I made up this verse:

Please feel free to add it:

My friends inside the government in 1989
Privatised the reservoirs so I could make them mine
So now I own the waterworks and I have nothing to fear
Their is even more money than ever their was in watering workers beer

because the last verse of the original Paddy Ryan version has:

Water rates are terribly high and meths is terribly dear
And their isn't the profit their used to be in watering workers beer

Si this is plainly untrue I felt the living tradition should pass a comment

Cheers

L in C