"Liliburlero" is surely all right: the BBC World Service wouldn't use an air which could reasonably be seen as insulting or demeaning to a defined minority in Britain, would it? Or is it not problematic because so few people know the words, let alone their historical referents? Just as a reminder, the first line contains what might be termed "the 'T' word".
Not "racism", admittedly, but still the perpetuation of prejudice.
Memorable air, nonetheless, whether or no the words are known. Just like many composed by SCFoster.