Unless it's a parody, it sounds like 'Waltz Me Around Again, Willy', which is a track on the late Tufty Swift's Free Reed album 'How To Make a Bakewell Tart'. Almost certainly music hall.

Chorus starts:
Waltz me around again, Willy,
round and round and round,
The music is dreamy, it's so ginger creamy,
I can't let my feet touch the ground ...