Well done to the crews who prevented this incident turning into a catastrophe. For those complaining about congestion in the Oxford circuit, I suggest you look towards WMU in the states. That airield had ILS/VOR/NDB/GPS approaches plus radar coverage. There were regularly 8+ (no exaggeration) in the circuit, plus a line of others waiting to depart, military fast jet and transport traffic, biz jets, and all run by incompetent ATCers whose instructions were best ignored in the interests of safety. Despite this there wasn't a single mid-air there. Even in that congested airspace, the best way to keep safe is a bl**dy good lookout and a major sense of self preservation. Technology won't do it for you!
Well done to the crews involved once again!