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srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Margaret_Thatcher_%281983%29.jpg/113px-Margaret_Thatcher_%281983%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Margaret_Thatcher_%281983%29.jpg/150px-Margaret_Thatcher_%281983%29.jpg 2x" data-file-width="2444" data-file-height="3259" /></a></span></td> <td class="sidebar-person-title" style="background-color:#0087DC;color: #FFF;"><div><span class="tmp-color" style="color: #FFF">This article is part of <br />a series about</span></div><span class="vcard"><span class="fn"><a href="/wiki/Margaret_Thatcher" title="Margaret Thatcher"><span class="tmpl-colored-link" style="color: #FFF; text-decoration: inherit;">Margaret Thatcher</span></a></span></span></td> </tr></tbody></table></th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Bibliography_of_Margaret_Thatcher" title="Bibliography of Margaret Thatcher">Bibliography</a></li> <li><a href="/wiki/Electoral_history_of_Margaret_Thatcher" title="Electoral history of Margaret Thatcher">Electoral history</a></li> <li><a href="/wiki/List_of_honours_of_Margaret_Thatcher" class="mw-redirect" title="List of honours of Margaret Thatcher">Honours</a></li> <li><a href="/wiki/Finchley_(UK_Parliament_constituency)" title="Finchley (UK Parliament constituency)">MP for Finchley</a></li></ul> <hr /> <ul><li><a href="/wiki/Public_Bodies_(Admission_to_Meetings)_Act_1960" title="Public Bodies (Admission to Meetings) Act 1960">Public Bodies (Admission to Meetings) Act</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;font-size:85%;">Secretary of State for Education and Science</div> <ul><li><a href="/wiki/Circular_10/70" title="Circular 10/70">Circular 10/70</a></li> <li><a href="/wiki/Education_Act_1944#School_meals_and_milk" title="Education Act 1944">Withdrawal of school milk</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;font-size:85%;">Leader of the Opposition</div> <ul><li><a href="/wiki/Shadow_Cabinet_of_Margaret_Thatcher" title="Shadow Cabinet of Margaret Thatcher">Shadow Cabinet</a> <ul><li><a href="/wiki/1975_Conservative_Party_leadership_election" title="1975 Conservative Party leadership election">1975 leadership election</a></li></ul></li> <li><a href="/wiki/1979_vote_of_no_confidence_in_the_Callaghan_ministry" title="1979 vote of no confidence in the Callaghan ministry">1979 VoNC in Callaghan ministry</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Prime Minister of the United Kingdom</div> <ul><li><a href="/wiki/Premiership_of_Margaret_Thatcher" title="Premiership of Margaret Thatcher">Premiership</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Policies</div> <ul><li><a href="/wiki/Thatcherism" title="Thatcherism">Thatcherism</a> <ul><li><a href="/wiki/Social_history_of_the_United_Kingdom_(1979%E2%80%93present)#Thatcher's_Britain" title="Social history of the United Kingdom (1979–present)">domestic</a></li> <li><a href="/wiki/Economic_history_of_the_United_Kingdom#1979–1990:_the_Thatcher_era" title="Economic history of the United Kingdom">economic</a></li> <li><a href="/wiki/Political_history_of_the_United_Kingdom_(1979%E2%80%93present)#Margaret_Thatcher_(1979–90)" title="Political history of the United Kingdom (1979–present)">other</a></li></ul></li></ul> <div style="font-weight: bold;line-height:normal;">Appointments</div> <ul><li><a href="/wiki/List_of_ministers_under_Margaret_Thatcher" title="List of ministers under Margaret Thatcher">Ministers</a> <ul><li><a href="/wiki/Wets_and_dries" title="Wets and dries">wets and dries</a></li></ul></li></ul> <hr /> Articles by ministry and term:<div class="mw-collapsible mw-collapsed" style="line-height:normal;"> <div style="font-weight:bold;margin:0 4em;">1979–1983</div> <div class="mw-collapsible-content" style="line-height:16px;"> <ul><li><a href="/wiki/First_Thatcher_ministry" title="First Thatcher ministry">First ministry</a> <ul><li><a href="/wiki/1979_United_Kingdom_general_election" title="1979 United Kingdom general election">1979 election</a></li></ul></li> <li><a href="/wiki/The_lady%27s_not_for_turning" title="The lady's not for turning">"The lady's not for turning"</a></li> <li><a href="/wiki/There_is_no_alternative" title="There is no alternative">"TINA"</a></li> <li><a href="/wiki/June_1979_United_Kingdom_budget" title="June 1979 United Kingdom budget">1979 budget</a></li> <li><a href="/wiki/1980_United_Kingdom_budget" title="1980 United Kingdom budget">1980 budget</a></li> <li><a href="/wiki/1981_United_Kingdom_budget" title="1981 United Kingdom budget">1981 budget</a></li> <li><a href="/wiki/1982_United_Kingdom_budget" title="1982 United Kingdom budget">1982 budget</a></li> <li><a href="/wiki/1983_United_Kingdom_budget" title="1983 United Kingdom budget">1983 budget</a></li> <li><a href="/wiki/Falklands_War" title="Falklands War">Falklands War</a></li> <li><a