 Wel, mae'n gweithio, mae'n dweud i gael i'w wneud o'r sgolwgr ymlaen. Felly, mae'n gweithio'n gweithio, y Prif Weinidog, Harold Macmillan, dwi'n cael ei ddweud o'r ddysgu'r politicau, a mae'n dweud o'r ddweud o'r ddweud o'r ddweud o'r ddweud o'r ddweud. Ifour votes in the House was suddenly called for and all the timetabling was thrown into disarray, it seemed a very good example of what events really mean. But all the politicians put a great effort in to make it here, and I'm hugely grateful for that, particularly clearly, the Chancellor, because without him it would have been a difficult evening. But the consequence of this, just to forewarn you, is that instead of having a break between two speeches, you're going to have the delight of two back-to-back moments. So then by the time you get to the main course, by Jerv, you'll be ready for it. But I mean, it is absolutely terrific that so many of you have come tonight. A few weeks ago, I actually visited Greenwich and I went to see the Cutty Sark, the Maritime Museum and the Observatory. And if you haven't been, I would really recommend it. It shows the United Kingdom as a great trading nation. It's a wonderful record-breaking clippership on display, the power of the East India Company, which you see in the Maritime Museum, a company born in London, which actually dominated international trade. And then the innovative skills of UK engineers and scientists at their very best, solving the problems of timekeeping, of longitude and navigation on the high seas. It truly is an example of Great Britain, and it's memorable, and I have to say it's also inspirational. Now tonight, there are many captains here of industry, I have to say, rather than of warships. But, well, sometimes both actually, I'm thinking about it now. But many of you in the period, having had a period where you've chartered courses for their business and in recent years, the challenge of navigating through what have clearly been some pretty choppy waters. Now during the journey, as we've watched this, some of the captains have sadly been washed overboard. A few vessels have floundered, but most are still plowing on, cautiously but quietly confident, I think now of reaching a relatively safe harbour. And as business leaders, it's been hard going. But at least we weren't the Chancellor of the Exchequer. Officer on the watch in swirling economic fog, boarding, I have to say at the outset, a pretty creaking craft, which was listing on departure, shipping, we are told, in more water than it could reasonably pump out, winds that have only blown in the face and rarely in the sails, and a crew sometimes sailing under different colours. And be calmed waters, making that forward progress pretty difficult. So certainly not a luxury cruise. Now the Chancellor has been strapped to the mast throughout, but we are particularly grateful therefore that he made the time to join this evening. And I and I know everybody is hugely appreciative, Chancellor. Thank you so much. Now clearly, this hasn't been the voyage to the new world, which we'd all hoped for, all of us had hoped for, three or four years ago, that the sunny uplands remain a pretty distant destination. But we are not sinking. And the crew, as I go around the country, is clearly mostly in good heart. And we still are one of the fastest ships in the European convoy. And as we assess progress over the last 36 months, it is important that we do so, I think, dispassionately, not politically. And to benchmark both performance and, importantly, our expectation of what good looks like against those that are truly our economic peer group and not the more fortunate outliers. So in the real world, how are we doing? Well, in truth again, I think better than many of the headlines would, in fact, have us believe. Since taking up the role of President of the CBI just two years ago, much has changed in both the political and the economic landscape. Europe has slowly edged forward from really what was a basket case on life support in intensive care as we all saw it, now getting to the stage of being in fragile recovery, but still in recovery. And I think we all have to hope that that convalescence continues because it is for all our sakes. America has had the most remarkable transformation boosted by cheap shale gas. And it's once again demonstrated that as an economy, it may occasionally be down, but it certainly isn't out. And it may just be with the help of, I think, the mighty dollar printing press. It might just be the Western engine of growth that helps pull us all out of the difficulties. Looking a little bit further afield, Japan stagnant now for many years, now deluges its economy with new money. And in that case, hoping inflation may well awaken the sleeping giant. And in parallel, China and India simply power on at enviable levels of growth. At home, a return to growth has been challenging with living standards under pressure and debt levels remaining stubbornly high. Recent signs, I think, have been encouraging, but risk remain from inflation at home, which we must be careful and thoughtful about, and the macroeconomic changes abroad. But nevertheless, progress is being made. Politically, we've witnessed the changing of the guard in China with fortunately no change in policy. We've also seen the second term of the president in America, sadly with no real sign of political harmony. But we've also seen turbulence throughout much of Europe and yet no absolute certainty of economic recovery. At home, the government has obviously battled in the face of adversity, and the opposition has morphed from what was seeming originally to be disarray, to a more confident and a more credible alternative. And competition, as I well know from the energy business, and I'm looking at the energy secretary when I say this, is always a good thing for the consumer. Now, in the spending review, we've been very clear, we must learn to live within our means, and the ring fences that we have put around certain parts of our economy must not be the license for inefficiency. And as a nation, I do believe there's a growing recognition that we are entitled to nothing. The welfare cannot be provided without wealth creation. And a grudging acceptance that austerity at home and exports abroad must be the twin-track solution to the problems that we have. And I think that across the piece now is generally understood to be the way forward. And in this regard, political and economic opinion remains, I think, to be fair more divided in detail than in principle. The CBI position with no political alignment and only a pro-business focus has been clear in its belief that financial rigour is the bedrock of recovery. We have been unwavering in our support for this policy throughout my presidency. And while siren voices may suggest relaxation in the words of Baroness Thatcher, this is no time to wobble, George. And