In many countries it's a synonym for "boy" though in Australia it also means "faggot" or "wanna be gangster"
England:
Man: Can you grab me a paper?
*boy grabs paper*
Man: "Good lad".
Australia:
*'rebel' kids trying to act tough*
Everyone else: "Look at those lads. I wonder if they realize that everyone else hates them and that they look like scrawny faggots."
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