The core idea is supported: UK financial liberalisation in the 1970s and 1980s did remove several concrete restraints on banks. The Bank of England records the abolition of direct credit controls in 1971, the ‘corset’ in 1980, exchange controls in 1979, and Big Bang’s abolition of fixed minimum commissions and single-capacity trading in 1986; another Bank of England paper says these steps opened the banking sector and formalised relaxed rules on mortgages and building societies. (bankofengland.co.uk) But “good” is a value judgment, and the phrase “some good basic rules” is too vague to verify precisely as a factual claim. Sources: Bank of England ("Evolution of the UK banking system", "Financial Stability Review, Autumn 1998", "Consumer credit conditions in the UK"); House of Commons Treasury Committee ("Banking Crisis: dealing with the failure of the UK banks").