Secular holiday : The Bank of England observed about 33 saints' days and religious festivals as holidays, but in 1834 this was reduced to four May 1 (May Day), November 1 (All Saints' Day), Good Friday and Christmas Day.
In 1871, the Bank Holidays Act 1871 was introduced. It stated that no person was compelled to make any payment or to do any act upon a bank holiday which he would not be compelled to do or make on Christmas Day or Good Friday.
100 years later the Banking and Financial Dealings Act 1971 was passed, specifying the majority of the current bank holidays, although New Year's Day and May Day were not introduced throughout the whole of the UK until 1974 and 1978. In 2020, the May Day bank holiday is set to be moved, so it can be used to commemorate the 75th anniversary of Victory in Europe Day [derbytelegraph]