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This is the Midgetoy MG Sports Car in green.
It is a one piece casting with all detail such as bumpers, lights, body lines and trim, doors, steering wheel, seats, etc., cast into the metal. There is no glazing or base to the model. On the under-side the model carries the legend "Midgetoy, Rockford Ill., U.S.A" cast on 3 lines under the bonnet and "Pat., 2775847" 1 cast under the luggage compartment.
All wheels are of a solid black plastic hub and tyre type. The steel axles appear to have been pressure fitted to the wheels and are held in place by being pinch clamped to cast slots on the body on the inside of the casting.
I do not know when this item was issued but believe it to have been circa 1970s. Assuming it is a 1948 MG, it has an approximate scale of 1:49 as the MG had a length of 139.5 inches (3.543 metres) and the model is 72mm in length (3543/72 = 49.2).
1 Refer to https://patents.google.com/patent/US2775847A/en for full details.