href="/wiki/Right_to_Buy#Thatcher_policies" title="Right to Buy">Right to Buy</a></li></ul> </div></div> <div class="mw-collapsible mw-collapsed" style="line-height:normal;"> <div style="font-weight:bold;margin:0 4em;">1983–1987</div> <div class="mw-collapsible-content" style="line-height:16px;"> <ul><li><a href="/wiki/Second_Thatcher_ministry" title="Second Thatcher ministry">Second ministry</a> <ul><li><a href="/wiki/1983_United_Kingdom_general_election" title="1983 United Kingdom general election">1983 re-election</a></li></ul></li> <li><a href="/wiki/1984_United_Kingdom_budget" title="1984 United Kingdom budget">1984 budget</a></li> <li><a href="/wiki/1985_United_Kingdom_budget" title="1985 United Kingdom budget">1985 budget</a></li> <li><a href="/wiki/1986_United_Kingdom_budget" title="1986 United Kingdom budget">1986 budget</a></li> <li><a href="/wiki/1987_United_Kingdom_budget" title="1987 United Kingdom budget">1987 budget</a></li> <li><a href="/wiki/Anglo-Irish_Agreement" title="Anglo-Irish Agreement">Anglo-Irish Agreement</a></li> <li><a class="mw-selflink selflink">Big Bang</a></li> <li><a href="/wiki/Brighton_hotel_bombing" title="Brighton hotel bombing">Brighton bombing</a></li> <li><a href="/wiki/Sino-British_Joint_Declaration" title="Sino-British Joint Declaration">Joint Declaration</a></li> <li><a href="/wiki/1984%E2%80%931985_United_Kingdom_miners%27_strike" title="1984–1985 United Kingdom miners' strike">Miners' strike</a></li> <li><a href="/wiki/UK_rebate" title="UK rebate">UK rebate</a></li> <li><a href="/wiki/Westland_affair" title="Westland affair">Westland affair</a></li></ul> </div></div> <div class="mw-collapsible mw-collapsed" style="line-height:normal;"> <div style="font-weight:bold;margin:0 4em;">1987–1990</div> <div class="mw-collapsible-content" style="line-height:16px;"> <ul><li><a href="/wiki/Third_Thatcher_ministry" title="Third Thatcher ministry">Third ministry</a> <ul><li><a href="/wiki/1987_United_Kingdom_general_election" title="1987 United Kingdom general election">1987 re-election</a></li></ul></li> <li><a href="/wiki/1988_United_Kingdom_budget" title="1988 United Kingdom budget">1988 budget</a></li> <li><a href="/wiki/1989_United_Kingdom_budget" title="1989 United Kingdom budget">1989 budget</a></li> <li><a href="/wiki/1989_Conservative_Party_leadership_election" title="1989 Conservative Party leadership election">1989 leadership election</a></li> <li><a href="/wiki/1990_United_Kingdom_budget" title="1990 United Kingdom budget">1990 budget</a></li> <li><a href="/wiki/1990_Conservative_Party_leadership_election" title="1990 Conservative Party leadership election">1990 leadership election and resignation</a></li> <li><a href="/wiki/Bruges_speech" title="Bruges speech">Bruges speech</a></li> <li><a href="/wiki/Poll_tax_(Great_Britain)" title="Poll tax (Great Britain)">Poll tax</a></li> <li><a href="/wiki/Sermon_on_the_Mound" title="Sermon on the Mound">Sermon on the Mound</a></li></ul> </div></div> <hr /> <div style="font-weight: bold;line-height:normal;">Post-premiership</div> <ul><li><a href="/wiki/Death_and_funeral_of_Margaret_Thatcher" title="Death and funeral of Margaret Thatcher">Ceremonial funeral</a></li> <li><a href="/wiki/Margaret_Thatcher#Legacy" title="Margaret Thatcher">Legacy</a></li></ul> <hr /> <div style="font-weight: bold;line-height:normal;">Publications</div> <ul><li><a href="/wiki/The_Downing_Street_Years" title="The Downing Street Years"><i>The Downing Street Years</i> (1993)</a></li> <li><a href="/wiki/The_Path_to_Power_(Thatcher_book)" title="The Path to Power (Thatcher book)"><i>The Path to Power</i> (1995)</a></li> <li><a href="/wiki/Statecraft:_Strategies_for_a_Changing_World" title="Statecraft: Strategies for a Changing World"><i>Statecraft</i> (2003)</a></li></ul> <hr /> <div class="skin-invert-image"><span class="notpageimage" typeof="mw:File"><a href="/wiki/Margaret_Thatcher" title="Margaret Thatcher's signature"><img alt="Margaret Thatcher's signature" src="//upload.wikimedia.org/wikipedia/en/thumb/6/64/Signature_of_Margaret_Thatcher.svg/150px-Signature_of_Margaret_Thatcher.svg.png" decoding="async" width="150" height="42" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/6/64/Signature_of_Margaret_Thatcher.svg/225px-Signature_of_Margaret_Thatcher.