Every year on the Monday following his installation, the new Lord Mayor of London gives a banquet in honour of his predecessor.
Peter Jones describes the scene in the Guildhall, London, before the new Lord Mayor, Sir Greville Spratt, GBE TD DL, proposes the toast to Her Majesty's Ministers. The Prime Minster, The Rt Hon Margaret Thatcher MP, replies, giving what is recognised as a major speech on the country's position in international affairs.