The British government has released their latest budget, which has been hailed by many as “a ruddy good thing.”

Finance Minister George Osborne announced that the top rate of tax would be reduced from 50 per cent to 45 per cent.

“This is a ruddy good thing for all Brits,” said Lord Applemort in an exclusive interview with The Canberra News Digestive.

Lord Applemort celebrates with friends after Osborne budget announcement

“My family has been in the top tax bracket since taxes were invented. As a matter of fact The Duke of Lancaster paid something like five hundred times the amount of tax paid by a common peasant. That was in the 14th Century. Poor old Henry. Loved a good speckled fowl he did.”

Osborne has outlined his plan to make the money back in other ways by increasing the tax on luxuries such as caviar, helicopter fuel, and feminine hygiene products.