking for something of higher class in their glass.

The Chairman of Vinexpo, Xavier de Eizaguirre, says there is a slowdown in wine consumption in Europe and China. However he says while people are drinking less volume, they are buying more expensive bottles.

"It's really a trend, in Europe the main producing countries such as France, Italy and Spain have been consuming wines for generations. Today we see a change in terms of consumption habits. People drink less than in the past, but they drink better. So obviously that has an impact on the overall amount of wines consumed, but it's a very positive impact in terms of quality and also in terms of economics, because they drink more expensive wines than before," he says.

Scotch whisky sales remain strong and have a loyal following from consumers worldwide. But there are some concerns about sales if Britain leaves the European Union.

Scottish distillery Duncan Taylor Scotch Whisky Limited, who have almost 8 decades of experience, wants the United Kingdom to stay in Europe.

The company's chairman Euan Shand is concerned about possible tax increases and export regulations if the June 23rd vote decides the UK will leave.

Europe accounts for 40 percent of the company's market sale.

"If taxes go too high, people might not buy so much Scotch whisky, but I think deep down, Europeans have got a great palate for Scotch whisky and I can't really imagine that they're going to stop drinking it," says Shand.

This year is the 300th anniversary of Italian's famous Chianti Classico appellation. As the world's largest wine producer in 2015, Italy has harvested 49.5 million hectolitres of wine last year, according to the International Organisation of Vine and Wine.

The Italian wine company Marchesi Antinori Srl which started making wine in 1385 has its wine farms in the Chianti region, making its signature Chianti Classico wines.

The company is now expanding into in Asia, concentrating on China.

The Vice President of Marchesi Antinori SPA, Albiera Antinori says: "Our major market is still Italy, with 35 percent (sales) followed by North America, then the rest of Europe. For us, at the moment, Asia (market) is still very small, it's about 6 percent of our production. I think China will need a little bit of time to get to know Italian wines, so we just need to come here more and have the wines tasted."

The Hong Kong Vinexpo runs 24-26 May 2016

Hong Kong, 24 May 2016

1. Close of glass of different wines

2. Tilt up of rose wines (Price: US $13.4 per bottle)

3. Mid of rose wine with gold (Price: US $200 per bottle)

4. Close of bottles of wines with gold

5. Pan to right of various Italian wines

6. Mid of woman next to wine bottles in different sizes

7. Mid of visitors and wines on shelf

8. Wide of Xavier de Eizaguirre, Chairman of Vinexpo shaking and smelling wine

9. Close of Xavier de Eizaguirre, Chairman of Vinexpo tasting wine

10. SOUNDBITE (English) Xavier de Eizaguirre, Chairman of Vinexpo:

"It's really a trend, in Europe the main producing countries such as France, Italy and Spain have been consuming wines for generations. Today we see a change in terms of consumption habits. People drink less than in the past, but they drink better. So obviously that has an impact on the overall amount of wines consumed, but it's a very positive impact in terms of quality and also in terms of economics, because they drink more expensive wines than before."

11. Mid of man smelling a glass of white wine

12. Mid of Echezeaux Grand Cru wine (Left) in limited production of 2,400 bottles only (Price: US $558 per bottle) and Corton Grand Cru wine (Right) in limited production of 2,000 bottles only (Price: US$558 per bottle)

13. Wide of Meursault-Genevrieres Premier Cru wine in limited production of 900 bottles only (Price: US$1339)

14. Pan to left from Slovakian wine booth to Scotch whisky booth

15. Mid of visitors in a Scotch whisky booth

16. Tilt up of Euan Shand holding a glass of Scotch whisky

17. Close of a glass of Scotch whisky

18. SOUNDBITE (English) Euan Shand, Chairman of Duncan Taylor Scotch Whisky Limited:

"I could imagine that, Scotch whisky is sold in over 200 countries worldwide. I don't think if there's split up between Britain and Europe that people would stop drinking Scotch whisky. I think there's relationships formed over hundreds and hundreds of years, so I cannot imagine it is going to make a huge dent to Scotch whisky, but it depends on taxation. It's a fickle world out there and if taxes go too high, people might not buy so much Scotch whisky, but I think deep down, Europeans have got a great palate for Scotch whisky and I can't really imagine that they're going to stop drinking it."

19. Close of two bottles of Scotch whisky (US$78 per bottle)

20. Close of a bottle of Scotch whisky made in 1975 (US$1751)

21. Pan to right of Italian wine booths

22. Close of Italian wines

23. Wide of an Italian wine booth

24. Mid of Albiera Antinori, Vice President of Marchesi Antinori SPA pouring wine into glass

25. Close of Albiera Antinori, Vice President of Marchesi Antinori SPA tasting wine

26. SOUNDBITE (English) Albiera Antinori, Vice President of Marchesi Antinori SPA:

"Our major market is still Italy, with 35 percent (sales) followed by North America, then the rest of Europe. For us, at the moment, Asia (market) is still very small, it's about 6 percent of our production. I think China will need a little bit of time to get to know Italian wines, so we just need to come here more and have the wines tasted."

27. Wine of various Italian wines

28. Close of Castel Del Monte Aglianico wine (Left) and Primitivo Salento wine (Right)

29. Mid of visitors

30. Tilt down from chandelier to wines on shelf

31. Mid of two men tasting wine

32. Mid of a wine tasting event

33. Close of man tasting wine

34. Shift focus of wine glasses

35. Wide of visitors

British Prime Minister Boris Johnson said the UK will offer the European Union a proposed Brexit deal on Wednesday that represents a compromise for both sides, as he urged the bloc to meet Britain halfway and allow for the country's orderly departure after years of wrangling.

Johnson's speech to Conservative Party members at their annual conference had been billed by his office as a take-it-or-leave-it "final offer" to the EU.

Yet as delivered, it was more like a plea to the bloc, and to Britons, to end more than three years of acrimonious wrangling over the terms of the UK's exit from the EU.

"Let's get Brexit done," was the repeated refrain to delegates at the conference in Manchester, northwest England.

Johnson, who has had a tumultuous 70 days in office, delivered a speech that was almost Boris-by numbers, peppered with puns, grand claims about Britain's greatness and jokes at the expense of his opponents - chiefly left-wing Labour Party leader Jeremy Corbyn, whom he said would "foul up the economy".

It was also, pointedly, a pre-election speech, with a grab-bag of promises: more money for hospitals and police, unspecified tax cuts, greener buses and faster internet access.

UK POOL

Manchester - 2 October 2019

1. SOUNDBITE (English) Boris Johnson, British Prime Minister: ++STARTS ON WIDE OF JOHNSON ON STAGE, PARTLY OVERLAID WITH VARIOUS OF AUDIENCE++

"A country that leads the way with clean green technology in reducing the greenhouse gases that cause climate change. A country that is happy and confident about its future, that is the vision for the country we love. And when the opposition finally screw their courage to the sticking point and agree to have an election, when the chlorinated chickens finally waddle from the hen coop where they are hiding, that is the vision for the country that we will put to the British people. And the choice is clear. We put up wages with the biggest expansion of a living wage for a generation. (UK opposition leader, Jeremy) Corbyn would put up taxes for everyone. We back our superb armed forces around the world and look after our veterans. Corbyn has said he wants the armed forces disbanded. We want an Australian-style points-based system for immigration, Corbyn has said he doesn't even believe in immigration controls. If Jeremy Corbyn were allowed into Downing Street he would whack up your taxes, he would foul up the economy, he would rip up the alliance between Britain and the United States and he would break up the United Kingdom. We cannot allow it to happen."

2. Various of audience applauding

3. SOUNDBITE (English) Boris Johnson, British Prime Minister:

"But it is worse than that because it's become absolutely clear that he's now determined to frustrate Brexit. What do we want and need? Do we want more dither and delay? Do we want to spend another billion pounds a month on EU membership when that could be going on the NHS? No. Let's get Brexit done. Let's finally believe in ourselves and what we can do. This country has long been a pioneer. We inaugurated the steam age here in Manchester, we inaugurated the atomic age, the age of the genome, we led the way in parliamentary democracy, in female emancipation. And when the whole world had succumbed to a different economic fashion, this country and this party under a female prime minister pioneered ideas of free markets and privatization that spread across the planet."