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/6/64/Signature_of_Margaret_Thatcher.svg/300px-Signature_of_Margaret_Thatcher.svg.png 2x" data-file-width="957" data-file-height="269" /></a></span></div> <p><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg/50px-Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg.png" decoding="async" width="50" height="41" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg/75px-Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/59/Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg/100px-Royal_Coat_of_Arms_of_the_United_Kingdom_%28HM_Government%29_%28St_Edwards_Crown%29.svg.png 2x" data-file-width="1530" data-file-height="1256" /></span></span> </p> <span typeof="mw:File"><a href="/wiki/List_of_coats_of_arms_of_Prime_Ministers_of_the_United_Kingdom" title="List of coats of arms of Prime Ministers of the United Kingdom"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Arms_of_Margaret_Thatcher%2C_The_Baroness_Thatcher_%28Variant%29.svg/30px-Arms_of_Margaret_Thatcher%2C_The_Baroness_Thatcher_%28Variant%29.svg.png" decoding="async" width="30" height="36" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Arms_of_Margaret_Thatcher%2C_The_Baroness_Thatcher_%28Variant%29.svg/45px-Arms_of_Margaret_Thatcher%2C_The_Baroness_Thatcher_%28Variant%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b7/Arms_of_Margaret_Thatcher%2C_The_Baroness_Thatcher_%28Variant%29.svg/60px-Arms_of_Margaret_Thatcher%2C_The_Baroness_Thatcher_%28Variant%29.svg.png 2x" data-file-width="512" data-file-height="617" /></a></span></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Margaret_Thatcher_sidebar" title="Template:Margaret Thatcher sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Margaret_Thatcher_sidebar" title="Template talk:Margaret Thatcher sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Margaret_Thatcher_sidebar" title="Special:EditPage/Template:Margaret Thatcher sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The phrase <b>Big Bang</b>, used in reference to the sudden <a href="/wiki/Deregulation" title="Deregulation">deregulation</a> of <a href="/wiki/Financial_market" title="Financial market">financial markets</a>, was coined to describe measures, including abolition of fixed commission charges and of the distinction between <a href="/wiki/Stockjobber" title="Stockjobber">stockjobbers</a> and <a href="/wiki/Stockbroker" title="Stockbroker">stockbrokers</a> on the <a href="/wiki/London_Stock_Exchange" title="London Stock Exchange">London Stock Exchange</a> and change from <a href="/wiki/Open_outcry" title="Open outcry">open outcry</a> to screen-based <a href="/wiki/Electronic_trading" title="Electronic trading">electronic trading</a>, effected by UK Prime Minister <a href="/wiki/Margaret_Thatcher" title="Margaret Thatcher">Margaret Thatcher</a> in 1986. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Big_Bang_(financial_markets)&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Big Bang was the result of an agreement in 1983 by the Thatcher government and the London Stock Exchange to settle a wide-ranging antitrust case that had been initiated during the previous government by the <a href="/wiki/Office_of_Fair_Trading" title="Office of Fair Trading">Office of Fair Trading</a> against the London Stock Exchange under the <a href="/wiki/Restrictive_Trade_Practices_Act_1956" title="Restrictive Trade Practices Act 1956">Restrictive Trade Practices Act 1956</a>. These restrictive practices included the London Stock Exchange's rules establishing fixed minimum commissions, the "single capacity" rule (which enforced a separation between brokers acting as agents for their clients on commission and jobbers who made the markets and theoretically provided liquidity by holding lines of stocks and shares on their books), the requirement that both brokers and jobbers should be independent and not part of any wider financial group, and the stock exchange's exclusion of all foreigners from stock exchange membership.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p><p>The day the London Stock Exchange's rules changed on 27 October 1986 was dubbed "Big Bang" because of the increase in market activity expected from an aggregation of measures designed to alter the structure of the <a href="/wiki/Financial_market" title="Financial market">financial market</a>. </p><p>The effect of Big Bang led to significant changes to the structure of the financial markets in London. The changes saw many of the old firms being taken over by large banks both foreign and domestic and would lead in the following years to further changes to the <a href="/wiki/Financial_regulation" title="Financial regulation">regulatory environment</a> that would eventually lead to the creation of the <a href="/wiki/Financial_Services_Authority" title="Financial Services Authority">Financial Services Authority</a>.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Consequences">Consequences</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Big_Bang_(financial_markets)&action=edit&section=2" title="Edit section: Consequences"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The effects of Big Bang were dramatic, with London's place as a financial capital decisively strengthened, to the point where in 2006 it was arguably the world's most important financial centre.