Trump in the US, Milei in Argentina, Meloni in Italy, Modi in India, Netanyahu in Israel, Putin in Russia, Erdoğan in Turkey… There is no doubt that we are seeing a global consolidation of nationalism and the populist right. In the UK, this is characterised by the electoral successes of parties like Reform UK and Restore Britain, billionaire donations, mass street mobilisations, the mushrooming of smaller but more radical local groups, and even the return of race riots. In order to be able to politically respond to this phenomenon, we need to first understand why it is happening now.