I think the song has to do with his brother "Liam Gallagher". It's no secret that they haven't had the best relationships. He has said many times that Liam is indirectly (and directly at times) a big problem for him. Noel has had to leave touring with "Oasis" on a few occasions and left permanently because of his brother, so I feel Liam definitely held him back from life. Hence the "From people who would be
The death of you and me". Also the idea of the sunshine, summer and children represent happiness but it's cut short by the thunder which could be referring to Liam also.