The state is not good a running businesses, even when they had a monopoly most nationalised industries managed to make a loss. If Corbyn was ever in a position to implement his lunatic scheme it would bankrupt the country. Fortunately, most people realise this so he is unlikely to ever be in a position to command anything other than a Left-wing fringe group (though this could well be the Labour party)
It's time we realised that the state isn't in the business of running a business. Each element does not have to break even, it should provide for the people.
Those industries where genuine competition isn't possible should be nationalised. Currently that means the railways - which are not in competition, they're in multiple parallel monopolies - the telecommunications industry (the nations internet and phone infrastructure are still a monopoly) and water (again, parallel monopolies).
The gas industry needs renationalising, but electricity perhaps not: the current situation where the distribution network is nationalised but the generation is open to competition works reasonably well, the issue that needs addressing is the preposterous 5-year blocks that permits are issued in precludes long-term investment which favours the existing dirty technologies.
Overall we need to keep spending under control, but that requires a populace that gives up on the 'low tax, small government' model that only serves those who aren't worried about taxation in the first place.
If I could convince Mrs O. that snow wasn't that bad I'd be emigrating to Scandinavia pretty much as soon as I could.
O.