Plausibility Check: Federated British Empire

How plausible is it that, in a last ditch effort to save their empire, the British decide to federate the Commonwealth/Empire based off of the Canadian or Australian model?
 
It's not difficult to imagine free trade area etc EU styled but not one superstate; they would need independance and home rule rather than rights as a state. Read Rule Britannia
 

ninebucks

Banned
The Commonwealth is not a viable alternative to the EEC, its all too far away and too economically diverse.
 
The Commonwealth is not a viable alternative to the EEC, its all too far away and too economically diverse.

Not at its proposed founding (1910's-1920's) Britain has the factories and the colonies the raw materials, if Britain then uses the wealth to streamline the Commonwealth it could work
 
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