The UK’s Financial Structure and Economic Sectors

Abstract

Before examining the structure and regulatory framework of banking and financial intermediation in the last fifteen years, it appeared desirable to provide an analysis — albeit with a broad sweep — of the country’s financial structure, in view of the powerful influence this exerts on the activity of intermediation. Looking at these aspects also implies mentioning some major economic and political issues that have been a feature of the United Kingdom over the years and exercised a major influence on its financial structure, especially as regards the effects of policies — some going back to the 1980s — such as the privatization process, pension reform and the deregulation of the building societies sector.