<sup id="cite_ref-20061026independent_3-0" class="reference"><a href="#cite_note-20061026independent-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Lawson_Boom" title="Lawson Boom">boom</a> resulted in the relocation of institutions into new developments in the nearby <a href="/wiki/Isle_of_Dogs" title="Isle of Dogs">Isle of Dogs</a> area, particularly that of <a href="/wiki/Canary_Wharf" title="Canary Wharf">Canary Wharf</a>. </p><p>Although the "Big Bang" eased stock market transactions there is a debate in the UK about how far it affected the <a href="/wiki/2008_financial_crisis" title="2008 financial crisis">2008 financial crisis</a>. </p><p>In 2010, <a href="/wiki/Nigel_Lawson" title="Nigel Lawson">Nigel Lawson</a>, Margaret Thatcher's <a href="/wiki/Chancellor_of_the_Exchequer" title="Chancellor of the Exchequer">Chancellor of the Exchequer</a> at the time of Big Bang, appeared on the BBC Radio Four programme <i><a href="/wiki/Analysis_(radio_programme)" title="Analysis (radio programme)">Analysis</a></i> to discuss the banking reform.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p> <blockquote><p>During the programme, Nigel Lawson is reported as having 'converted to the Glass-Steagall cause' [of separating retail banking from investment banking], due to concerns of moral hazard ("[banks] are not going to be as careful and as cautious and as prudent as they should be") and banks being 'Too Big To Fail' (at taxpayers expense, as seen during the <a href="/wiki/2007%E2%80%932008_financial_crisis" class="mw-redirect" title="2007–2008 financial crisis">2007–2008 financial crisis</a>).<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></p></blockquote> <blockquote><p>During the programme, the presenter, Edward Stourton says, "Lord Lawson isn't alone in his admission that [through the 'Big Bang'] we walked into the new banking world without really understanding the risks involved" [by ending the separation of high street banks and merchant banks].<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> Nigel Lawson muses, "I didn't give it a great deal of thought at that time. I'd taken for granted that separation, as by custom and practice we'd had that all those years (we'd always had it), but it was a completely <a href="/wiki/Unforeseen_consequence" class="mw-redirect" title="Unforeseen consequence">unforeseen consequence</a> of the stock exchange reforms"<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup>.</p></blockquote> <blockquote><p>John Reed (a former Citigroup banker) says that, “we were simply ignorant of the risks that we were getting into” (from the repeal of <a href="/wiki/Glass-Steagall_Act" class="mw-redirect" title="Glass-Steagall Act">Glass-Steagall</a> in 1999). He attributes its repeal (in the United States) as being due to his customers (“big international institutions”) wanting to issue commercial paper, instead of borrowing directly from banks,<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> as well as from the Big Bang, due to “globalised markets” and “inter-connected capital markets” making it difficult when there is one regime in London and a different one in New York<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup>.</p></blockquote> <p>In 2011 former British Prime Minister <a href="/wiki/Gordon_Brown" title="Gordon Brown">Gordon Brown</a> expressed regret at not implementing tougher regulations during his tenure of chancellor between 1997 and 2007, responding to "relentless pressure" from the City not to over-regulate. </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>We know in retrospect what we missed. We set up the Financial Services Authority (FSA) believing that the problem would come from the failure of an individual institution, so we created a monitoring system which was looking at individual institutions. That was the big mistake. </p><p>We didn't understand how risk was spread across the system, we didn't understand the entanglements of different institutions with the other and we didn't understand even though we talked about it just how global things were, including a shadow banking system as well as a banking system. </p><p> That was our mistake, but I'm afraid it was a mistake made by just about everybody who was in the regulatory business.</p><div class="templatequotecite">— <cite>Gordon Brown<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup></cite></div></blockquote> <div class="mw-heading mw-heading2"><h2 id="Similar_events">Similar events</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Big_Bang_(financial_markets)&action=edit&section=3" title="Edit section: Similar events"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Subsequent similar actions, such as the deregulation of the Japanese financial markets circa 1997, have analogously also been tagged with the phrase Big Bang.