Organizers said up to 500,000 people participated in the march, whose carnival-like atmosphere was briefly marred by black-clad anarchists who smashed a few shop windows, flung paint bombs and attacked luxury icons such as the Ritz Hotel.
In Hyde Park, the leader of the opposition Labor Party ridiculed Prime Minister David Cameron's vision of a "Big Society" full of citizen volunteers who plug the holes left by cuts in government spending.
"You wanted to create a Big Society. This is the Big Society, the big society united against what your government is doing to our country," Ed Miliband said in a speech that invoked Martin Luther King Jr. and the American civil rights movement. "We stand today not for the minority. We stand today for the mainstream majority of Britain."
The Labor Party, which was kicked out by voters in May after 13 years in power, acknowledges that some cuts are unavoidable to shrink a deficit built up largely under its watch. But it says the scale and pace of the austerity plan put forward by the Conservative Party-led government will strangle Britain's fledgling economic recovery and hurt the most vulnerable members of society.