4. Mid of leader of the House of Commons Jacob Rees-Mogg applauding

5. SOUNDBITE (English) Boris Johnson, British Prime Minister: ++STARTS ON WIDE OF JOHNSON ON STAGE, PARTLY OVERLAID WITH MID OF AUDIENCE APPLAUDING++

"Every one of those ideas, every one of those ideas was controversial, every one of them was difficult. But we always had the courage as a country to be original, to do things differently. And now we are about to take another giant step to do something no one thought we could do to reboot our politics, to relaunch ourselves into the world, and to dedicate ourselves again to the simple proposition that we are here to serve the democratic will of the British people. If we do that with optimism and confidence then we all tell you we will not go wrong. So let's get on with sensible, moderate one-nation but tax-cutting Conservative government and figuratively if not literally, let us send Jeremy Corbyn into orbit where he belongs. Conference, let's get Brexit done and let's bring this country together. Thank you very much."

6. Various of Johnson walking off stage and greeting colleagues

7. Johnson greeting his partner Carrie Symonds and his father Stanley Johnson

8. Various of Johnson and Symonds leaving

UK Prime Minister Boris Johnson, Labour Party leader Jeremy Corbyn and Liberal Democrat leader Jo Swinson addressed a conference of employers' group the Confederation of British Industry (CBI) on Monday.

Johnson promised to cut a tax paid by businesses with bricks-and-mortar premises but announced a proposal to postpone a planned reduction in corporation tax, which had been due to fall from 19 percent to 17 percent next year.

He said putting the cut on hold was the fiscally responsible thing to do and would allow more investment in the National Health Service (NHS).

Corbyn meanwhile said a Labour government would increase corporation tax to no higher than the 2010 levels.

"I think our economy needs that and it is a necessary thing to do," he added.

Swinson, whose party currently holds just 20 of the 650 House of Commons seats, pledged that the Liberal Democrat "would scrap business rates and replace them with a commercial landowner levy."

She said this would help small businesses as this would shift the burden from tenants to the landowner.

Businesses, meanwhile, are wary of all sides.

John Allan, Tesco's chairman and CBI President said "no party has the answers" for Brexit, urging politicians to "have an honest conversation" as negotiations with the EU would continue for years to come.

UK POOL

London - 18 November 2019

1. Various of UK Prime Minister Boris Johnson arriving on stage

2. SOUNDBITE (English) Boris Johnson, UK Prime Minister:

"The NHS (National Health Service) is the nation's priority, and our priority because we believe emphatically in fiscal prudence. I hope you won't mind if I also announce today that we are postponing further cuts in corporation tax. And before you storm the stage and protest. Before you storm the stage, let me remind you how this saves six billion pounds that we can put into the priorities of the British people, including the NHS. We've already cut it from 28 to 19 percent."

3. Various of UK Labour Leader Jeremy Corbyn arriving on stage

4. SOUNDBITE (English) Jeremy Corbyn, UK Labour Leader:

"Yes, taxation is going to change under Labour. We've made no secret of that. We've made that very, very clear that the richest 5 percent, the top 5 percent will pay more and that over a lifetime of the government we will increase corporation tax to no higher than the 2010 levels. I think our economy needs that and it is a necessary thing to do. We cannot go on being the economy that invests least and a country that becomes unequal more. We cannot go on being an economy that wastes the skill levels and opportunities of so many young people by inadequate funding of nursery education, primary education, secondary education or training, as well as the high cost of universities."

5. Various of UK Liberal Democrat leader Jo Swinson going on stage

5. SOUNDBITE (English) Jo Swinson, UK Liberal Democrat leader:

"Liberal Democrats are committed to helping small businesses who are the engine of our economy. That's why Liberal Democrats would scrap business rates and replace them with a commercial landowner levy. It will shift the burden from the tenant to the landlord so that we can breathe new life into our high streets. Frankly, we have seen enough promises of reviews of business rates from the Conservatives. It is time for clear action that will give proper help to our small businesses."

7. Audience applauding

8. SOUNDBITE (English) John Allan, Tesco chairman and Confederation of British Industry President:

"But currently no party has the answers. It's not as simple as 'getting Brexit done' or 'sorting Brexit in six months' or even 'stopping Brexit'. Whatever happens in this election, we'll be negotiating with the EU for years to come. Whether as a close friend or a distant neighbour. So we need to have an honest conversation."

9. Allan leaving the stage

US Treasury Secretary Steve Mnuchin Monday said he was looking forward to continuing talks with Chinese government officials over stalled trade negotiations.

He said talks in the middle of September would include delegates from the Chinese vice ministerial level  and that the Chinese Vice Premier Liu He was coming to the U.S. early next month.

"We're looking forward to a lot of work being done in time for when (US Trade Representative Robert) Ambassador Lighthizer and myself meet with the Vice Premier. "

China's trade with the United States is falling as the two sides prepare for negotiations with no signs of progress toward ending a tariff war that threatens global economic growth.

Imports of American goods tumbled 22% in August from a year earlier to $10.3 billion, customs data showed Sunday. Exports to the United States, China's biggest market, sank 16% to $44.4 billion.

Despite the planned October talks, the two governments escalated their fight on Sept. 1, imposing or increasing penalties on billions of dollars of goods. President Donald Trump plans another increase Oct. 15.

Praising the strength of the U.S. economy, Mnuchin also said talks were continuing with the French over a digital tax and pushed for Congress to take up the USMCA trade agreement.

He also said he was in touch with the British Government over the Brexit situation.

"Whoever thinks we have political issues (in the U.S.), they're dealing with their own political issues at the moment."

Washington - 9 September 2019

1. Pan, US Treasury Secretary Steven Mnuchin walks to microphones

2. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"I think there's no question the U.S. economy is in very good shape. As we look around the world, there's no question that China is slowing, Europe is slowing. The US is the bright spot of the world and in regards to a middle class tax cut, you know, we'll be looking at tax cuts 2.0. It's something that'll be something we'll consider next year. But right now the economy is in very, very good shape."

3. Pan, reporters to Mnuchin

4. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"But, I will say we are looking forward to a (Chinese) vice minister level (meeting) here this month. We're also looking forward to the Vice Premier coming early next month. So we're looking forward to a lot of work being done in time for when (US Trade Representative Robert) Ambassador Lighthizer and myself meet with the Vice Premier. They are in the middle of the month.

(Reporter: Can you tell us how the talks are going with the French taxes and whether in the wine tariffs they're still on the table?)

Sure. So, what we agreed to at the G-7 with the French is that we would spend 90 days trying to work to see if the U.S. and France could reach an understanding, a conceptual understanding on an international agreement. And I think that's the first step to us both promoting an international agreement and that's what we're working on. They're complicated issues. We're meeting with lots of companies. We actually have a bunch of the digital companies coming in this week to Treasury. We have multinationals coming in next week. So we're gonna make sure that business supports whatever we do."

5. Pan from reporters to Mnuchin

SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"I think we're operating under the belief that it will (USMCA) get to the floor and I know we're we're pleased that Congress is back. Ambassador Lighthizer has been working very closely with the House. I've spoken to Speaker Pelosi several times about this as has the Ambassador and we're hopeful that now that Congress is back they'll focus on it. And if there are a few small changes that he needs to work with Congress, I know he is talking to them but this is a very important deal to the U.S. economy, U.S. workers, agriculture, digital. It's an encompassing deal and something that I think is very important. So I look forward to being .. having it be passed."

6. Cutaway reporters

7. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"Well, I specifically stopped in London on the way back from the G-7 to meet with my new counterpart the Finance Minister (Sajid) Javid. You know, I would say it is. I met with them before all the changes have gone on. But I have been in direct contact with him several times and they're dealing with their own political issues. So whoever thinks we have political issues, they're dealing with their own political issues at the moment."

8. Wide

9. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"I expect the governor of the People's Bank of China to come over for these talks. So part of the conversations we will be having with them is around currency and currency manipulation, but that's never come up. (Chinese dumping of US financial bonds.) Thank you everybody."

10. Pan, Mnuchin walks away

US Treasury Secretary Steve Mnuchin Monday said he was looking forward to continuing talks with Chinese government officials over stalled trade negotiations.

He said talks in the middle of September would include delegates from the Chinese vice ministerial level  and that the Chinese Vice Premier Liu He was coming to the U.S. early next month.

"We're looking forward to a lot of work being done in time for when (US Trade Representative Robert) Ambassador Lighthizer and myself meet with the Vice Premier. "

China's trade with the United States is falling as the two sides prepare for negotiations with no signs of progress toward ending a tariff war that threatens global economic growth.

Imports of American goods tumbled 22% in August from a year earlier to $10.3 billion, customs data showed Sunday. Exports to the United States, China's biggest market, sank 16% to $44.4 billion.

Despite the planned October talks, the two governments escalated their fight on Sept. 1, imposing or increasing penalties on billions of dollars of goods. President Donald Trump plans another increase Oct. 15.

