How Britain might cushion a 1920s American market crash

What could Britain do in the 1920s to reduce the effects of an American stock-market collapse?

Invest in infrastructure, avoid the gold standard, and build a protected pension fund with contributions from workers, employers and government, partly invested in strategic industries.

The proposed response combines infrastructure investment, avoiding the gold standard, and a national pension investment fund. Workers would contribute through National Insurance, potentially matched by employers and government. Half the fund would be invested in industries judged strategically necessary to Britain, with administration through the Bank of England. Half its annual profits would go to pensioners and half would be reinvested. Protection from government raiding is a condition of the proposal. This is an imagined alternative policy, offered as a way to support strategic industry and accumulate pension assets over time.