The beginning of the song is about a show Joe Strummer went to see there with a badass lineup:
"Dillinger and Leroy Smart
Delroy Wilson, your cool operator"
Delroy Wilson, your cool operator"
...but he didn't really like it too much. Apparently too showy and not gritty enough:
"But it was Four Tops all night
with encores from stage right...
with encores from stage right...
Onstage they ain't got no roots rock rebel"
Then he goes on to rip on some of the new "punk" bands for being pussies:
"Punk rockers in the UK
They won't notice anyway
The new groups are not concerned
With what there is to be learned
They got Burton suits, ha you think it's funny
Turning rebellion into money"
The Burton suits line refers to the Burton Clothing Company which has been an English staple for about 100 years. They even landed a government contract to supply every soldier returning from WWII with full three-piece suit with waistcoat, which became known as "The Full Monty".
I love the image of these new "punks" wearing the clothing of not only one of the most historic symbols of the mainstream British culture, but more insultingly, the same stuff their parents most certainly wore. This type of shit is unsettling to Joe and he makes sure to point out that while amusing, its really not "funny". These "new groups" are going against everything punk music has come to stand for, while exploiting the sound and subject matter to be rich and famous.