Praising the strength of the U.S. economy, Mnuchin also said talks were continuing with the French over a digital tax and pushed for Congress to take up the USMCA trade agreement.

He also said he was in touch with the British Government over the Brexit situation.

"Whoever thinks we have political issues (in the U.S.), they're dealing with their own political issues at the moment."

Washington - 9 September 2019

1. Pan, US Treasury Secretary Steven Mnuchin walks to microphones

2. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"I think there's no question the U.S. economy is in very good shape. As we look around the world, there's no question that China is slowing, Europe is slowing. The US is the bright spot of the world and in regards to a middle class tax cut, you know, we'll be looking at tax cuts 2.0. It's something that'll be something we'll consider next year. But right now the economy is in very, very good shape."

3. Pan, reporters to Mnuchin

4. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"But, I will say we are looking forward to a (Chinese) vice minister level (meeting) here this month. We're also looking forward to the Vice Premier coming early next month. So we're looking forward to a lot of work being done in time for when (US Trade Representative Robert) Ambassador Lighthizer and myself meet with the Vice Premier. They are in the middle of the month.

(Reporter: Can you tell us how the talks are going with the French taxes and whether in the wine tariffs they're still on the table?)

Sure. So, what we agreed to at the G-7 with the French is that we would spend 90 days trying to work to see if the U.S. and France could reach an understanding, a conceptual understanding on an international agreement. And I think that's the first step to us both promoting an international agreement and that's what we're working on. They're complicated issues. We're meeting with lots of companies. We actually have a bunch of the digital companies coming in this week to Treasury. We have multinationals coming in next week. So we're gonna make sure that business supports whatever we do."

5. Pan from reporters to Mnuchin

SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"I think we're operating under the belief that it will (USMCA) get to the floor and I know we're we're pleased that Congress is back. Ambassador Lighthizer has been working very closely with the House. I've spoken to Speaker Pelosi several times about this as has the Ambassador and we're hopeful that now that Congress is back they'll focus on it. And if there are a few small changes that he needs to work with Congress, I know he is talking to them but this is a very important deal to the U.S. economy, U.S. workers, agriculture, digital. It's an encompassing deal and something that I think is very important. So I look forward to being .. having it be passed."

6. Cutaway reporters

7. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"Well, I specifically stopped in London on the way back from the G-7 to meet with my new counterpart the Finance Minister (Sajid) Javid. You know, I would say it is. I met with them before all the changes have gone on. But I have been in direct contact with him several times and they're dealing with their own political issues. So whoever thinks we have political issues, they're dealing with their own political issues at the moment."

8. Wide

9. SOUNDBITE (English) Steven Mnuchin, U.S. Treasury Secretary:

"I expect the governor of the People's Bank of China to come over for these talks. So part of the conversations we will be having with them is around currency and currency manipulation, but that's never come up. (Chinese dumping of US financial bonds.) Thank you everybody."

10. Pan, Mnuchin walks away

RESTRICTION SUMMARY: AP CLIENTS ONLY

SHOTLIST:

UK POOL - AP CLIENTS ONLY

Bradford - 16 May 2017

1.Various of Labour party leader Jeremy Corbyn on stage, holding up manifesto to crowd

2. SOUNDBITE (English) Jeremy Corbyn, Leader of Britain's opposition Labour party:

"This manifesto is a draft for a better future for our country. It's a blueprint of what Britain could be and a pledge of the difference a Labour government can and will make."

3. People applauding

4. SOUNDBITE (English) Jeremy Corbyn, Leader of Britain's opposition Labour party:

"We're ruling out rises in VAT (Value-Added Tax) and National Insurance, and on income tax for all but five percent of the highest earners. Labour will boost the wages of 5.7 (m) million people earning less than the living wage to 10 (UK) pounds (13 US dollars) an hour by 2020."

5. People applauding

6. SOUNDBITE (English) Jeremy Corbyn, Leader of Britain's opposition Labour party:

"The Tories (the Conservative party) now want to scare us into accepting more of the same. Only Labour has a plan ambitious enough to unleash this country's potential. And only Labour has the plan to make Brexit work for ordinary people. We're clear there is now a choice - a Labour Brexit that puts jobs first, or a Tory Brexit that will be geared towards the interests of the City of London and risk making Britain a low-wage tax haven."

7. People applauding

8. SOUNDBITE (English) Jeremy Corbyn, Leader of Britain's opposition Labour party:

"As we leave the EU, because that is what the people have voted for, only Labour will negotiate a deal that preserves jobs, access to the single market and preserves rights and access, not plunge our country into a race to the bottom."

9. Wide of people applauding

10. SOUNDBITE (English) Jeremy Corbyn, Leader of Britain's opposition Labour party:

"A government that invests for all. A government with a vision to ensure that the brilliance and imagination of every child can be fulfilled during their lifetime. Our proposal is a government for the many, not the few. Our proposals are of hope for the many all over this country, and I am very proud to present this manifesto for the many, not the few. Thank you very much!"

11. Various of Corbyn showing manifesto to crowd, people applauding

12. SOUNDBITE (English) Jeremy Corbyn, Leader of Britain's opposition Labour party:

"The free movement that currently exists within the European Union, obviously by the time we leave the European Union, that free movement doesn't continue. We will negotiate a trade agreement with the European Union that will ensure tariff-free access to the European Union, and future migration will be based on a fair migration policy, fairness towards our economy and our needs of people, and an end to the undercutting and exploitation that goes with it."

13. People applauding

STORYLINE:

Britain's main opposition leader launched his party's manifesto on Tuesday, saying he would reinvigorate the economy and protect the country's access to the European Union's single market after it leaves the bloc.

Labour party leader Jeremy Corbyn was speaking in Bradford, promising to make Brexit "work for ordinary people".

"We're clear there is now a choice - a Labour Brexit that puts jobs first, or a Tory Brexit that will be geared towards the interests of the City of London and risks making Britain a low-wage tax haven," he said.

Answering questions after his speech, Corbyn stated that freedom of movement in the UK for EU citizens would end after Brexit, saying his party would establish a "fair migration policy".

British voters go to the polls on June 8, in a snap general election called by Prime Minister Theresa May.

===========================================================

Clients are reminded:

(i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com

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RESTRICTION SUMMARY: AP CLIENTS ONLY

SHOTLIST:

UK POOL - AP CLIENTS ONLY

Aviemore - 24 April 2017

1. UK's Labour Party leader Jeremy Corbyn approaching podium

2. SOUNDBITE (English) Jeremy Corbyn, Labour Party leader:

"We are standing for the many, not the few. And it is through our collective power in a trade union that we ensure the many standing together have the power to stand up to the rich and the powerful few."

++BLACK FRAMES++

3. SOUNDBITE (English) Jeremy Corbyn, Labour Party leader:

"The Scottish people are facing a crucial choice in this election: the Tories are trying to use Brexit to turn Britain into a low wage tax haven run in the interest of the powerful; Labour will negotiate a Brexit that will build on the gains won for workers, consumers and the environment in the European Union. We will put jobs, living standards and human rights first."

++BLACK FRAMES++

4. SOUNDBITE (English) Jeremy Corbyn, Labour Party leader:

"I've been in the trade unions all my life and I will die a trade unionist because that is what I believe in. That is why one of the very first things we will do when forming our Labour government will be to repeal the Tory Trade Union Act."

++BLACK FRAMES++

5. SOUNDBITE (English) Jeremy Corbyn, Labour Party leader:

"This is a general election, it is not a referendum and only Labour can form a government and offer an alternative that will transform the lives of people in Scotland. The truth is that the Tories and the SNP are obsessed with their power struggles against Brussels and Westminster when the energy should be used to change and transform our economy to ensure that no one and no community is left behind."

++BLACK FRAMES++

6. SOUNDBITE (English) Jeremy Corbyn, Labour Party leader:

"We will also introduce four new public holidays, giving people the time to lead better and more fulfilling lives, actually helping productivity at the same time, and we will ask for the support of the governments of Wales, Scotland and Northern Ireland so the same four holidays can be enjoyed across of whole of the United Kingdom."

++BLACK FRAMES++

7. SOUNDBITE (English) Jeremy Corbyn, Labour Party leader:

"We will create a Scottish National Bank under Scottish control and backed by the National Investment Bank with 20 billion pounds of lending power to deliver the funds to local projects and small businesses, creating work and stimulating the economy. We will aggressively take on the tax avoiders and evaders, starting with making corporations publish the entirety of their tax returns. We will ban zero hours contracts giving new protections to 60-thousand workers guaranteed with no hours at the moment. How can people possibly plan their lives, pay their rent if they have no security of income? Is it right that so many people wake up in the morning, the first thing they do is reach for their phone to check if any texts have come in, not the nice texts we receive from friends, from family or people wishing us well and so on, but to find out if they've got any work that day or not? It is not a right or a fair way of treating people. We will end zero hours contracts, once and for all."

