Just under fifty years ago, Britain faced a government spending and debt crisis that forced the Labour Party government to take out loans from the International Monetary Fund. That crisis and humiliation paved the way for Margaret Thatcher’s historic election in 1979.

Will history repeat itself?

A spending and borrowing spree has created a $70 billion black hole in Britain’s budget, and it looks as if Labour will raise taxes this fall and risk plunging the country into “stagflation.”

Jagjit Chadha, until recently head of the National Institute for Economic and Social Research, says the financial situation is “as perilous as the period leading up to the IMF loan of 1976… We will not be able to roll over debt, we will not be able to meet pensions payments, benefits will be hard to pay out.”

The Brits desperately need a Trumpian anti-big government revolution, and it may be coming soon.