Paul Seymour (Chairman, SIAS): Can I start this evening by welcoming everybody to this Jubilee Lecture. As I think most of you will know, it is the first in a series that we have laid on at the Staple Inn Actuarial Society for the 150th Anniversary of the profession and we are delighted, as you might imagine, to have Lord Hurd–Douglas Hurd–to start us off in this March lecture. We've got as a guest here Tim Congdon who is going to be speaking in Bristol. I am hoping to get Patrick Minford to speak in Liverpool and we are still trying to get a speaker for Edinburgh. So we have this series going as part of the Staple Inn Actuarial Society's contribution to our 150th Anniversary celebrations. Another part of it, by the way–and I will use this opportunity to plug it–is that we are having a May Ball on 9 May, and I am sure people should mark that date in their diaries because that is another important thing we are doing for the 150th.