I support Kit Fang's analysis above me, with one or two modifications.
It is quite correct that those who expect a level of public service (or indeed any service) without being prepared to pay for it are bound eventually to lead to the downfall of either that public service, or indeed any other organisation or business in a similar position. Pubs are closing all the time, and there are far fewer dairy farmers than there used to be.
The problem came in 1992 when Labour Shadow Chancellor of the time, John Smith, proposed raising Income Tax in order to meet public spending commitments without relying on borrowing. The unpopular Conservative Government of John Major, with the co-operation of Murdoch and the present Chairman of the BBC Trust (actually it was the latter's idea), leapt on this with their Double Whammy campaign, which won them the election and sowed the seeds for the House of Cards to come crashing down in the next decade, when everyone thought they could have public services without paying tax. The City would provide all.
Most tragically, a generation of captains of industry grew up with this sort of economic thinking, leading to large corporations, who could and should pay for public services and the public infrastructure that enables them to trade, shifting all their money offshore, and used the competitive advantage to wipe out smaller competitors, and then reward their executives with millionaire bonuses. Public services everywhere became unviable, and are now being withdrawn, just when they are needed to kickstart the economy back to life and the rest of us back to work.
Therefore the ones to blame are all those who voted for, and supported parties that advocated lowering Income Tax and leaving open loopholes for Big Business to exploit. It seems that includes everyone that voted Conservative, Labour since the death of John Smith, and Liberal Democrat ever since The Orange Book was agreed at Party Conference, and their respective counterparts abroad who are no better.
If we were to do the world a favour and prevent that lot ever taking up public office again, it does not leave us a lot left to choose from to run the country. We have George Galloway, Nick Griffin, Caroline Lucas, Nigel Farrage and Dr Taylor. Maybe Esther Rantzen could chip in. And Engelbert Humperdinck as Culture Secretary. And even some of them might support cuts in Income Tax and therefore disqualify themselves.
My personal preference is to hand it over to the Prince of Wales, and let the responsible section of the Royal Family (and their rather excellent set of charity and trust organisers) sort it out, and hope to God that some dreadful tragedy doesn't bring the Duke of York or his daughters to the throne!
It's about time the head on the pound coin meant something to the value of what it is sitting on.