For UK politicians (and their followers) that support revolutionary uprisings against their domestic governments across every continent, Venezuela is a bit of a wannabe ‘revolutionaries’ dilemma, as the oppressive President Madura was their hero (the previous President Chavez’s) chosen successor, so to denounce Madura would be to denounce their much-lauded Venezuelan ‘big state’ model AND the man who implemented it.
May 2017; “Venezuela is collapsing into socialist induced chaos, yet it remains a Corbynista poster child”
“Chávez forcefully nationalised more than 1,150 companies, including the oil industry, public utilities, and many banks. Their productivity has duly collapsed. Today, nationalisation is a dirty word in Venezuela and the people are clamouring for these industries to be privatised again.”
“With all this, Chávez quickly became the socialist darling of Jeremy Corbyn, John McDonnell, Diane Abbott and Ken Livingstone. Livingstone even invited him to Westminster. He gave a speech in which he said he fully identified with Labour’s traditions. He added that there is no Third Way between socialism and capitalism, and the only way forward for humanity is socialism.”
Now who would have thought that an economic model of an overly large State with corruption and inefficiencies, de-emphasising their wealth creating private sector, run by an autocrat and his apparatchiks - would have ended up an economic basket case with the poor poorer than they were – I mean, its not as if there are examples of similar ideologies going boobs up during the 20th century (also killing the academics to silence dissent) to learn from, now is there, like a Mao’s China? 
So its perfectly understandable when such a sound, moral crusade of an ideology that is meant to make everyone equal goes wrong in making everyone as dirt poor as each other, it always HAS to be someone else’s fault - and they have to go ‘up against’ the wall’, so Mr Livingstone is just giving us his logical ‘solution’.