{
  "id": 16731853,
  "title": "City grandees call for revival of ‘animal spirits’ on Big Bang anniversary",
  "url": "https://urgent.news/2026/10/27/city-grandees-call-for-revival-of-animal-spirits-on-big-bang",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-27T09:37:47.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/city-grandees-call-for-revival-of-animal-spirits-on-big-bang-anniversary/"
  },
  "original_language": "en",
  "account": "On the 40th anniversary of the Big Bang, London's city leaders are urging the government to reignite the capital's \"animal spirits\" and accelerate regulatory reform. Miles Celic, chief executive of TheCityUK, emphasized that complacency is the most dangerous thing an international financial center can indulge in. The Big Bang, implemented in 1986, dismantled fixed commissions, ended the divide between brokers and jobbers, and opened London's trading floors to foreign banks and screen-based electronic dealing. Since then, the City has enjoyed success, but now faces threats due to a downturn in public equity investment and firms relocating away from the London Stock Exchange. Industry leaders argue that reform should be viewed as a continuous journey rather than a series of iterations. Labour's new government, led by Rachel Reeves, has promised to reinvigorate the City by scrapping burdensome regulation, but domestic investors are being incentivized to back UK listed stocks. Stacey Parsons, managing director at Retail Book, stressed the need for confidence and stability, treating UK capital markets as national infrastructure. The London Stock Exchange has seen a decrease in new IPOs and an increase in delistings and foreign takeovers. Despite the challenges, the exchange's CEO, Julia Hoggett, highlighted the continuous innovation needed to support ambitious companies and investors. The government's 2025 Budget included a stamp duty holiday for newly-listed companies, but industry leaders urge further tax incentives to boost investment. As John Healey prepares for his maiden Budget, shadow Chancellor Andrew Griffith urged the Chancellor to remember that when the City wins, so does Britain.",
  "summary": "City grandees have called on the government to revive “animal spirits” in London’s capital markets and accelerate regulatory reform on the anniversary of the Big Bang. Industry leaders told City AM the City has enjoyed decades of success since the sweeping deregulation of the Square Mile in 1986 but Britain’s financial services industry is now [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}