8. Corbyn waving to crowd at the end of speech

STORYLINE:

UK's Labour Party leader Jeremy Corbyn addressed a trade union conference in Scotland on Monday as part of his opposition party's campaign in the upcoming general election.

In his speech, the opposition leader called the June vote a choice between the powerful and the people and vowed that his party will take care of the interests of all the people of Great Britain.

Corbyn vowed that his part "will negotiate a Brexit that will build on the gains won for workers, consumers and the environment in the European Union" as opposed to the Conservatives that he said "are trying to use Brexit to turn Britain into a low wage tax haven run in the interest of the powerful".

He also used his speech in Aviemore to list some of Labour's campaign pledges such as the revoking of the Trade Union Act, ending zero hours contracts and the introduction of four new public holidays.

===========================================================

Clients are reminded:

(i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com

(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service

(iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory.

RESTRICTION SUMMARY: AP CLIENTS ONLY

SHOTLIST:

++CLIENTS NOTE: PLEASE IGNORE EDIT SENT EARLIER AND REPLACE WITH THIS ONE WHICH ADDS MISSING FRAMES AT THE BEGINNING++

UK POOL - AP CLIENTS ONLY

London - 20 April 2017

1. SOUNDBITE: (English) Jeremy Corbyn, Labour leader:

"We are 47 hours into the election campaign. The dividing lines in this election could not be clearer from the outset. It's the Conservatives, the party of privilege and the richest, versus the Labour Party. The Labour Party that's standing up for working people, to improve the lives of all. It's the establishment versus the people. It's our historic duty to make sure the people prevail."

++BLACK FRAMES++

2. SOUNDBITE: (English) Jeremy Corbyn, Labour leader:

"Much of the media and the establishment are saying this election is a foregone conclusion. They think there are rules in politics which, if you don't follow by doffing your cap to the powerful people, accepting that things can't really change, then you can't win. But of course, they do not want us to win, because when we win it is the people, not the powerful, who win."

++BLACK FRAMES++

3. SOUNDBITE: (English) Jeremy Corbyn, Labour leader:

"That is why we, yes we, will prove the establishment experts wrong and change the direction of this election. Because the British people know that they are the true wealth creators, held back by a system rigged for the wealth extractors. Theresa May will insist that this is an election about Brexit. She will try to downplay the issues that affect people's lives every day and instead turn the election into an ego-trip about her own failing leadership and the machinations of the coming negotiations in Brussels. It is only Labour that will focus on what kind of country we want to have after Brexit. In the coming weeks, Labour will lay out our policies to unlock opportunities for every single person in this country."

++BLACK FRAMES++

4. SOUNDBITE: (English) Jeremy Corbyn, Labour leader:

"The European Union negotiations are going on and we've set out our lines on negotiations. Primarily, it is about gaining and retaining tariff-free access to the European Market. We haven't threatened to turn Britain into an off-shore tax haven on the shores of Europe to undermine every European economy. We've said instead we want to work with them to have an agreed process by which we continue to trade with Europe. Because walking away and trading under World Trade Organisation conditions will mean that manufacturing industry in this country will be severely damaged. Every manufacturing enterprise in this country relies on imported materials from Europe or sales to Europe, and in some cases in complicated productions, the parts cross the channel several times as they're being fabricated, in the aircraft industry and others. It is an integrated and complicated production process. The idea that you can simply approach these negotiations by threatening to set up a tax haven and 'hell take the hindmost' to the rest of the people is simply not a sensible way of negotiating."

5. Corbyn leaving, supporters standing up to clap

STORYLINE:

Facing steep odds and low popularity ratings, Britain's main opposition leader launched his election campaign on Thursday, painting himself as a populist outsider who will overturn a "rigged" political and economic system.

Labour Party chief Jeremy Corbyn said the June 8 election pitted "the establishment vs. the people" and insisted the result is not a foregone conclusion.

Labour trails a long way behind Prime Minister Theresa May's Conservatives in opinion polls, and many within the party believe 67-year-old socialist Corbyn is too left-wing to connect with voters.

In his first major speech of the campaign, Corbyn told supporters and journalists in London that May will make the election about Brexit and her "failing leadership", whereas the Labour Party will use the opportunity to "unlock opportunities for every single person in this country".

Addressing Brexit negotiations, Corbyn emphasised that the Labour Party's objective is not to create an "off-shore tax haven" out of Britain, but instead to work with European countries in order to arrive at a mutually beneficial trade agreement.

===========================================================

Clients are reminded:

(i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com

(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service

(iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory.

+UPDATED EDIT AND SCRIPT+

FRA BEAUJOLAIS

SOURCE: ASSOCIATED PRESS

RESTRICTIONS: AP Clients Only

LENGTH: 7:56

SHOTLIST:

ASSOCIATED PRESS - AP CLIENTS ONLY

Paris, France - 21 November 2019

1. Various shots of Bernard Roques-Bouges, owner of 'Au Petit Chavignol' brasserie pouring Beaujolais Nouveau wine from cask into glass and testing it

2. Close up Beaujolais Nouveau in glasses

ASSOCIATED PRESS - AP CLIENTS ONLY

Saint-Jean-d'Ardieres, France - 12 November 2019

3. Close of 2019 Beaujolais Nouveau bottles on conveyor belt inside wine producer warehouse

4. Wide of bottling production line

5. Tracking shot of bottle along conveyor belt and General Director of Vinescence wine production company, Jean-Paul Civeyrac, walking towards labelling machine

6. Various of machine sticking labels on bottles

7. Mid of Civeyrac holding up bottle, UPSOUND (French) "So it's 2019 Beaujolais Nouveau, then you have the batch name and this indication that the wine comes from an environment-friendly farm."

8. Wide of line of bottles down conveyor belt and employees packing them in cardboard boxes

9. Mid of bottles down conveyor belt with fresh label reading 'Nouveau'

10. SOUNDBITE (French) Jean-Paul Civeyrac, General Director of Vinescence wine production company:

"The market for Beaujolais Nouveau like the one you see here is a global market – the first market in the world being Japan. The French market is also very important but you'll find some around the world, from the United States to Northern Europe. Eastern Europe countries also drink a lot (of Beaujolais Nouveau)."

11. Pan of bottle with fresh label reading 'Beaujolais'

12. Mid of box packed with 2019 Beaujolais Nouveau bottles down conveyor belt to stationing area

ASSOCIATED PRESS - AP CLIENTS ONLY

Romaneche-Thorins, France - 12 November 2019

13. Mid of Georges Duboeuf logo on side of warehouse of largest Beaujolais Nouveau producer

14. Tracking shot of Duboeuf President Franck Duboeuf walking across warehouse to last stacks of Beaujolais Nouveau yet to be shipped to clients

15. SOUNDBITE (French) Franck Duboeuf, President of Georges Duboeuf wine production company:

"This is the Beaujolais Nouveau that's being shipped to Boulogne and Calais (harbours on the Channel) to our client and then over here, we have another destination with our client (food industry wholesaler) Metro and it will be delivered to Paris."

16. Mid of Duboeuf looking at label on side of Beaujolais Nouveau shipment

17. Wide of Duboeuf standing outside wine shop with logo on façade

18. Pan of Duboeuf arranging bottles on table in front of him

19. Mid of 2019 Beaujolais Nouveau bottles on table with Duboeuf in foreground

20. Wide of showing bottle of rose

21. SOUNDBITE (French) Franck Duboeuf, President of Duboeuf wine production company:

"It's clear that if we didn't have a presence with this year's Beaujolais Nouveau, it could disappear from the (US) market altogether with such important competition and also because it's like a rendez-vous. If you miss the rendez-vous, it could, in following years, jeopardise what you've worked hard to build in 40 years. It was crucial that we save this campaign… in the future, it's the entire 2019 production, an entire region, an entire sector (that are threatened) and it's extremely complicated and worrying."

