Simplify the following text for a Grade 14 native English-speaking person.
Original: Their demand for the nationalisation of the one hundred and fifty top British companies and their longstanding practice of running in elections has led some critics to label them as reformists though the party insists that their method is based on Trotsky 's Transitional Programme .
Simplified: The Socialist Party 's demand for nationalisation and its longstanding practice of running in elections , has led some critics to label the Socialist Party as reformist , though the party argues that its method is based on Trotsky 's Transitional Programme , and that this demand would lead to the socialist transformation of society , with a `` socialist plan of production ... to meet the needs of all '' whilst `` protecting our environment . ''