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Big_Bang_(financial_markets)&action=edit&section=4" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Wimbledon_Effect" title="Wimbledon Effect">Wimbledon Effect</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Big_Bang_(financial_markets)&action=edit&section=5" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20211015091533/https://www.cps.org.uk/files/reports/original/111028101637-20061019EconomyBigBang20YearsOn.pdf">"Big Bang 20 years on"</a> <span class="cs1-format">(PDF)</span>. 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the United Kingdom</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:center">Companies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/British_co-operative_movement" title="British co-operative movement">Co-operatives</a></li> <li><a href="/wiki/Category:Employee-owned_companies_of_the_United_Kingdom" title="Category:Employee-owned companies of the United Kingdom">Employee-owned companies</a></li> <li><a href="/wiki/FTSE_100_Index" title="FTSE 100 Index">FTSE 100 Index</a></li> <li><a href="/wiki/FTSE_250_Index" title="FTSE 250 Index">FTSE 250 Index</a></li> <li><a href="/wiki/FTSE_Fledgling_Index" title="FTSE Fledgling Index">FTSE Fledgling Index</a></li> <li><a href="/wiki/FTSE_SmallCap_Index" title="FTSE SmallCap Index">FTSE SmallCap Index</a></li> <li><a href="/wiki/Category:Government-owned_companies_of_the_United_Kingdom" title="Category:Government-owned companies of the United Kingdom">Government-owned companies</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:center">Currency,<br />governance,<br />regulation</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bank_of_England" title="Bank of England">Bank of England</a> <ul><li><a href="/wiki/Governor_of_the_Bank_of_England" title="Governor of the Bank of England">Governor of the Bank of England</a></li> <li><a href="/wiki/Monetary_Policy_Committee_(United_Kingdom)" title="Monetary Policy Committee (United Kingdom)">Monetary Policy Committee</a></li></ul></li> <li><a href="/wiki/Budget_of_the_United_Kingdom" title="Budget of the United Kingdom">Budget</a></li> <li><a href="/wiki/United_Kingdom_company_law" title="United Kingdom company law">Company law</a></li> <li><a href="/wiki/Competition_and_Markets_Authority" title="Competition and Markets Authority">Competition and Markets Authority</a></li> <li><a href="/wiki/Department_for_Business_and_Trade" title="Department for Business and Trade">Department for Business and Trade</a></li> <li><a href="/wiki/Financial_Conduct_Authority" title="Financial Conduct Authority">Financial Conduct Authority</a></li> <li><a href="/wiki/Gilt-edged_securities" title="Gilt-edged securities">Gilts</a></li> <li><a href="/wiki/HM_Revenue_%26_Customs" class="mw-redirect" title="HM Revenue & Customs">HM Revenue & Customs</a></li> <li><a href="/wiki/HM_Treasury" title="HM Treasury">HM Treasury</a> <ul><li><a href="/wiki/Chancellor_of_the_Exchequer" title="Chancellor of the Exchequer">Chancellor of the Exchequer</a></li> <li><a href="/wiki/Debt_Management_Office_(United_Kingdom)" title="Debt Management Office (United Kingdom)">Debt Management Office</a></li></ul></li> <li><a href="/wiki/Office_for_Budget_Responsibility" title="Office for Budget Responsibility">Office for Budget Responsibility</a></li> <li><a href="/wiki/Pound_sterling" title="Pound sterling">Pound sterling</a> <ul><li><a href="/wiki/Banknotes_of_the_pound_sterling" title="Banknotes of the pound sterling">Banknotes</a></li> <li><a href="/wiki/Coins_of_the_pound_sterling" title="Coins of the pound sterling">Coinage</a></li></ul></li> <li><a href="/wiki/Taxation_in_the_United_Kingdom" title="Taxation in the United Kingdom">Taxation</a></li> <li><a href="/wiki/UK_Statistics_Authority" title="UK Statistics Authority">UK Statistics Authority</a></li> <li><a href="/wiki/UK_Trade_%26_Investment" title="UK Trade & Investment">UK Trade & Investment</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:center"><a href="/wiki/Economic_history_of_the_United_Kingdom" title="Economic history of the United Kingdom">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee">Chronological</th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Navigation_Acts" title="Navigation Acts">1659–1849 Navigation Acts</a></li> <li><a href="/wiki/British_Agricultural_Revolution" title="British Agricultural Revolution">Agricultural Revolution</a></li> <li><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a></li> <li><a href="/wiki/Financial_Revolution" title="Financial Revolution">Financial Revolution</a></li> <li><a href="/wiki/Panic_of_1796%E2%80%9397" class="mw-redirect" title="Panic of 1796–97">Panic of 1796–97</a></li> <li><a href="/wiki/Corn_Laws" title="Corn Laws">1815–46 Corn Laws</a></li> <li><a href="/wiki/New_Imperialism" title="New Imperialism">New Imperialism 1830s–1945</a></li> <li><a href="/wiki/Second_Industrial_Revolution" title="Second Industrial Revolution">Second Industrial Revolution 1860s–1914</a></li> <li><a href="/wiki/Long_Depression" title="Long Depression">1873–79 Long