MT
Mr Reichmann, ladies and gentlemen:
When I learned about this project, it seemed to me one of the most exciting that we had ever known. Ten years ago, it would not have been possible even to think in such bold, ambitious terms. And then a number of things began to happen. First, there was a change of Government in 1979. I think that was a very good change and a very wise one [laughter]. Then that Government started to do remarkable things, and if I might add a quotation—it's not really a very old one, it's really a Thatcher one—it is, “The art of politics is the art of making the impossible happen.” And that in fact is what we have been doing.
Several things began to become possible because we were farsighted, because we knew the spirit of enterprise that Britain had been capable of, we believed that was still possible to be present in our people, and we took a risk, and planned on the assumption it was. And we were right. And so we started by getting rid of a lot of the obstacles to enterprise. We began to have sound financial policies, get rid of the obstacles, give incentives.
Right at the beginning, we have been very concerned about this great big piece of docklands in London, which had been in the hands of many local authorities and they could never agree what to do with it. So we took a bold decision. We would form an Urban Development Corporation and have it developed together. We have been very fortunate in both our Chairmen, that they had another quotation in mind—older than the one you mentioned, Mr Reichmann—but one which we were discussing when we were down in Canary Wharf a moment ago: “Where there is no vision, the people perish.” And we started to provide the vision. And so we began, and so did those two Chairmen, we began this ambitious scheme, and people saw that it could work, saw it with their own eyes. [end p1]
A number of other things began to happen almost simultaneously. Europe—of which we are one of the foremost members, although not one of the earliest—we began to work much more closely together in Europe and to solve some of the long standing problems of the European Community. And as you know now, we are planning to have Europe as a whole single market in 1992, and we're working towards that. That will make this side of the Atlantic a power in the world equal to the size of any other power and, according to the opportunities we do with it, possibly even greater.
Simultaneously, we decided to develop a channel tunnel, wholly out of private sector finance, and it will be completed by 1993. Simultaneously, the city—we … er, have many of the restrictive practices removed, and they had their great renewal just over—what?—a year to two years ago. And so the city has once again had its renaissance to just about the most powerful, outward-looking financial centre the world over. You add all these things together and we have a fantastic opportunity in London, in Britain, in Europe.
And so it was in that spirit that I met Mr Reichmann when I heard about this. And this is going to be the biggest commercial development in the world: in London, in Docklands. Of course, we decided to do everything possible, and it's marvellous that that too will be complete in seven years. Mind you, when you don't have to have planning permission from a local authority, that can get it from an Urban Development Corporation, it speeds things up enormously. When you have everything working with you, it speeds it up enormously. So we have been down to Canary Wharf this morning, and I have to report to you that the first pile has been well and truly driven [laughter]. I think the foreman was very worried about giving me the instructions and very nervous, and so was I, but we got on very well together, and you can see the pile driving going in, and in, and in.
I do have to thank and congratulate Mr Reichmann and Olympia and York for their vision. We have to thank them for their faith in Britain. We have to thank them for constructing, I think, what will be a unique development: the architecture all planned together, all in keeping, all with its own focus. And I think, perhaps, the most thoughtful and wonderful touch that the whole thing is aligned so that, if other buildings don't come in the way, you still have a view of St Paul's, and that environmentally appeals to many of us.
And so, yes, today is a very exciting day. The formal beginning of the Canary Wharf project. And I'm sure that many of you will be extremely interested in it. And I hope that won't be the end, that this new spirit of enterprise, of adventure, will continue in this country, because I believe that with the restructuring, with the renewal that we have seen in Britain, we should be in perhaps the best position to lead Europe at the beginning of the next century to the tremendous position in world affairs of which she is worthy by her past, and it is our task to make it worthy by her actions today, and into the future. [end p2]
So, many congratulations. We wish this project well. We shall keep an eye on it with the greatest possible interest. And we will hope to be here in seven years time to celebrate its completion [laughter and applause].
Paul Reichmann
… with pleasure. Please accept this gift with our respect. Thank you, Prime Minister.
MT
Thank you very much [applause].