If you don't want something the size of a machete, but just a serviceable knife, I think there are two choices. For a folder, you can't beat an Opinel. If a fixed blade is desired, then one of the Mora type. Both carbon steel for preference. Either will not rust unless you let it, but will acquire a patina that is no harm at all. They will work as well as any £300 knife, and will not break the heart if lost. For a bigger sheath knife, a Cold Steel 'Bushman' should tackle anything, is moderately priced, and sharpens up nicely with a few whacks of a steel.
http://www.heinnie.com/product.asp?P_ID=4586