I am not one for predictions, but we'll need all the stubborn optimism we can muster to navigate a stable course on the economy (given the precarious international position) and deliver on our social reforms (from controlled immigration and welfare reform to elected police commissioners). A bit like decorating, sometimes the task seems overwhelming, but you have to get on with it, do your level best and see it through.

There will be some rays of sunshine next year: the Queen's jubilee and the Olympics. We'll need to take on board some of the stoicism and tenacity that both events symbolise in order to weather the storms of 2012. If we do, I have no doubt that Britain is up to the challenges that lie ahead. I wish you a very happy new year!