22. Close of 2019 Beaujolais Nouveau bottles produced for French and export markets by Georges Duboeuf wines

ASSOCIATED PRESS - AP CLIENTS ONLY

Villie-Morgon, France -12 November 2019

23. Close of Dominique Piron's 2019 Beaujolais Nouveau bottles

24. Wide of bottles sitting on top barrel with Piron in background leaning against stack of casks

25. Close of logo for Piron's winemaking company

26. SOUNDBITE (French) Dominique Piron, Winemaker and President of Beaujolais winemakers' association:

"Japan has lowered its taxes on imports but that doesn't mean they're buying more wine. China imports a lot of wine from Chile and Australia with no-tax deals between governments – that's unfair competition. Global wine trade is complicated nowadays especially at a time when competition is fierce. Globally, wine production is in overproduction and there's a tighter funnel when it comes to sales."

27. Mid of Piron during interview

28. SOUNDBITE (French) Dominique Piron, Winemaker and President of Beaujolais winemakers' association:

"We're lucky enough to see, in the past two or three years and with this new chapter that we're writing, Beaujolais sales on the increase, at a time when red wine consumption is going down globally in favour of Rose and white wines and with strong competition. Just an example: since the beginning of 2019 and up to the end of last August, the first 8 months of the year, French wine exports have fell by 2 percent. Three regions in France have seen theirs increase. The Loire valley with 4.5 percent, Burgundy at 5.5 percent and Beaujolais at 11 percent."

ASSOCIATED PRESS - AP CLIENTS ONLY

Chatillon, France - 13 November 2015

29. Wide of village of Chatillon, home to the Chasselay vineyard

30. Wide of Chasselay vineyard with view of Beaujolais hills

31. Wide of organic vines in row on Chasselay vineyard

32. Pull focus of vine branches

33. Wide of country road with sign showing direction to Chasselay 'Domaine'

34. Wide of Claire Chasselay wheeling boxes of Beaujolais Nouveau to back of van

35. Mid of Chasselay loading boxes into van

36. SOUNDBITE (French) Claire Chasselay, organic wine grower:

"Today, if you really want to make a living we have to stop selling our wines at a low price. We have to sell it at the right price and a price that generates a living wage for the winegrower but also the wine merchant and the restaurant owner. The right price. It's the same for all agricultural sectors. We're not asking to sell our bottles for 150 euros (166 US dollars) but an appropriate price. Consumers need to be – and I think they are – in a position to realise that they're ready to spend a little more for their wine or their meat or their cheese because they want to drink good quality products."

37. Wide of country road outside Chasselay family estate

ASSOCIATED PRESS - AP CLIENTS ONLY

Paris, France - 21 November 2019

38. Various shots of customers inside brasserie during lunchtime cheering and drinking Beaujolais

39. SOUNDBITE (French) Thierry Bobot, Parisian

"For me it's very good. Maybe there is a better one, that's possible, but it's very very good, very pleasant, very light with a very fruity aftertaste. For me, it's perfect but will everybody like it?."

40. Various shots of people drinking Beaujolais

LEADIN:

Celebration is the mot du jour in France’s Beaujolais region, with winemakers and sellers uncorking the season’s Beaujolais Nouveau with feasting and fanfare.

But uncertainty is clouding this year’s festivities as the French wine industry finds itself increasingly squeezed by unfavorable geopolitics and turbulent markets.

STORYLINE:

The wait is over as one of the year's most anticipated wine events is underway.

Parisians are enjoying a taste of the newly released Beaujolais Nouveau, the famous French young red wine whose unveiling is keenly anticipated every year by wine lovers around the world.

The grapes making up the wine in these bottles were harvested by hand only a few weeks ago.

At the Vinescence wine production company, wine was bottled and labelled ready for the market place.

Beaujolais, a region spanning 55 kilometers (34 miles) north of Lyon, has spent decades marketing its wines globally.

It now exports to more than 110 countries, according to statistics from Vinescence, which works with 310 winemakers in the area.

"The market for Beaujolais Nouveau like the one you see here is a global market – the first market in the world being Japan. The French market is also very important but you'll find some around the world, from the United States to Northern Europe. Eastern Europe countries also drink a lot (of Beaujolais Nouveau)," says the General Director of Vinescence, Jean-Paul Civeyrac.

An idiosyncratic wine known for its youth, rather than its age, Beaujolais Nouveau has seen particular success.

But considerable uncertainty is clouding this year's celebration, as the French wine industry finds itself increasingly squeezed by unfavourable geopolitics and turbulent markets.

New American tariffs are denting profits. Brexit still looms. Unrest in Hong Kong has shaken that market. And China is turning to Chilean and Argentine wines instead.

The Trump administration imposed the 25 percent import tax on most French still wines last month as part of a trade spat with the European Union over illegal subsidies for the aircraft giant Airbus.

Orders had already been placed, and places on planes or boats reserved, for this year's Beaujolais Nouveau by the time the tariffs took effect.

Producers said they struck up arrangements to shoulder part of the cost themselves — and distribute most of the rest along the supply chain — in order to retain their American clientele.

Franck Duboeuf, president of the largest Beaujolais Nouveau producer in the world, says the recent market developments are worrying.

"It's clear that if we didn't have a presence with this year's Beaujolais Nouveau, it could disappear from the (US) market altogether with such important competition and also because it's like a rendez-vous. If you miss the rendez-vous, it could, in following years, jeopardise what you've worked hard to build in 40 years. It was crucial that we save this campaign… in the future, it's the entire 2019 production, an entire region, an entire sector (that are threatened) and it's extremely complicated and worrying," he says.

On top of the tariffs, uncertainty lingers around future trade with the United Kingdom, which is heading toward an early election December 12 that will determine the future of Brexit.

When and how Brexit takes shape could impact the wine trade down the line.

Changing tastes complicate the picture further.

The Japanese, who were buying a "tsunami" of Beaujolais a decade ago, seem to be losing their appetite for the wine, says the President of Beaujolais winemakers' association Dominique Piron.

Twelve years ago, French winemakers sold one bottle of Beaujolais Nouveau for every 12 inhabitants in Japan — a total of 12 million bottles per year, according to Piron. Now, Japan imports about half that number.

"Japan has lowered its taxes on imports but that doesn't mean they're buying more wine. China imports a lot of wine from Chile and Australia with no-tax deals between governments – that's unfair competition. Global wine trade is complicated nowadays especially at a time when competition is fierce. Globally, wine production is in overproduction and there's a tighter funnel when it comes to sales."

Other Beaujolais producers, like organic winemaker Claire Chasselay, are orienting their businesses toward local consumers instead.

The size of winemaking operations in the region has grown with global demand.

Fifteen years ago, 4,000 producers made wine here; now, that number stands at 2,000, according to Piron, as big producers have acquired smaller operations and expanded their reach.

The Chasselay family, which has run vineyards north of Chatillon since the 15th century, has sought to buck that trend.

Chasselay says her philosophy centres around returning to winemaking's roots: small-scale, without pesticides, and focused on producing wine for mainly domestic consumers to pair with good food and lively company.

But she insists that Beaujolais Nouveau producers should not be selling their wine cheaply.

"Today, if you really want to make a living we have to stop selling our wines at a low price. We have to sell it at the right price and a price that generates a living wage for the winegrower but also the wine merchant and the restaurant owner. The right price," she says.

The Chasselays decided two decades ago to stop spraying with chemicals their vines, pre-empting the preference for organic products that has gripped younger consumers in recent years and placed pressure on winemakers to adapt their growing techniques.

Though they exported 6,000 of the 22,500 bottles of Beaujolais Nouveau they sold this year, Chasselay prefers to see her wine on nearby shelves and tables.

This year's Beaujolais Nouveau in now in Paris ( 21 November) being enjoyed by customers in the 'Au Petit Chavignol' brasserie.

Wine lover Thierry Bobot says he is happy with this year's vintage: " For me it's very good. Maybe there is a better one, that's possible, but it's very very good, very pleasant, very light with a very fruity aftertaste. For me, it's perfect but will everybody like it?."

====

Clients are reminded:

(i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com.

(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service

(iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory.

LEAD IN:

Celebration is the mot du jour in France’s Beaujolais region, with winemakers and sellers uncorking the season’s Beaujolais Nouveau with feasting and fanfare.

But uncertainty is clouding this year’s festivities as the French wine industry finds itself increasingly squeezed by unfavorable geopolitics and turbulent markets.

STORY-LINE:

The wait is over as one of the year's most anticipated wine events is underway.

Parisians are enjoying a taste of the newly released Beaujolais Nouveau, the famous French young red wine whose unveiling is keenly anticipated every year by wine lovers around the world.

The grapes making up the wine in these bottles were harvested by hand only a few weeks ago.

At the Vinescence wine production company, wine was bottled and labelled ready for the market place.

Beaujolais, a region spanning 55 kilometers (34 miles) north of Lyon, has spent decades marketing its wines globally.

