An opinion piece marks the 40th anniversary of the 1986 Big Bang deregulation by blaming current Labour tax policy for the City of London's declining status as a global financial centre.

On the 40th anniversary of the October 27, 1986 Big Bang, commentator Liam Halligan argues Chancellor John Healey's Budget will further damage the City of London, whose share of global IPOs has fallen from 1st in 2006 to 23rd today, behind Mexico and Oman, as firms like Arm Holdings list on Nasdaq instead.