Ideally of course, a government would 'level-up' without stifling entrepreneurs, business and investment.
The first requirement would be a government that actually wanted to do that.
I'm not an economist (patently obvious) and have no idea how any government could balance such an act - but I sure as heck don't believe this current one has the slightest interest nor intent in that direction. They appear for the most part to be a bunch of self-serving, sometimes incompetent, individuals.
How Labour would perform under Starmer is anyone's guess. I don't think he's a 'leftie' in the traditional, working-class, sense, and some people think he's shrewd. But rather him than me - if he forms the next government, he's going to have a heck of a job on his hands - and he's going to have to run with both hares and hounds to a large extent (IMO).