Can I use past tense in "now that" clause? [duplicate]
I am a US speaker—my native dialect is southern—and Mr. Corbyn employs this construction in the only way familiar to me, with the verb in its past form:
It's time we went home.
It's time we were going.
I cannot recall ever encountering this with a present-form verb, although a version with a marked infinitive is common:
It's time to go home.
It's time to be going.
"It’s time + subject + past verb form" can be used to refer to the present moment, which is the case here I think.