Looking away from the fact that what they want isn't actually achievable, what does the UK risk by beginning to go down this road? What consequences could this

Looking away from the fact that what they want isn't actually achievable, what does the UK risk by beginning to go down this road? What consequences could this potentially have for their domestic tech sector? My intuition says that they stand to lose more than they could possibly gain, but I'm curious to hear a more knowledgeable perspective.