It now exports to more than 110 countries, according to statistics from Vinescence, which works with 310 winemakers in the area.

"The market for Beaujolais Nouveau like the one you see here is a global market – the first market in the world being Japan. The French market is also very important but you'll find some around the world, from the United States to Northern Europe. Eastern Europe countries also drink a lot (of Beaujolais Nouveau)," says the General Director of Vinescence, Jean-Paul Civeyrac.

An idiosyncratic wine known for its youth, rather than its age, Beaujolais Nouveau has seen particular success.

But considerable uncertainty is clouding this year's celebration, as the French wine industry finds itself increasingly squeezed by unfavourable geopolitics and turbulent markets.

New American tariffs are denting profits. Brexit still looms. Unrest in Hong Kong has shaken that market. And China is turning to Chilean and Argentine wines instead.

The Trump administration imposed the 25 percent import tax on most French still wines last month as part of a trade spat with the European Union over illegal subsidies for the aircraft giant Airbus.

Orders had already been placed, and places on planes or boats reserved, for this year's Beaujolais Nouveau by the time the tariffs took effect.

Producers said they struck up arrangements to shoulder part of the cost themselves — and distribute most of the rest along the supply chain — in order to retain their American clientele.

Franck Duboeuf, president of the largest Beaujolais Nouveau producer in the world, says the recent market developments are worrying.

"It's clear that if we didn't have a presence with this year's Beaujolais Nouveau, it could disappear from the (US) market altogether with such important competition and also because it's like a rendez-vous. If you miss the rendez-vous, it could, in following years, jeopardise what you've worked hard to build in 40 years. It was crucial that we save this campaign… in the future, it's the entire 2019 production, an entire region, an entire sector (that are threatened) and it's extremely complicated and worrying," he says.

On top of the tariffs, uncertainty lingers around future trade with the United Kingdom, which is heading toward an early election December 12 that will determine the future of Brexit.

When and how Brexit takes shape could impact the wine trade down the line.

Changing tastes complicate the picture further.

The Japanese, who were buying a "tsunami" of Beaujolais a decade ago, seem to be losing their appetite for the wine, says the President of Beaujolais winemakers' association Dominique Piron.

Twelve years ago, French winemakers sold one bottle of Beaujolais Nouveau for every 12 inhabitants in Japan — a total of 12 million bottles per year, according to Piron. Now, Japan imports about half that number.

"Japan has lowered its taxes on imports but that doesn't mean they're buying more wine. China imports a lot of wine from Chile and Australia with no-tax deals between governments – that's unfair competition. Global wine trade is complicated nowadays especially at a time when competition is fierce. Globally, wine production is in overproduction and there's a tighter funnel when it comes to sales."

Other Beaujolais producers, like organic winemaker Claire Chasselay, are orienting their businesses toward local consumers instead.

The size of winemaking operations in the region has grown with global demand.

Fifteen years ago, 4,000 producers made wine here; now, that number stands at 2,000, according to Piron, as big producers have acquired smaller operations and expanded their reach.

The Chasselay family, which has run vineyards north of Chatillon since the 15th century, has sought to buck that trend.

Chasselay says her philosophy centres around returning to winemaking's roots: small-scale, without pesticides, and focused on producing wine for mainly domestic consumers to pair with good food and lively company.

But she insists that Beaujolais Nouveau producers should not be selling their wine cheaply.

"Today, if you really want to make a living we have to stop selling our wines at a low price. We have to sell it at the right price and a price that generates a living wage for the winegrower but also the wine merchant and the restaurant owner. The right price," she says.

The Chasselays decided two decades ago to stop spraying with chemicals their vines, pre-empting the preference for organic products that has gripped younger consumers in recent years and placed pressure on winemakers to adapt their growing techniques.

Though they exported 6,000 of the 22,500 bottles of Beaujolais Nouveau they sold this year, Chasselay prefers to see her wine on nearby shelves and tables.

This year's Beaujolais Nouveau in now in Paris ( 21 November) being enjoyed by customers in the 'Au Petit Chavignol' brasserie.

Wine lover Thierry Bobot says he is happy with this year's vintage: " For me it's very good. Maybe there is a better one, that's possible, but it's very very good, very pleasant, very light with a very fruity aftertaste. For me, it's perfect but will everybody like it?."

Paris, France - 21 November 2019

1. Various shots of Bernard Roques-Bouges, owner of 'Au Petit Chavignol' brasserie pouring Beaujolais Nouveau wine from cask into glass and testing it

2. Close up Beaujolais Nouveau in glasses

Saint-Jean-d'Ardieres, France - 12 November 2019

3. Close of 2019 Beaujolais Nouveau bottles on conveyor belt inside wine producer warehouse

4. Wide of bottling production line

5. Tracking shot of bottle along conveyor belt and General Director of Vinescence wine production company, Jean-Paul Civeyrac, walking towards labelling machine

6. Various of machine sticking labels on bottles

7. Mid of Civeyrac holding up bottle, UPSOUND (French) "So it's 2019 Beaujolais Nouveau, then you have the batch name and this indication that the wine comes from an environment-friendly farm."

8. Wide of line of bottles down conveyor belt and employees packing them in cardboard boxes

9. Mid of bottles down conveyor belt with fresh label reading 'Nouveau'

10. SOUNDBITE (French) Jean-Paul Civeyrac, General Director of Vinescence wine production company:

"The market for Beaujolais Nouveau like the one you see here is a global market – the first market in the world being Japan. The French market is also very important but you'll find some around the world, from the United States to Northern Europe. Eastern Europe countries also drink a lot (of Beaujolais Nouveau)."

11. Pan of bottle with fresh label reading 'Beaujolais'

12. Mid of box packed with 2019 Beaujolais Nouveau bottles down conveyor belt to stationing area

Romaneche-Thorins, France - 12 November 2019

13. Mid of Georges Duboeuf logo on side of warehouse of largest Beaujolais Nouveau producer

14. Tracking shot of Duboeuf President Franck Duboeuf walking across warehouse to last stacks of Beaujolais Nouveau yet to be shipped to clients

15. SOUNDBITE (French) Franck Duboeuf, President of Georges Duboeuf wine production company:

"This is the Beaujolais Nouveau that's being shipped to Boulogne and Calais (harbours on the Channel) to our client and then over here, we have another destination with our client (food industry wholesaler) Metro and it will be delivered to Paris."

16. Mid of Duboeuf looking at label on side of Beaujolais Nouveau shipment

17. Wide of Duboeuf standing outside wine shop with logo on façade

18. Pan of Duboeuf arranging bottles on table in front of him

19. Mid of 2019 Beaujolais Nouveau bottles on table with Duboeuf in foreground

20. Wide of showing bottle of rose

21. SOUNDBITE (French) Franck Duboeuf, President of Duboeuf wine production company:

"It's clear that if we didn't have a presence with this year's Beaujolais Nouveau, it could disappear from the (US) market altogether with such important competition and also because it's like a rendez-vous. If you miss the rendez-vous, it could, in following years, jeopardise what you've worked hard to build in 40 years. It was crucial that we save this campaign… in the future, it's the entire 2019 production, an entire region, an entire sector (that are threatened) and it's extremely complicated and worrying."

22. Close of 2019 Beaujolais Nouveau bottles produced for French and export markets by Georges Duboeuf wines

Villie-Morgon, France -12 November 2019

23. Close of Dominique Piron's 2019 Beaujolais Nouveau bottles

24. Wide of bottles sitting on top barrel with Piron in background leaning against stack of casks

25. Close of logo for Piron's winemaking company

26. SOUNDBITE (French) Dominique Piron, Winemaker and President of Beaujolais winemakers' association:

"Japan has lowered its taxes on imports but that doesn't mean they're buying more wine. China imports a lot of wine from Chile and Australia with no-tax deals between governments – that's unfair competition. Global wine trade is complicated nowadays especially at a time when competition is fierce. Globally, wine production is in overproduction and there's a tighter funnel when it comes to sales."

27. Mid of Piron during interview

28. SOUNDBITE (French) Dominique Piron, Winemaker and President of Beaujolais winemakers' association:

"We're lucky enough to see, in the past two or three years and with this new chapter that we're writing, Beaujolais sales on the increase, at a time when red wine consumption is going down globally in favour of Rose and white wines and with strong competition. Just an example: since the beginning of 2019 and up to the end of last August, the first 8 months of the year, French wine exports have fell by 2 percent. Three regions in France have seen theirs increase. The Loire valley with 4.5 percent, Burgundy at 5.5 percent and Beaujolais at 11 percent."

