In Jubilee, Queen Elizabeth I (Runacre) is transported forward in time by the occultist John Dee (Richard O'Brien) through the spirit guide Ariel (a character from Shakespeare's The Tempest). Elizabeth arrives in the shattered Britain of the 1970s. Queen Elizabeth II is dead, killed in an arbitrary mugging, and Elizabeth I moves through the social and physical decay of the city observing the activities of a group of sporadic nihilists, including Amyl Nitrite (Jordan), Bod (Runacre in a dual role), Chaos (Hermine Demoriane), Crabs (Nell Campbell), and Mad (Toyah Willcox).
Numerous punk icons appear in the film including Jordan (a Malcolm McLaren protégé), Toyah Willcox, Nell Campbell, Adam Ant (born, Stuart Leslie Goddard), Demoriane and Wayne County. It features performances by Wayne County and Adam and the Ants. There are also cameo appearances by The Slits and Siouxsie and the Banshees. The film was scored by Brian Eno.