This paper seeks to understand whether the global financial crisis — and the subsequent, alleged, crisis of the City of London — is likely to modify the relationship between the industrial and the financial components of the British capitalist elite and put an end to British ‘exceptionalism’. I argue that the crisis mostly impacted on the labour force of the British and global financial sector and produced a restructuring that consolidated and enhanced the political economy relevance of the City of London. By no means did the crisis resut in a decrease of the hegemonic power of the City of London. Instead, it confirmed its capacity to influence the decisionmaking process of the British government in favour of its preferences.
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