Thousands have massed outside of the Bank of England for a march to protest against British government austerity programs and spending cuts.

Saturday's march from the financial district to Parliament Square is intended to be peaceful, but demonstrators are angry at public sector cuts meant to address government deficits, which ballooned after Britain rescued troubled banks during the 2008 financial crisis. Demonstrators argue the public is being punished for a crisis it did not cause.

Sam Fairbairn of the People's Assembly, which is organizing the event, says the march will be the start of a nationwide campaign of protest, strikes and civil disobedience.