Capitalism always turns to authoritarianism once the rich can't maintain their power within the bounds of reasonable laws. The UK was rich for many reasons in the past, but most recently because the City of London was the EU's money laundering haven for people who got money legitimately (what's the name for this?) until they left the EU.

The spice/money must flow. Making money selling addictive products like smartphones? Probably the least bad way it can be made to flow. When that sort of thing breaks down, the rich run down the list: increasing taxes (except their own), culling the poor, outright seizing property, etc.