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decades long plan
It has taken us 40 years, ('79-'19), to get 'here', including almost 10 years of 'austerity'.
10-15 years to re-balance the economy should be possible for an energised, committed program supported across the political spectrum, (I realise this would mean running the ERG out of town).
I would start by cancelling HS2 and start HS3, Liverpool to Hull.
Cancel CrossRail2 and boost public transport in West and East Midlands.
mespilus
Sovereign wealth fund and a re-appropriation of national infrastructure from private ownership is good. As is a planned approach to a rebalancing of the economy and again, taking back control of ownership of commercial activity to prevent this polarisation of wealth, marginalisation of people, and perpetuating a lie that competition increaases efficiency (it is a massively wasteful use of resource replicating effort).
Rebuilding the secondary sector is essential as is reversing the reliance on imports for strategically vital constituents of an economy and basic security needs. Foundations are required which are skill, education based so it requires decades long plan, but there are ways to shortcut everything now and implement way faster than history would suggest.