Countries that nationalise things get hit with what economists call "sovereign risk". The risk that IF you do well in business, the government will steal it from you, while if you do badly, they will let you fail.

Countries with a high level of sovereign risk risk end up like Zimbabwe.

Countries with even a small level have to jack-up their currency to pay the extra risk premium that investors require - higher interest rates and higher inflation,k combined with less investment and stock market stagnation or backsliding.

Everybody suffers, and only a small temporary gain is made. Usually, this wasted in something as silly as printing cheques for every taxpayer - basically, printing more money and throwing it into the air...