Llywydd, 100 years ago, David Lloyd George became Prime Minister. The Government he formed led the allies to a hard-won victory, massively extended the franchise, and established health and housing as governmental priorities. Wales seemed to find a hero figure—the Arthur of legend. The first man without independent means to become Prime Minister, Lloyd George demonstrated that the Welsh could reach the highest offices of state. Although the Tudors occasionally thought of themselves as Welsh, or at least Shakespeare had those thoughts for them, Lloyd George was Welsh to the core. It was the very source of his energy. As Chancellor of the Exchequer, he had already reshaped the state. After his people’s budget of 1909, the primary purpose of the state was not to protect property but to promote the welfare of the people—Llywydd, perhaps I should say the ‘gwerin’. It led to that amazing battle with the House of Lords and one of the funniest quips in our political history, when he said that the House of Lords is

‘not the watchdog of the constitution, but Mr Balfour's poodle’.

Well, perhaps it went down better in Edwardian times. [Laughter.]

Lloyd George is among our greatest Prime Ministers. Of his contemporaries, only Churchill and Atlee surpassed him—Churchill by ensuring victory in an even grimmer conflict; Atlee by forging a peacetime consensus for a welfare state. Yet, in his range, he had no equal. In periods of war and peace, Lloyd George displayed the highest statecraft. Llywydd, we live in a period of remarkable social and geopolitical change, and it is fitting that we should be inspired by the achievements of Lloyd George, which tackled challenges that were deeper still.