^^^
Gee, didn't they try that awhile back? Like, the 1950s. Labour on a roll...they sold Socialism as, continuing the wartime program of rationing and free medical care for all, through the rebuilding and recovery. Meaning, of course, permanently.
In 1948, Britain, although deeply damaged from the war, had a strong industrial base. They exported coal. They had shipyards. Their motor industry was arguably the best in Europe - especially since Germany was in ruins and under Occupation.
It was so outstanding, in fact, that Nissan, trying to re-orient their business to manufacture of private autos, something they had never done...they approached Austin, asking to license and build engines to Austin design.
And Austin directors assented - magnanimously. They spoke with pity of the poor little Japanese businessmen, humbly groveling that they be allowed blueprints and rights to manufacture.
The Austin engine lasted longer with Nissan than did Austin...Nissan updated it into the 1980s; Austin got folded into the British Motor Company merger, and then merged with Leyland, makers of trucks and buses. The resulting mish-mash was the British Labourites' Penn Central moment - the company bankrupted; the Labour government took it over, and for 14 years they produced increasingly obsoleted, low-quality product, with costs out of control. Any effort to bring costs down or rationalize manufacture was met with union threats - which of course the Labour Party asceded to.
Meantime, John, Paul, George and Ringo all came over to the Colonies - and sang about The Tax Man. Remember that?
It took Margaret Thatcher to un-screw-up the Labour mess, and she was only partly successful. AND as a result, MOST British industry wound up owned by foreign interests. There was little option - it was, sell it to foreign businesses that weren't bankrupted, or just close down.
They have to revisit that wonderful time, I guess.