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I quite like a Swiss hook, but I really doubt it's much less offensive-looking than a machete.
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I use a Faithfull Grass hook
You can separate the blade from the handle and fit it inside a pannier or saddlebag easily. Cheap as chips, I've had mine for well over 30 years, it's on it's second handle and third blade, and I've swapped out the nuts for wing nuts. The only original parts are the bolts. Very effective too.
I wrap the blade in a length of old seatbelt to keep it safe.
What's people's favourite tool for clearing Sustrans paths and the like (so brambles, nettles, lianas, tropical forest, etc.)? Bonus points if it won't immediately attract the Old Bill when strapped on top of a Carradice (on which point I'm guessing machetes are suboptimal).