This Greg Lake single first came out in 1975. Each Christmas that I heard it I was drawn to it. Then one Christmas I saw the 1995 EP with this and other tracks in a big record store. I didn't buy it at the time (I show restraint sometimes) but sent for it from Amazon another Christmas. It has 5 tracks - 2 versions of IBIFC, a version of Prokofiev's Troika (by Keith Emerson and the tune that provides the musical theme for IBIFC), Humbug (B-side of IBIFC single - delightful, jazzy, near-instrumental) and Nutrocker - encore from the ELP album of Mussorgsky's Pictures at an Exhibition (based on Tchaikovsky's Nutcracker so a Christmas number too).
The second version of IBIFC is a stripped down ELP version of the masterful Greg Lake single. This latter track has everything going for it as a Christmas single. First you get a beautiful 12-string guitar, a pleasant voice singing a pleasant tune. Then there's a distant choir, sleigh bells, some sort of bell/horn synthesiser to give atmosphere. Next, as we approach the final minute, timpani start, a large choir, an orchestra, military drums - all moving to a dramatic and powerful close. These are what hit you at first. Then you realise that the words (by one Pete Sinfield) are totally cynical. Poor old Pete has seen through the whole sham. No snow - only rain; no Father Christmas and (for him) no Jesus either. He tries to rescue it by wishing everyone a hopeful Christmas and a brave new year. This is highly post-modern - a song that makes you feel all "Christmassy" but that points out that the whole thing is a sham. I do believe in "the Israelite" but moaning about Christmas and enjoying it at the same time is great fun.