My Lord Mayor, the anniversary of any occasion is a time to reflect. But in light of the events of the last 12 months, perhaps I have more to reflect on than most. 1992 is not a year on which I shall look back with undiluted pleasure. It has turned out to be an Annus Horribilis.

No institution is beyond reproach, and no member of it either. The high standards we in the monarchy are held to by the public must be the same benchmark to which we hold ourselves personally. If we can't admit the errors of our past, what hope for reconciliation can there be?

Today, I'd like to pay tribute, if I may, to my family. Throughout the four decades I have been on the throne they have quite literally been my sun and water. For all the sacrifices they have made, indeed, to all of you here whose prayers and well-wishes have been a source of strength to me these last forty years, I say thank you.