the Chancellor of the Exchequer made an important statement about the public finances on Monday in a bid to stabilise the economy after the political and market shock reaction to the the mini-budget.

The Times asked the people of West Devon for their response to the Chancellor’s measures.

John Gilman, school meal assistant, from Horrabridge, said: ‘All the chancellor’s measures affect me and it’s worrying that everything’s going to cost more than before. We were just getting used to planning for higher food and fuel and energy costs with some help from the Government. Then they go and mess it up and makes things worse.

‘I guess we’re already paying the 20% income tax rate, so it won’t make much difference it won’t be going down. It’s just that it would’ve helped with inflation always rising now.

‘Now we’ve got to worry again about the energy bills going up without government support they promised. At least it’s after the winter I suppose.’

John said the biggest likely rises to affect him and his wife would be mortgage and fuel: ’Our rate is fixed until April, after that things look worse for new deals. And my wife is a music teacher in Dawlish which costs her £500 a month in petrol to commute.’

Rowan Payne, a self-employed builder, from Tavistock, said: ‘I drink and smoke, — only a social drinker —so the increases in duty for beer and fags will affect me. The mortgage rates going up is also worrying. I was looking at buying, but not now, it’s too expensive. I pay my leccy through a meter and that’s more expensive. I don’t have any choice over fuel for the van either, I have to pay it or I don’t work. As usual the working man is paying for the mistakes of the Government.’

Sara Carmichael, advertising executive, said: ‘This statement means more broken government promises, especially leaving millions of lower paid workers not having more in their wage packets as the PM promised — but bankers bonuses go up. The energy support is good news for lower waged people, but should also include middle earners.’

Her husband is self-employed and she said freelancers would not be helped by the changes.

Jenny Davis, taxi driver, said: ‘I don’t drink as it doesn’t fit in with my job as a taxi driver. I gave up smoking to save money. They are keeping the self-employed status rules, which is good for me as I like to keep my independence as self-employed and work my own hours.’

Mel Stride, Conservative MP for Central Devon, and chair of the Treasury Select Committee, said: ‘This is a strong start by Jeremy Hunt. It is early days but the markets have so far responded positively. But even after reversing almost all of the mini budget there is around a £40 billion gap that the Government will still need to fill.’

Sir Geoffrey Cox, MP for Torridge and West Devon, said: ‘I am glad the new Chancellor has taken prompt and decisive action to calm the markets.

‘These are necessary steps and I hope that we shall now get back to the sound and serious management of the public finances which has characterised Conservative Governments over the years.’