The oiks got battered. That's the whole point.
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Council estate types from Slough back in the 60's would frequently amuse themselves by roughing up Etonians and pinching their top hats.
Now there is an urban myth that arose about an Eton boxing blue who would deliberately set himself up as bait when the word went round that the roughs were up to their tricks and would beat the shít out of whoever tried to take his hat.
It wasn't an urban myth though. Not long before Rifles came out, an Eastender I was working with when I did my apprenticeship, told me he and a little mob of his mates had gone to Eton to pinch top hats and their daddy had, indeed, been battered by a toff. True story.
I always assumed the story had somehow made it to Weller
Weller was not actually involved in the scrap, it was an event which he had read about.
The lyrics were part based on this event and also on a fight which occured in Leeds between members of The Jam and their road crew and an Australian rugby side, the incident resulted in PW attending Leeds Magistrates Court where he was charged with some nonsense or other, breaching the peace type thing.