For some obscure reason we in the UK celebrate the failure of the Gunpowder Plot to blow up King James I and his Parliament on 5 November 1605. The plotters wanted a return to Roman Catholicism. So they would have been about half right (IMHO).
Gunpowder Plot

We always call it 'bonfire night' up here in Yorkshire. I think it's probably more about a chance to play with fire and fireworks these days that a serious anti-Catholic celebration or a thanksgiving for the preservation of a (pretty useless) King. Perhaps it invokes some dim folk memory of Celtic fire festivals.