We use the expression it’s (high) time + subject + past verb form to say that something is already late and it should be done now.
It’s high time = It’s high time you got those shoes mended. The heel will fall off.
It’s time = It’s time you got those shoes mended. They may come apart. (This pattern shows a little less urgency.)
It is high time that we got rid of that old car.
It is high time that we got on with the actual business.
It is time that we got even with Susanne.
Gosh! It’s almost dark. It’s time we left this place.
It is high time that we severed all links with that company.
It is time you got a bit hard on children.
It is time you started your own business.
It’s time with a verb in the to-infinitive form can also denote the speaker and the listener together.
It’s time to marry her off to any man who came along. She’s already 35. (= It’s time we (parents) marry her off ….)