We recall the Winter of discontent, and British Rail was not that great a service, the Post Office was in charge of the telephone exchange, public services were not efficient with the state running things. The state does not know how to operate a business efficiently in the UK. Competition raised the standards for the former public monopolies, they needed an economic kick up the backside.
Most of us don't. To 'recall' I'm assuming you'll be say 12 in 1978, so born in 1966. That means you'll be over 50 now. There's about 27 million people between 18 and 50. 21 million over 50.
I certainly agree with your point, but there's a lot of young idealistic downtrodden people who have the vote. I don't think there's enough to top the balance to socialism, especially given the tendency for youth not to vote, but another decade and it really will have passed into history.