Great Britain has seriously suff ered from the fi nancial and economic crisis of 2008. The British government has not been prepared to the crisis so its fi rst measures undertaken to curb fi nancial and economic turmoil were rather spontaneous and traditional. The main goal of governmental eff orts was stabilization of banking and, in a more comprehensive sense, fi nancial system of the country. By 2013 the fi nancial and economic situation in Great Britain improved but the crisis highlighted major structural problems in British economy, in particular the problems of excessive fi nancialization and deindustrialization. In order to prevent or smooth crisis phenomena in future the British government developed and started to implement the long-term program of modernization, restructuring and increasing of competitiveness of national economy.