Depression</a></li> <li><a href="/wiki/1926_United_Kingdom_general_strike" title="1926 United Kingdom general strike">1926 general strike</a></li> <li><a href="/wiki/Great_Depression_in_the_United_Kingdom" title="Great Depression in the United Kingdom">1929–39 Great Depression</a></li> <li><a href="/wiki/Marshall_Plan" title="Marshall Plan">1948–52 Marshall Plan</a></li> <li><a href="/wiki/Three-Day_Week" title="Three-Day Week">1974 Three-Day Week</a></li> <li><a href="/wiki/Winter_of_Discontent" title="Winter of Discontent">1979 Winter of Discontent</a></li> <li><a class="mw-selflink selflink">1986 Big Bang</a></li> <li><a href="/wiki/Black_Wednesday" title="Black Wednesday">1992 Black Wednesday</a></li> <li><a href="/wiki/Great_Recession_in_Europe#United_Kingdom" title="Great Recession in Europe">Late-2000s recession</a></li> <li><a href="/wiki/2008_United_Kingdom_bank_rescue_package" title="2008 United Kingdom bank rescue package">2008 bank rescue package</a></li> <li><a href="/wiki/2009_United_Kingdom_bank_rescue_package" title="2009 United Kingdom bank rescue package">2009 bank rescue package</a></li> <li><a href="/wiki/Brexit" title="Brexit">2020 Withdrawal from the European Union</a> (<a href="/wiki/Growth_deal" title="Growth deal">Growth deal</a>)</li> <li><a href="/wiki/Government_of_the_United_Kingdom%27s_financial_response_to_the_COVID-19_pandemic" class="mw-redirect" title="Government of the United Kingdom's financial response to the COVID-19 pandemic">COVID-19 pandemic</a> <ul><li><a href="/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_Kingdom" title="Economic impact of the COVID-19 pandemic in the United Kingdom">Impact</a></li></ul></li> <li><a href="/wiki/2021%E2%80%93present_United_Kingdom_cost-of-living_crisis" title="2021–present United Kingdom cost-of-living crisis">Cost-of-living crisis</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee">Recurrent</th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economic_geography_of_the_United_Kingdom" title="Economic geography of the United Kingdom">Economic geography</a></li> <li><a href="/wiki/Free_trade" title="Free trade">Free trade</a></li> <li><a href="/wiki/Gold_standard" title="Gold standard">Gold standard</a></li> <li><a href="/wiki/List_of_recessions_in_the_United_Kingdom" title="List of recessions in the United Kingdom">Recessions and recoveries</a></li> <li><a href="/wiki/National_champions" title="National champions">National champions policy</a></li> <li><a href="/wiki/Economic_liberalism" title="Economic liberalism">Economic liberalism</a></li> <li><a href="/wiki/Privatization" title="Privatization">Privatisation</a></li> <li><a href="/wiki/Nationalization#United_Kingdom" title="Nationalization">Nationalisation</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:center">Nations,<br />regions,<br />cities</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee"><a href="/wiki/Economy_of_England" title="Economy of England">England</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Atlantic_Gateway_(North_West_England)" title="Atlantic Gateway (North West England)">Atlantic Gateway</a></li> <li><a href="/wiki/Economy_of_Birmingham" title="Economy of Birmingham">Birmingham</a> <ul><li><a href="/wiki/Big_City_Plan" title="Big City Plan">Big City Plan</a></li></ul></li> <li><a href="/wiki/Economy_of_Bristol" title="Economy of Bristol">Bristol</a></li> <li><a href="/wiki/Economy_of_Cornwall" title="Economy of Cornwall">Cornwall</a></li> <li><a href="/wiki/Economy_of_the_London_Borough_of_Croydon" title="Economy of the London Borough of Croydon">Croydon</a></li> <li><a href="/wiki/Economy_of_Devon" title="Economy of Devon">Devon</a></li> <li><a href="/wiki/Economy_of_Dorset" title="Economy of Dorset">Dorset</a></li> <li><a href="/wiki/Expansion_plans_for_Milton_Keynes" title="Expansion plans for Milton Keynes">Expansion plans for Milton Keynes</a></li> <li><a href="/wiki/Fishing_industry_in_England" title="Fishing industry in England">Fishing</a></li> <li><a href="/wiki/Economy_of_Leeds" title="Economy of Leeds">Leeds</a></li> <li><a href="/wiki/List_of_ceremonial_counties_in_England_by_GDP" title="List of ceremonial counties in England by GDP">List of counties by GDP</a></li> <li><a href="/wiki/List_of_ceremonial_counties_in_England_by_gross_value_added" class="mw-redirect" title="List of ceremonial counties in England by gross value added">List of counties by GVA</a></li> <li><a href="/wiki/Economy_of_Liverpool" title="Economy of Liverpool">Liverpool</a></li> <li><a href="/wiki/Economy_of_London" title="Economy of London">London</a> <ul><li><a href="/wiki/East_London_Tech_City" title="East London Tech City">East London Tech City</a></li> <li><a href="/wiki/London_Plan" title="London Plan">London Plan</a></li></ul></li> <li><a href="/wiki/M4_corridor" title="M4 corridor">M4 corridor</a></li> <li><a href="/wiki/M11_Corridor" class="mw-redirect" title="M11 