This is a decent analogy, but ignores the practicality of the situation.

How exactly do you get the UK electorate to support this, there really isn’t any benefit to them, it’s just like throwing money into a bonfire. Besides it’s not like the UK economy is currently doing that well, and given that, it’s unrealistic for anyone to support the government just taking more money away intentionally. You’re basically begging for a far-right populist to come in just because they say this is a terrible idea, which is in and of itself the primary reason why it’s a terrible idea.