Green’s Dictionary of Slang

waste n.

(UK black teen) a general term of abuse [abbr. waste of space].

Skins ser.1 ep.3 [TV script] Duck out, waste gash.
[UK]J. Cornish Attack the Block [film script] 64: Blade? You’re such a waste. Why’s it always trouble with you? Why’s it always someone gettin’ robbed or beaten up or someone gettin’ arrested?
[[US]M. McBride Swollen Red Sun 124: Barstow was a small thin waste of space].
[UK]J. Meades Empty Wigs (t/s) 444: Derek’s always blocked out of his head. Total waste of space.

SE in slang uses

In compounds

waste-butt (n.)

1. a landlord, a publican.

[UK]Egan Grose’s Classical Dict. of the Vulgar Tongue n.p.: Mr. Waste-butt, the publican; it is observed of most men when they commence publicans, from their habit of drinking with their customers in general, all sorts of liquors, that ‘they are little better than waste-butts.’.
[UK]Sussex Advertiser 30 June 3/5: The poor might have some good small beer from that waste butt called — Overseer.
[UK]W. Kent Guardian 26 Oct. 4/1: The guttlers’ waste butt [...] familiar with the customs of the ‘tap.’ His language smacks of pewter.

2. a drunkard; also as adj.

[Ire]‘A Real Paddy’ Real Life in Ireland 195: Brian was half seas over [...] Swan was a complete waste butt.
[UK]Egan Bk of Sports 7: The waste-butt sort of chap is entirely removed from the box; drinking at every inn quite exploded.
[UK]Morn. Post 13 Dec. 7/6: The complainant called her a ‘drunken ould waste butt’.
[UK]Morn. Post 5 June 7/4: A regular Waste Butt [...] So excessive was his thirst that he drank on average 19 gallons of ale each week.
[UK]Era (London) 1 Jan. 7/6: He was occasionally hissed by the audience, many of whom also considered him a waste butt, able to hold any quantity of fluid.
H.E. Malet Annals of the Road 82: [T]the waste butt sort of chap is entirely removed from the box, drinking at every inn quite exploded.

3. an eating-house.

[UK]Farmer & Henley Sl. and Its Analogues.
[UK]H. Baumann Londinismen (2nd edn).
wastepipe (n.)

the vagina.

[UK]‘Earl of Funsborough’ Covent Garden Jester 53: A Plumber’s Bill [...] For work done to your Ladyship’s Water-closet. [...] To a man to go to the bottom – [£] 0 7 6 / Easing your ladyship’s waste pipe – [£] 0 2 6 / To a cock put in the front [£] 0 5 3 / To a double ball ditto – [£] 0 7 6.
[UK]Farmer & Henley Sl. and Its Analogues.
[UK]Farmer Vocabula Amatoria (1966) 66: Citerne, f. The female pudendum; ‘the waste-pipe.’.