with the powerful support of members, we've been equally clear with the government as to the needs of business. Reduced taxation and regulation, improved education, scoping an industrial policy, not meddling in remuneration, speaking up for business at home and supporting business abroad. And to be fair, government has consistently responded, lowering taxes, both corporate and personal, reducing regulation, supporting sectors and not picking winners, encouraging diversity and discouraging greed by dialogue and debate rather than simple legislation and dictate. Our criticisms, rarely on policy or mindset, have focused pretty much on presentation, which has sometimes been rather clumsy, and execution, which has been invariably slow. But without doubt, the voice of business from the CBI has caught the ear of government, and the direction of travel, whilst never fast enough, has been both positive and welcome. May it continue to accelerate with less words, fewer new initiatives, and more action. But whilst much around us has remained troubled, there have been real achievements to celebrate, the renaissance of the automotive industry, now a net exporter, hardly credible a decade ago. The strength of our pharma, food and technology businesses across the world, our creative industries who continue to beat Hollywood at its own game. We've witnessed growth in our exports to growth markets with very strong support from a refocused and re-energised foreign office, which has been hugely beneficial to industry large and small in their efforts to export across the world. Investment in aerospace, funded by the Treasury, following a dogged and determined campaign by Vince Cable and Biz, it's a case that has been made well worth being made and won. And that's very much, I think, to our collective advantage. All these steps really supporting the creation of 600,000 jobs in the private sector, we still need more to tackle unemployment, which is still a tragedy, but in turn helping to cushion what is a painful transition, an inevitable painful transition from public to private sector across the country. So with all the success stories, what is the missing ingredient? And the answer, of course, is it's that simple thing which is rock solid confidence. And confidence everyone in this room will know is the catalyst to growth. It is the trigger that ultimately liberates cash from balance sheets and it encourages management to take risk. But it's a feeling, I mean it isn't a fact and it's essential, therefore, that we are all vocal government and business about the successes we have achieved. We have to drown out the commentators that revel in our difficulties and disappointments and ensure that business is valued as a key contributor to our well-being. Banging the drum for business, large, medium and small is in all our interests. Now there are, of course, weak spots and there are four key areas that remain for me as the to-do list for those that follow. First and foremost, it is this relentless focus on execution. It's something that every businessman knows is the difference between giving an order and seeing something actually happen. Driving plans for quick wins and fast starts. Dropping departmental barriers that frustrate delivery and neutralising rivalries. And at the same time helping to refresh a whitehall culture from playing safe to making it happen. And that's in energy, in defence, in transport. It's part of re-energising business, government and the civil service working in the same direction with the same energy and drive. Second, greater focus on construction and infrastructure. Attracting private funding, refasing expenditure to front load activity. Building social housing. Creating jobs and generating activity. Funding for lending has undoubtedly helped. It was a good idea and it's trickling through the economy. But ranking our priorities, driving progress, shoveled in the ground, as John would say, not words on the page. This is the way forward. My third point is really continuing an existing theme. It is driving the export agenda. Opening aviation capacity, loosening visa controls, sensibly and thoughtfully, with continued sales support at the top level, which I have to say we have had. But continuing that, greater directional guidance at the entry level for businesses that are just finding their way and financial encouragement to do this at all levels. Nurturing old relationships, rebuilding the transatlantic links, expanding in new territories, business and government working together to export in the nation's interest. The escape route from our current dilemma, which must remain our priority. And finally, visible engagement with Europe. Building alliances with common cause. Identifying changes for the benefit of all. Arguing the case from the core, not the fringe. Business and politicians having the courage to challenge the conditions, but the belief to champion the cause. We have clarity on process. We still have uncertainty on outcome. The fences have been erected and it is our responsibility to work and articulate the case as to how we jump those fences and overcome the hurdle. Now these issues I think mark the crossroads of our future. A role which I see as linked to an improved Europe through a domestic infrastructure, road, rail, air and of course the ports, efficiently connecting us to a wider global marketplace. And in the doing of that, our expectations of growth must be grounded in the realism of our neighbourhood economics. But our ambitions must be driven by the opportunities that clearly exist beyond. And to return to where I started in Greenwich, we must become again what we once were. A trading nation with a glorious track record with the skills and determination to build a prosperous future in the UK, in Europe and indeed across the world. Now my time as president of the CBI has taught me much. It's shown to me the resilience of companies. I think very encouragingly the sheer enthusiasm and determination of business leaders. I've also seen the value of collective endeavour and the benefits of constructive engagement with government and opposition. And not for the first time I've been reminded that the person in the chair is actually only as good as the executive team in the office. And I've been particularly fortunate to work with John and the leadership group throughout my time. And I thank them all for that. As I draw to the end of my period, I have to say it has been an absolute privilege to serve. And it's been a pleasure for me to work with so many of you over the last two years. And I thank you for all the support you have given me. And finally, I wish my successors and my break, John and the team every good wish for the future. I also wish the economy to gather a little wind in its sails. And for you all, the members, a return to well-earned and well-deserved prosperity. Thank you so much.