The editor of London’s Evening Standard is feeling his oats. George Osborne was Chancellor of the Exchequer until last June’s Brexit referendum, when prime minister David Cameron left office after his support for the “Remain” campaign. When Theresa May acceded to the leadership, Mr. Osborne felt the bristles of the new broom.

Mr. Osborne landed the Standard editorship last month, and promptly started using his new perch to cast aspersions upon the Conservative Government of which he had once been a central figure. Last week, in the wake of Mrs. May’s humiliation at the polls, Mr. Osborne called her a “dead woman walking.” His latest is an editorial arguing that “this is no time to ditch fiscal responsibility.”

You don’t say. When Mr. Cameron came to power at the head of a coalition government in 2010, his Treasury officials found a letter left them by the outgoing Labor chief secretary, Liam Byrne: “I’m afraid there is no money.” Seven years on — two with a majority Conservative government — there still isn’t any money.

Fiscal hawks will lament that the British deficit and debt are, respectively, a staggering £50 billion and £1,700 billion. Even with the wind at its back, the Tory government failed to do little more than slow the growth of government and hope that better economic conditions — investment, entrepreneurship, and growth — would swell Treasury coffers. The deficit declines accordingly, but the debt continues its upward climb.

Meanwhile, the path to Brexit grows ever murkier. While key cabinet figures remain in place, two staunch supporters of a “hard” exit left their posts last week. They are a Tory MP, David Jones, and a Conservative peer, George Bridges, who earlier this year steered enabling legislation through the Lords.

Brexiteers take heart, however, that Wycombe MP Steve Baker is a late addition to the team. He is an advocate of Austrian School economics and of limited government more generally, both welcome credentials in political spheres where Keynesian and welfare economics still reign.

And none too soon either. Mrs. May’s co-chiefs of staff, Nick Timothy and Fiona Hill, who resigned at the weekend following their management of the campaign that saw the Conservative majority reduced to a hung Parliament, have been replaced by a defeated MP, Gavin Barwell, who told the BBC that “austerity and Brexit” cost the Tories the election.

That is by far the worst lesson for Conservatives to learn. It gives further credence to my reckoning that Mrs. May should unleash her Brexit ministers to free Great Britain from EU impediments that restrict trade with the wider world, pit worker rights against the rights of entrepreneurial capital, permit unrestricted and thus such unrealistic levels of immigration as can’t be assimilated, and frustrate the innovative marketplace with regulatory red tape.

This is also a cautionary tale for America’s Mr. Brexit, President Trump. Following Thursday’s electoral debacle Britain, the Sun took it as a “warning to Mr. Trump against failing to deliver on for what the voters asked.” Free-market conservatives must contend with the “wets” in their parliamentary caucus and on the opposition benches, much as this “America First” administration has its ideological saboteurs in Congress.

Jeremy Corbyn’s Labor, meantime, now will harry the government the way President Trump is harried “by a leftist in the ilk of Senator Bernie Sanders” — as the Sun counts Mr. Corbyn’s stateside counterpart.

Hope in America and Britain to break their statist bonds and regain the freedom of independence slumbers no more. “It is more important than ever that the Government provides the anchor of a long-term economic approach,” Osborne editorialized. “There are worrying signs that Mrs. May is considering abandoning that long-term approach. Talk of ‘an end to austerity’ is code for ‘we’re going to allow the deficit to rise, and we don’t care.’” So our forbearance for temporizing politicians is at an end.