It will work for a while - I've done it myself, but a ride with CCer Calum earlier in the year was spoiled when his fake rim tape split and shrivelled repeatedly causing multiple punctures. It's one area where I wouldn't bother trying to save money.it will work - probably need to go round twice though
I've been using 2 layers of regular plastic insulating tape on all of mine and my families bikes for nearly 30 years and never had a single problem due to it.
Use with confidence.
If you're out of bike grease, Vaseline works a treat too.
Saves a couple of quid for a tight budgeted build
hmmmm Duct tape over the electrical tape?