Britain could look back "with measured pride" on the history of the past 50 years, the Queen said in her Golden Jubilee speech at the Guildhall, following the thanksgiving service in St Paul's Cathedral, yesterday.

''It has been a pretty remarkable 50 years by any standards. There have been ups and downs, but anyone who can remember what things were like after those six long years of war, appreciates what immense changes have been achieved since then," she said.

''Not everyone has been able to benefit from the growth of wealth and prosperity, but it has not been for the lack of political will. I think we can look back with measured pride on the history of the last 50 years."

Of her jubilee tour, she said she and Prince Philip had been "overwhelmed by the crowds waiting for us and deeply moved by the warmth of their welcome".

She said: "I hope that these celebrations will remind us of our shared heritage and what it means to be a united people, enjoying the support of families, friends and neighbours around us."

She went on to comment on the strength she had drawn from the support of Prince Philip, their children and all their family.

''Gratitude, respect and pride, these words sum up how I feel about the people of this country and the Commonwealth and what this Golden Jubilee means to me.''

In response, Prime Minister Tony Blair commented on the changes that had taken place since 1952 and how the Queen had retained the affection of the British people.

"As a lady put it to me at a street party in the village of Trimdon, in County Durham, yesterday: 'We don't just respect her, we love her'," he said.

Mr Blair said it was a remarkable achievement that the Queen had adapted the Monarchy successfully to the modern world.

''You have been stoic in the face of adversity and that has been a trial in an age of 24-hour-a-day media scrutiny.

''And you have been a unifying force whilst around you there has been immense constitutional and cultural change."

He said: ''Deference may be inherited, but affection is earned and the affection this country feels for you is real. So, if I could put it this way, ma'am, it is not only the quantity of your reign we are celebrating today, it is the quality.

"For 50 years of commitment to service to the British nation we are profoundly grateful to you, and to the Royal Family.