The drinking dens are spilling out 
There's staggering in the square
There's lads and lasses falling about
And a crackling in the air
Down around the dungeon doors
The shelters and the queues
Everybody's looking for - Somebody's arms to fall into

And it's what it is - It's what it is now

There's frost on the graves and the monuments
But the taverns are warm in town
People curse the government - And shovel the hot food down
The lights are out in the city hall
The castle and the keep
The moon shines down upon it all
The legless and asleep

And it's cold on the tollgate
With the wagons creeping through 
Cold on the tollgate
God knows what I could do with you

And it's what it is - It's what it is now

The garrison sleeps in the citadel
With the ghosts and the ancient stones
High up on the parapet
Scottish piper stands alone 
And high on the wind - The highland [bad word] begin to roll
And something from the past - [bad word] and stares into my soul

And it's cold on the tollgate 
With the Caledonian blues
Cold on the tollgate
God knows what I could do with you

And it's what it is It's what it is now
And it's what it is It's what it is now

Solo:

There's a [bad word] of a light, there's a burning wick
There's a lantern in the tower
Wee Willie Winkie with a candlestick
Still writing songs in the wee wee hours

On Charlotte Street I take a walking stick from my hotel
The ghost of Dirty [bad word] - Is still in search of Little Nell

And it's what it is - It's what it is now
Oh it's what it is - It's what it is now