Lyric discussion by Razin1670 

Cover art for Billy Liar lyrics by Decemberists, The

Perhaps related to Keith Waterhouse's novel, Billy Liar?

Yeah, I think this song is more about Billy Fischer (the title character from Billy Liar). There are quite a few Under the Milkwood references too ("nogood boy-o").

@Razin1670 It seems to have very little in common with the novel. Billy Fisher works for an undertaker.