The effects of a 1924 Labour Majority Government?

In 1924 a Labour Minority Government lead by Ramsay MacDonald would last for 9 months before being defeated by the Conservatives in a General Election.

Now I was wondering say that Labour somehow won a small majority in 1924 allowing them to rule until per say 1928 what would the effects of that be?

I doubt there would be Nationalisation efforts or a Welfare state like what occurred in the aftermath of the 1945 since one of the aims of the 1924 Government was to quell peoples fears of Labour as some kind Communist organisation in disguise but they could implement some socialist ideas in dealing with the unemployment rate in the UK after the War and also I could see the 1926 General Strike being handled different or not occurring.

What are your thoughts?
 
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