Chatillon, France - 13 November 2015

29. Wide of village of Chatillon, home to the Chasselay vineyard

30. Wide of Chasselay vineyard with view of Beaujolais hills

31. Wide of organic vines in row on Chasselay vineyard

32. Pull focus of vine branches

33. Wide of country road with sign showing direction to Chasselay 'Domaine'

34. Wide of Claire Chasselay wheeling boxes of Beaujolais Nouveau to back of van

35. Mid of Chasselay loading boxes into van

36. SOUNDBITE (French) Claire Chasselay, organic wine grower:

"Today, if you really want to make a living we have to stop selling our wines at a low price. We have to sell it at the right price and a price that generates a living wage for the winegrower but also the wine merchant and the restaurant owner. The right price. It's the same for all agricultural sectors. We're not asking to sell our bottles for 150 euros (166 US dollars) but an appropriate price. Consumers need to be – and I think they are – in a position to realise that they're ready to spend a little more for their wine or their meat or their cheese because they want to drink good quality products."

37. Wide of country road outside Chasselay family estate

Paris, France - 21 November 2019

38. Various shots of customers inside brasserie during lunchtime cheering and drinking Beaujolais

39. SOUNDBITE (French) Thierry Bobot, Parisian

"For me it's very good. Maybe there is a better one, that's possible, but it's very very good, very pleasant, very light with a very fruity aftertaste. For me, it's perfect but will everybody like it?."

40. Various shots of people drinking Beaujolais

LEAD IN:

Last minute preparations are underway in the Beaujolais region ahead of the release of France's most famous young wine.

Beaujolais Nouveau producers are concerned about the impact US tariffs and increased competition will have on their industry.

But it seems the wine itself is tasting good this year.

STORY-LINE:

Production for one of the year's most anticipated wine events is underway.

The grapes making up the wine in these bottles were harvested by hand only a few weeks ago.

At the Vinescence wine production company, wine is being bottled and labelled ahead of the third Thursday of November, when winemakers and sellers are set to uncork the season's Beaujolais Nouveau with feasting and fanfare.

Beaujolais, a region spanning 55 kilometers (34 miles) north of Lyon, has spent decades marketing its wines globally.

It now exports to more than 110 countries, according to statistics from Vinescence, which works with 310 winemakers in the area.

"The market for Beaujolais Nouveau like the one you see here is a global market – the first market in the world being Japan. The French market is also very important but you'll find some around the world, from the United States to Northern Europe. Eastern Europe countries also drink a lot (of Beaujolais Nouveau)," says the General Director of Vinescence, Jean-Paul Civeyrac.

An idiosyncratic wine known for its youth, rather than its age, Beaujolais Nouveau has seen particular success.

But considerable uncertainty is clouding this year's celebration, as the French wine industry finds itself increasingly squeezed by unfavourable geopolitics and turbulent markets.

New American tariffs are denting profits. Brexit still looms. Unrest in Hong Kong has shaken that market. And China is turning to Chilean and Argentine wines instead.

The Trump administration imposed the 25 percent import tax on most French still wines last month as part of a trade spat with the European Union over illegal subsidies for the aircraft giant Airbus.

Orders had already been placed, and places on planes or boats reserved, for this year's Beaujolais Nouveau by the time the tariffs took effect.

Producers said they struck up arrangements to shoulder part of the cost themselves — and distribute most of the rest along the supply chain — in order to retain their American clientele.

Franck Duboeuf, president of the largest Beaujolais Nouveau producer in the world, says the recent market developments are worrying.

"It's clear that if we didn't have a presence with this year's Beaujolais Nouveau, it could disappear from the (US) market altogether with such important competition and also because it's like a rendez-vous. If you miss the rendez-vous, it could, in following years, jeopardise what you've worked hard to build in 40 years. It was crucial that we save this campaign… in the future, it's the entire 2019 production, an entire region, an entire sector (that are threatened) and it's extremely complicated and worrying," he says.

On top of the tariffs, uncertainty lingers around future trade with the United Kingdom, which is heading toward an early election December 12 that will determine the future of Brexit.

When and how Brexit takes shape could impact the wine trade down the line.

Changing tastes complicate the picture further.

The Japanese, who were buying a "tsunami" of Beaujolais a decade ago, seem to be losing their appetite for the wine, says the President of Beaujolais winemakers' association Dominique Piron.

Twelve years ago, French winemakers sold one bottle of Beaujolais Nouveau for every 12 inhabitants in Japan — a total of 12 million bottles per year, according to Piron. Now, Japan imports about half that number.

"Japan has lowered its taxes on imports but that doesn't mean they're buying more wine. China imports a lot of wine from Chile and Australia with no-tax deals between governments – that's unfair competition. Global wine trade is complicated nowadays especially at a time when competition is fierce. Globally, wine production is in overproduction and there's a tighter funnel when it comes to sales."

Other Beaujolais producers, like organic winemaker Claire Chasselay, are orienting their businesses toward local consumers instead.

The size of winemaking operations in the region has grown with global demand.

Fifteen years ago, 4,000 producers made wine here; now, that number stands at 2,000, according to Piron, as big producers have acquired smaller operations and expanded their reach.

The Chasselay family, which has run vineyards north of Chatillon since the 15th century, has sought to buck that trend.

Chasselay says her philosophy centres around returning to winemaking's roots: small-scale, without pesticides, and focused on producing wine for mainly domestic consumers to pair with good food and lively company.

But she insists that Beaujolais Nouveau producers should not be selling their wine cheaply.

"Today, if you really want to make a living we have to stop selling our wines at a low price. We have to sell it at the right price and a price that generates a living wage for the winegrower but also the wine merchant and the restaurant owner. The right price," she says.

The Chasselays decided two decades ago to stop spraying with chemicals their vines, pre-empting the preference for organic products that has gripped younger consumers in recent years and placed pressure on winemakers to adapt their growing techniques.

Though they exported 6,000 of the 22,500 bottles of Beaujolais Nouveau they sold this year, Chasselay prefers to see her wine on nearby shelves and tables.

Eight days before market day, she loaded one of the season's last orders into her van and drove it 17 kilometers to the wine shop and restaurant of Gaetan Vial in Charbonnières-les-Bains.

Swirling the light red around in his mouth, Vial pronounced it "top-notch."

"It has this fresh aftertaste that makes you want to pour yourself another glass. It has strength in taste and substance, so everything you need," Vial says.

"Yet another good year."

Saint-Jean-d'Ardieres, France - 12 November 2019

1. Close of 2019 Beaujolais Nouveau bottles on conveyor belt inside wine producer warehouse

2. Wide of bottling production line

3. Tracking shot of bottle along conveyor belt and General Director of Vinescence wine production company, Jean-Paul Civeyrac, walking towards labelling machine

4. Various of machine sticking labels on bottles

5. Mid of Civeyrac holding up bottle, UPSOUND (French) "So it's 2019 Beaujolais Nouveau, then you have the batch name and this indication that the wine comes from an environment-friendly farm."

6. Wide of line of bottles down conveyor belt and employees packing them in cardboard boxes

7. Mid of bottles down conveyor belt with fresh label reading 'Nouveau'

8. SOUNDBITE (French) Jean-Paul Civeyrac, General Director of Vinescence wine production company:

"The market for Beaujolais Nouveau like the one you see here is a global market – the first market in the world being Japan. The French market is also very important but you'll find some around the world, from the United States to Northern Europe. Eastern Europe countries also drink a lot (of Beaujolais Nouveau)."

9. Pan of bottle with fresh label reading 'Beaujolais'

10. Mid of box packed with 2019 Beaujolais Nouveau bottles down conveyor belt to stationing area

Romaneche-Thorins, France - 12 November 2019

11. Mid of Georges Duboeuf logo on side of warehouse of largest Beaujolais Nouveau producer

12. Tracking shot of Duboeuf President Franck Duboeuf walking across warehouse to last stacks of Beaujolais Nouveau yet to be shipped to clients

13. SOUNDBITE (French) Franck Duboeuf, President of Georges Duboeuf wine production company:

"This is the Beaujolais Nouveau that's being shipped to Boulogne and Calais (harbours on the Channel) to our client and then over here, we have another destination with our client (food industry wholesaler) Metro and it will be delivered to Paris."

