Feb.27 (GMM) Red Bull Racing boss Christian Horner has rubbished speculation that the team is currently enjoying one of the healthiest budgets in formula one.

The Briton branded it a "myth" that the wealth of billionaire team owner Dietrich Mateschitz means that the Milton-Keynes based outfit can compete dollar-for-dollar with carmaker rivals including Mercedes and Honda.

"We have a reasonable budget," Horner told the Swiss journal Motorsport Aktuell, "but it does not even begin to compare with what a works team has at its disposal."