Wasn't it the UK rather than England? Language like putos would cause outrage if it was used in the UK, I believe it's more of a homophobic slur than putas which is bitches/whores/sluts. I wouldn't repeat the definition I think it is, the sun stopped using that language a few decades ago.
The song talks about the English rather than the British; a lot of people around the world tend to conflate the two terms.
Puto is actually incredibly difficult to translate - as an adjective it's not homophobic, but as a noun it can be (
puta is the same, mildly offensive as an adjective but a lot worse as a noun). It's also used to mean coward, the same way
pussy would be used in English.