This song is only available on the "Your Arsenal" album which doesn't include lyrics. They are transcribed here without permission, as they are heard.

How sad are we?
And how sad have we been?
We'll let you know
We'll let you know
Oh, but only if
You're really interested ¹

You wonder how ²
We've stayed alive 'til now
We'll let you know
We'll let you know
But only if
You're really interested ¹

We're all smiles
Then, honest I swear it's the turnstiles
That make us hostile

We will descend
On anyone unable to defend
Themselves

And the songs we sing
They're not supposed to mean a thing

We may seem cold ^{3, 4}
Or we may even be
The most depressing people you've ever known
At heart, what's left, we sadly know ⁵
That we are the last
Truly British people you'll ever know
We are the last truly British people
You will ever know ⁶
(You'll never, never want to know)

 

² On the Tour Of The Tormentors MMVI Morrissey sang "*I* wonder how *I*'ve stayed alive til now..." and sometimes simply "You wonder how *I*'ve stayed alive til now..."

³ For a period on the 1995 Boxers tour and on a few occasions on the 1992 Your Arsenal tour, Morrissey made these lines more personal by singing "I may seem cold or I may even be, the most depressing person, you've ever met" or something similar.

⁴ On the 1992 tour, as heard on live album "Beethoven Was Deaf", Morrissey bridged the previous verse with this one by singing in a falsetto voice "Is it London?". He didn't do this when the song was included on the 1995 Boxers and Outside tours.

⁵ On the 1992 Your Arsenal tour, the 1995 Boxers tour and the Tour Of The Tormentors MMVI, Morrissey sometimes changed this line to "At heart, what's left, of course we know". This can be heard for example of live album "Beethoven Was Deaf". He also did this on the 1995 dates promoting the "Southpaw Grammar" album, except on the first few dates of the Outside tour when he sang "we'll always know".

⁶ On the 1992 Your Arsenal tour, Morrissey occasionally changed this line to "that you wouldn't want to know". This can be heard for example of live album "Beethoven Was Deaf". On the 1995 Boxers tour, the latter change became permanent, and Morrissey followed it with the words "...and so on". On some occasions he then went a bit further and sang "that you couldn't stand to know, and so on...". On the dates later that year promoting the "Southpaw Grammar" album as well as when the song returned to the setlist on the Tour Of The Tormentors MMVI, he reverted to "that you wouldn't want to know, and so on..."