Claire Pugh, 43, and her husband Anthony, 47, are frustrated sellers. For six months they have been trying to move out of their four bedroom detached home in Chippenham, Wiltshire, but have not been able to find a buyer.

The couple are keen to move nearer to their two children’s school and sports club, and have reduced their asking price by £60,000 to £365,000.

Four prospective buyers have had to walk away after being unable to sell their own homes.

Mrs Pugh, 43, an office manager, is disappointed that the Chancellor did not abolish stamp duty, after the threshold was raised earlier this year from £125,000 to £175,000. The cut in VAT will make estate agents fees cheaper when the couple do move, but only marginally.

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She also doesn’t believe the reduction in sales tax from 17.5 per cent to 15 per cent will boost spending. “The cut in VAT is absolutely nothing and I don’t think people realise how little an impact it is going to have. People will barely notice.” The couple are going to save £708 a year because of the increase in personal allowance and the increase in the higher-rate tax threshold.

The couple should also benefit next year from the increase in child benefit of £62 a year.

“I’m obviously pleased that I’m going to be saving some money, but my concern is when we are going to have to pay all this back in two years’ time,” said Mrs Pugh. “If I’ve got to pay even more back later on in higher taxes then I don't know if it is worth it. It seems to me that this is a knee-jerk reaction.”

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