Corridor">M11 Corridor</a></li> <li><a href="/wiki/Economy_of_Manchester" title="Economy of Manchester">Manchester</a></li> <li><a href="/wiki/Economy_of_Reading,_Berkshire" title="Economy of Reading, Berkshire">Reading</a></li> <li><a href="/wiki/Economy_of_Sheffield" title="Economy of Sheffield">Sheffield</a></li> <li><a href="/wiki/Silicon_Fen" title="Silicon Fen">Silicon Fen</a></li> <li><a href="/wiki/Economy_of_Somerset" title="Economy of Somerset">Somerset</a></li> <li><a href="/wiki/Thames_Gateway" title="Thames Gateway">Thames Gateway</a></li> <li><a href="/wiki/Tourism_in_England" title="Tourism in England">Tourism</a></li> <li><a href="/wiki/Transport_in_England" title="Transport in England">Transport</a></li> <li><a href="/wiki/Economy_of_Wiltshire" title="Economy of Wiltshire">Wiltshire</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee"><a href="/wiki/Economy_of_Northern_Ireland" title="Economy of Northern Ireland">Northern<br />Ireland</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_Belfast" title="Economy of Belfast">Belfast</a></li> <li><a href="/wiki/Transport_in_Ireland" title="Transport in Ireland">Transport</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee"><a href="/wiki/Economy_of_Scotland" title="Economy of Scotland">Scotland</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_Aberdeen" title="Economy of Aberdeen">Aberdeen</a></li> <li><a href="/wiki/Agriculture_in_Scotland" title="Agriculture in Scotland">Agriculture</a></li> <li><a href="/wiki/Economy_of_Edinburgh" title="Economy of Edinburgh">Edinburgh</a></li> <li><a href="/wiki/Industrial_Revolution_in_Scotland" title="Industrial Revolution in Scotland">Industrialisation</a></li> <li><a href="/wiki/Fishing_industry_in_Scotland" title="Fishing industry in Scotland">Fishing</a></li> <li><a href="/wiki/Economic_history_of_Scotland" title="Economic history of Scotland">History</a></li> <li><a href="/wiki/Category:Oil_and_gas_industry_in_Scotland" title="Category:Oil and gas industry in Scotland">Oil and gas</a></li> <li><a href="/wiki/Renewable_energy_in_Scotland" title="Renewable energy in Scotland">Renewable energy</a></li> <li><a href="/wiki/Silicon_Glen" title="Silicon Glen">Silicon Glen</a></li> <li><a href="/wiki/Tourism_in_Scotland" title="Tourism in Scotland">Tourism</a></li> <li><a href="/wiki/Transport_in_Scotland" title="Transport in Scotland">Transport</a></li> <li><a href="/wiki/Scotch_whisky" title="Scotch whisky">Whisky</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee"><a href="/wiki/Economy_of_Wales" title="Economy of Wales">Wales</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agriculture_in_Wales" title="Agriculture in Wales">Agriculture</a></li> <li><a href="/wiki/Economy_of_Cardiff" title="Economy of Cardiff">Cardiff</a> <span style="font-size:85%;">(<a href="/wiki/Cardiff_Bay" title="Cardiff Bay">Cardiff Bay</a>)</span></li> <li><a href="/wiki/Fishing_industry_in_Wales" title="Fishing industry in Wales">Fishing</a></li> <li><a href="/wiki/Economic_history_of_Wales" title="Economic history of Wales">History</a></li> <li><a href="/wiki/Industrial_Revolution_in_Wales" title="Industrial Revolution in Wales">Industrialisation</a></li> <li><a href="/wiki/Renewable_energy_in_Wales" title="Renewable energy in Wales">Renewable energy</a></li> <li><a href="/wiki/Economy_of_Swansea" title="Economy of Swansea">Swansea</a></li> <li><a href="/wiki/Tourism_in_Wales" title="Tourism in Wales">Tourism</a></li> <li><a href="/wiki/Transport_in_Wales" title="Transport in Wales">Transport</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:center">People<br />and labour</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Category:British_billionaires" title="Category:British billionaires">Billionaires</a></li> <li><a href="/wiki/Category:British_businesspeople" title="Category:British businesspeople">Businesspeople</a></li> <li><a href="/wiki/Demographics_of_the_United_Kingdom" title="Demographics of the United Kingdom">Demography</a></li> <li><a href="/wiki/Income_in_the_United_Kingdom" title="Income in the United Kingdom">Income</a> <ul><li><a href="/wiki/Poverty_in_the_United_Kingdom" title="Poverty in the United Kingdom">Poverty</a></li></ul></li> <li><a href="/wiki/United_Kingdom_labour_law" title="United Kingdom labour law">Labour law</a> <ul><li><a href="/wiki/United_Kingdom_employment_equality_law" title="United Kingdom employment equality law">Equal opportunities</a></li> <li><a href="/wiki/National_Minimum_Wage_Act_1998" title="National Minimum Wage Act 1998">Minimum wage</a></li> <li><a href="/wiki/Working_Time_Directive_2003" title="Working Time Directive 2003">Working Time Directive</a></li></ul></li> <li><a href="/wiki/Pensions_in_the_United_Kingdom" title="Pensions in the United Kingdom">Pensions</a></li> <li><a href="/wiki/Trade_unions_in_the_United_Kingdom" title="Trade