I don't think any country, including countries like Spain who have a far worse infection rate than the UK at the moment, is seriously considering another total lockdown, but regional ones are possible. Not sure how effective that is in comparison, but I don't think any economy can afford to have a total dip like March-June again this year, particularly around Christmas time when 3/4 of the yearly spend happens.
The admission rates are far lower now even if the infection rate is high because the average age of the infected now is much lower than back in March and they generally don't need hospitalization from the virus - back in March people were mainly tested only when they were admitted to hospital so the numbers went hand in hand.