The best British food is very good now, so much better than 30 years ago, but it does cost. It's much easier to find good food on a budget in the rest of Europe.
I found it remarkable that my father came back from England raving about the food, and I always found it to be barely edible. Our budgets were different by at least an order of magnitude though (I like to keep lunch under £5).
Living in Ireland, it's much the same. To give credit where it's due, though, one can get a somewhat respectable burrito in Dublin, while the London ones I tried were all unmitigated disasters.