14. Mid of Duboeuf looking at label on side of Beaujolais Nouveau shipment

15. Wide of Duboeuf standing outside wine shop with logo on façade

16. Pan of Duboeuf arranging bottles on table in front of him

17. Mid of 2019 Beaujolais Nouveau bottles on table with Duboeuf in foreground

18. Wide of showing bottle of rose

19. SOUNDBITE (French) Franck Duboeuf, President of Duboeuf wine production company:

"It's clear that if we didn't have a presence with this year's Beaujolais Nouveau, it could disappear from the (US) market altogether with such important competition and also because it's like a rendez-vous. If you miss the rendez-vous, it could, in following years, jeopardise what you've worked hard to build in 40 years. It was crucial that we save this campaign… in the future, it's the entire 2019 production, an entire region, an entire sector (that are threatened) and it's extremely complicated and worrying."

20. Close of 2019 Beaujolais Nouveau bottles produced for French and export markets by Georges Duboeuf wines

Villie-Morgon, France -12 November 2019

21. Close of Dominique Piron's 2019 Beaujolais Nouveau bottles

22. Wide of bottles sitting on top barrel with Piron in background leaning against stack of casks

23. Close of logo for Piron's winemaking company

24. SOUNDBITE (French) Dominique Piron, Winemaker and President of Beaujolais winemakers' association:

"Japan has lowered its taxes on imports but that doesn't mean they're buying more wine. China imports a lot of wine from Chile and Australia with no-tax deals between governments – that's unfair competition. Global wine trade is complicated nowadays especially at a time when competition is fierce. Globally, wine production is in overproduction and there's a tighter funnel when it comes to sales."

25. Mid of Piron during interview

26. SOUNDBITE (French) Dominique Piron, Winemaker and President of Beaujolais winemakers' association:

"We're lucky enough to see, in the past two or three years and with this new chapter that we're writing, Beaujolais sales on the increase, at a time when red wine consumption is going down globally in favour of Rose and white wines and with strong competition. Just an example: since the beginning of 2019 and up to the end of last August, the first 8 months of the year, French wine exports have fell by 2 percent. Three regions in France have seen theirs increase. The Loire valley with 4.5 percent, Burgundy at 5.5 percent and Beaujolais at 11 percent."

Chatillon, France - 13 November 2015

27. Wide of village of Chatillon, home to the Chasselay vineyard

28. Wide of Chasselay vineyard with view of Beaujolais hills

29. Wide of organic vines in row on Chasselay vineyard

30. Pull focus of vine branches

31. Wide of country road with sign showing direction to Chasselay 'Domaine'

32. Wide of Claire Chasselay wheeling boxes of Beaujolais Nouveau to back of van

33. Mid of Chasselay loading boxes into van

34. SOUNDBITE (French) Claire Chasselay, organic wine grower:

"Today, if you really want to make a living we have to stop selling our wines at a low price. We have to sell it at the right price and a price that generates a living wage for the winegrower but also the wine merchant and the restaurant owner. The right price. It's the same for all agricultural sectors. We're not asking to sell our bottles for 150 euros (166 US dollars) but an appropriate price. Consumers need to be – and I think they are – in a position to realise that they're ready to spend a little more for their wine or their meat or their cheese because they want to drink good quality products."

35. Wide of country road outside Chasselay family estate

Charbonniere-les-Bains, France - 13 November 2015

36. Wide of Chasselay holding door of shop as wine shop manager and oenologist Gaetan Vial wheels in boxes of Beaujolais Nouveau

37. Mid of Vial placing boxes along wall at back of shop

38. Mid of cork being pulled out of 2019 Nouveau bottle

39. Mid of wine being poured into glasses

40. Mid of Vial reaching for glass and smelling wine

41. Mid of Vial tasting wine

42. SOUNDBITE (French) Gaëtan Vial, Wine shop manager and oenologist:

"It has this fresh aftertaste that makes you want to pour yourself another glass. It has strength in taste and substance, so everything you need. You also have the taste of the fruit that's typical of Beaujolais Nouveau and it's balanced. It also has this acidity that's very enjoyable and the tannins are supple so.. yet another good year."

43. Mid of Vial talking to Chasselay

44. Mid of reflection of Vial and Chasselay holding glasses inside shop

Speaking at the Women in the World Summit on Thursday, First Minister of Scotland Nicola Sturgeon faulted the UK on taking away Scotland's choice to stay in the European Union.

Three years after Scotland voted in a referendum to remain as part of the UK, Sturgeon said the decision by the UK to leave the European bloc had left them facing the reality that Scotland would be "taken out of the European Union against our democratically expressed will."

Sturgeon also commented on the UK government's cut to child tax credit that limits claims to the the first two children.

A number of exemptions to the new rules are in place, including multiple birth, adoption and non-consensual pregnancy.

The so-called 'rape clause' means women will have to prove that they had their third child as a result of being a victim of rape or while in a coercive relationship to qualify for an exemption.

Sturgeon called this policy move, "disgusting and disgraceful".

New York - April 6, 2017

1. Nicola Sturgeon, First Minister of Scotland and moderator Tina Brown

2. SOUNDBITE (English) Nicola Sturgeon, First Minister of Scotland:

"Scotland had an independence referendum less than three years ago. But in that referendum one of the big debates was about Scotland's membership in the European Union and those who had argued against independence said that if we decided to become independent we would be thrown out of the European Union. Scotland couldn't be a member, and yet here we are less than three years later and we face being taken out of the European Union against our democratically expressed will. So the circumstances have changed and in those new circumstances I think it's right that people in Scotland can look at the alternative futures on offer and decide which one is best for our interests and which one we think enables us to play the role in the world that we want to play."

3. Sturgeon and Brown

4. SOUNDBITE (English) Nicola Sturgeon, First Minister of Scotland:

"There is a policy introduced in the UK today, it's become known as the 'rape clause', and that policy is that for a women, we have a system of tax credits, that's state support for low income families, and this new law that is taking effect today only allows women to claim tax credits for two children. For a third or subsequent child, if they claim or are to be eligible for tax credits they have to prove that the child was conceived as a result of rape. It is a disgusting and disgraceful policy, but that policy has been introduced by a woman prime minister and that's the point I am making. It's not enough to be a woman in politics, you have to do the right things with the power that you've got."

5. Sturgeon and Brown

6. SOUNDBITE (English) Nicola Sturgeon, First Minister of Scotland: ++WIDE SHOT SHOWING NEWSPAPER HEADLINE ABOUT LEGS++

"I tried not to overreact because I think sometimes newspapers like the Daily Mail do it in order to get attention so why give them what they want? But that is a vivid illustration of, no matter how much progress women have made and are making, it's a vivid illustration of how much more we still have to achieve."

7. Sturgeon and Brown

8. SOUNDBITE (English) Nicola Sturgeon, First Minister of Scotland:

"I look at Hillary (Clinton) and she has been a trailblazer for women in politics, whatever you think about her politics. I find many of her qualities are admirable. Her sheer resilience I find utterly amazing, but she has made it easier for women like me in politics and I think that I and women across the world really owe Hillary Clinton a debt of gratitude."

9. Wide of Sturgeon and Brown

Australians headed to the polls on Saturday with most recent opinion polls predicting a close race.

The election sees opposition leader Bill Shorten vying to become the country's fifth prime minister in three years.

Prime Minister and Liberal Party leader Malcolm Turnbull has urged Australians to vote for continuity and stability by re-electing his conservative coalition, which dumped the country's last prime minister, Tony Abbott, less than a year ago.

Shorten, who played a key role in his centre-left Labor Party ousting two of its own prime ministers in the space of three years, says the government remains deeply divided and that Labor is the stable option.

Global market turmoil since the Brexit vote, Australia's success in turning back asylum seeker boats, gay marriage, housing prices, corporate tax rates and union corruption have been major issues in the eight-week campaign.

Polling suggests that Labor will gain some seats in the election, but not the 21 needed to form a majority government in the 150-seat House of Representatives.

Australians headed to the polls on Saturday with most recent opinion polls predicting a close race.

The election sees opposition leader Bill Shorten vying to become the country's fifth prime minister in three years.

Prime Minister and Liberal Party leader Malcolm Turnbull has urged Australians to vote for continuity and stability by re-electing his conservative coalition, which dumped the country's last prime minister, Tony Abbott, less than a year ago.

Shorten, who played a key role in his centre-left Labor Party ousting two of its own prime ministers in the space of three years, says the government remains deeply divided and that Labor is the stable option.

Global market turmoil since the Brexit vote, Australia's success in turning back asylum seeker boats, gay marriage, housing prices, corporate tax rates and union corruption have been major issues in the eight-week campaign.

Polling suggests that Labor will gain some seats in the election, but not the 21 needed to form a majority government in the 150-seat House of Representatives.

Sydney - 2 June 2016

1. Various of polling station with voters queueing

2. Campaign posters

3. Voters entering polling station

4. More of queue of voters