I'm in agreement with the majority view expressed here. If we start sensoring songs for whatever reason, we are sensoring history, as those in power have done for so long. We do this at our peril.

However when singing or publishing any song that contains any sort of material that is not deemed to be politically correct, I feel it is important that we explain our own stance and why we are still using the material.

In this specific case, as someone has already suggested, it is useful to present the song as an example of England's historical treatment of Jews, which compares with the 20th century holocaust.