I have a hunch the song you're looking might be on this album:

"On the Edge," Topic CD #806, a "radio ballad" originally recorded 1963, re-released 1999. There's a review here, and you can hear sound samples at allmusic.

The album, as far as I can tell from the sound samples, consists of documentary-style comments by British teenagers about their lives, interspersed with songs. (The description says "various artists," but it seems that most, if not all, of the songs are performed by Ewan MacColl and Peggy Seeger.) The songs are a curious blend of traditional musical style and modern verbal idiom. Below are the titles of the cuts, but they seem to be titles of the segments of the radio show rather than titles of songs, but they might be both.

1. I've Always Kept a Diary
2. A Tale of the Children of a Troubled World
3. What Is It Like, the World Outside?
4. I Find It Very Difficult to Talk to My Parents
5. Where Is the Child Who Would Climb on My Knees?
6. Yes Sir, No Sir, Goodbye
7. What Have You Got to Worry About?
8. I Got Me Tight Black Jeans
9. The World That I Know, It Has Vanished and Gone
10. I've Had Thoughts
11. Why Should You Be Lonely?
12. It Actually Gives Me a Thrill
13. Frankly, the Idea of Intercourse and Sex Revolts Me
14. I Think We Should Be Getting Married
15. In a World Like This, Everything Changes So Rapidly
16. The Tale of the Children of a Troubled World
17. Life Has Got Everything to Offer