unions in the United Kingdom">Trades unions</a> <ul><li><a href="/wiki/Trades_Union_Congress" title="Trades Union Congress">Trades Union Congress</a></li></ul></li> <li><a href="/wiki/Unemployment_in_the_United_Kingdom" title="Unemployment in the United Kingdom">Unemployment</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align:center">Sectors</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee"><a href="/wiki/List_of_renewable_resources_produced_and_traded_by_the_United_Kingdom" title="List of renewable resources produced and traded by the United Kingdom">Resource and<br />production</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Energy_in_the_United_Kingdom" title="Energy in the United Kingdom">Energy</a>/<a href="/wiki/Renewable_energy_in_the_United_Kingdom" title="Renewable energy in the United Kingdom">Renewable energy</a> <ul><li><a href="/wiki/Biodiesel_in_the_United_Kingdom" class="mw-redirect" title="Biodiesel in the United Kingdom">Biodiesel</a></li> <li><a href="/wiki/Coal_mining_in_the_United_Kingdom" title="Coal mining in the United Kingdom">Coal</a></li> <li><a href="/wiki/Geothermal_power_in_the_United_Kingdom" title="Geothermal power in the United Kingdom">Geothermal</a></li> <li><a href="/wiki/Hydraulic_fracturing_in_the_United_Kingdom" class="mw-redirect" title="Hydraulic fracturing in the United Kingdom">Fracking</a></li> <li><a href="/wiki/Hydroelectricity_in_the_United_Kingdom" title="Hydroelectricity in the United Kingdom">Hydroelectricity</a></li> <li><a href="/wiki/Renewable_energy_in_the_United_Kingdom#Ocean_power" title="Renewable energy in the United Kingdom">Marine</a></li> <li><a href="/wiki/North_Sea_oil" title="North Sea oil">North Sea oil</a></li> <li><a href="/wiki/Solar_power_in_the_United_Kingdom" title="Solar power in the United Kingdom">Solar</a></li> <li><a href="/wiki/Wind_power_in_the_United_Kingdom" title="Wind power in the United Kingdom">Wind</a></li></ul></li> <li><a href="/wiki/British_cuisine" title="British cuisine">Food</a> <ul><li><a href="/wiki/Agriculture_in_the_United_Kingdom" title="Agriculture in the United Kingdom">Agriculture</a> <ul><li><a href="/wiki/Cider#United_Kingdom" title="Cider">Cider</a></li> <li><a href="/wiki/Wine_from_the_United_Kingdom" title="Wine from the United Kingdom">Wine</a></li> <li><a href="/wiki/Beer_in_the_United_Kingdom" title="Beer in the United Kingdom">Beer</a></li></ul></li> <li>Fishing <ul><li><a href="/wiki/Fishing_industry_in_England" title="Fishing industry in England">English</a></li> <li><a href="/wiki/Fishing_industry_in_Scotland" title="Fishing industry in Scotland">Scottish</a></li> <li><a href="/wiki/Fishing_industry_in_Wales" title="Fishing industry in Wales">Welsh</a></li></ul></li></ul></li> <li>Materials <ul><li><a href="/wiki/Forestry_in_the_United_Kingdom" title="Forestry in the United Kingdom">Forestry</a></li> <li><a href="/wiki/Mining_in_the_United_Kingdom" title="Mining in the United Kingdom">Mining</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:8em;text-align:left;background-color:#eee"><a href="/wiki/Financial_services_in_the_United_Kingdom" title="Financial services in the United Kingdom">Financial<br />services</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Baltic_Exchange" title="Baltic Exchange">Baltic Exchange</a></li> <li><a href="/wiki/Banking_in_the_United_Kingdom" title="Banking in the United Kingdom">Banking</a> <ul><li><a href="/wiki/List_of_banks_in_the_United_Kingdom" title="List of banks in the United Kingdom">List of banks</a></li> <li><a href="/wiki/List_of_building_societies#United_Kingdom" class="mw-redirect" title="List of building societies">List of UK building societies</a></li></ul></li> <li><a href="/wiki/Canary_Wharf" title="Canary Wharf">Canary Wharf</a></li> <li><a href="/wiki/City_of_London" title="City of London">The City</a></li> <li><a href="/wiki/Euronext#Euronext.liffe" title="Euronext">Euronext.liffe</a></li> <li><a href="/wiki/International_Financial_Services_District" title="International Financial Services District">Glasgow International Financial Services District</a></li> <li><a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">Insurance</a> <ul><li><a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's of London</a></li></ul></li> <li><a href="/wiki/LCH_(clearing_house)" title="LCH (clearing house)">LCH</a></li> <li><a href="/wiki/Libor" title="Libor">London Interbank Offered Rate</a></li> <li><a href="/wiki/London_Metal_Exchange" title="London Metal Exchange">London Metal Exchange</a></li> <li><a href="/wiki/London_Platinum_and_Palladium_Market" title="London Platinum and Palladium Market">London Platinum and Palladium Market</a></li> <li><a href="/wiki/London_Stock_Exchange" title="London Stock Exchange">London Stock Exchange</a> <ul><li><a href="/wiki/Alternative_Investment_Market" 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