coalition

No because we dont owe the money in the first place. It was printed out of nothing and given to the banks to lend back to us , its called FIAT currency and this particular example is fraudulant.
Until we say "no" like iceland have and stop going along with their scams and legitimising their false reality by believing them we will be their wage/debt slaves , unfortunatly most people have been decieved into thinking it was all a mistake that just accidently benifited the banks. We are being sold down the river as slaves and need to realise that.

We are stark raving bonkers when it comes to whom we allow to control England's finances.

This political game is called 'Yo Yo' financial regulating. After the secondary bank crash it was decided that the BOE was not a fit bank regulator so, bank regulation was taken away from BOE and, you guessed it, set up at the FSA. Now, its buggins turn again, the BOE, with a massive past history of failed bank regulation, is taking regulation over from the corrupt failure the FSA.
What is clear is that politicians are not capable of managing our countries finances and we need to remove from them all control of the Treasury. A Treasury Commission should regulate all political spending. As matters stand at this time we are always being defrauded by the politicians, and we already know that they are conmen: their lies are broadcast in the media every day.