I'm confused by all this. He wants to use government bonds to buy these private companies, and claims it's 'zero cost' because these companies are profitable. Ok, fair enough, standard nationalism.

But he also wants to turn them into co-operatives meaning the profits would be under the control of the workers and are therefore unlikely to end up in government coffers. In which case, the state is going to chip in hundreds of billions of pounds just to gift these industries to their employees for nothing in return. Or would this just be formulated as a loan to the co-operatives, meaning these new co-operatives would have to find a way to pay off the initial investment (billions upon billions of pounds), thereby starting them off with a huge debt burden, and putting a tax-payer investment in the hands of people (the employees) who may not be particularly business savvy.