David Holtom, aged 83, moved to Andover from London in 1966 and is no stranger to leaner times.

“It should make some difference to some people,” he said.

“We have got used to watching our pennies at our age.

“I grew up learning to be thrifty – in the late twenties and thirties we didn’t have money to throw around. Hopefully it will make a difference to younger people. “Nowadays we’re only spending money on necessities.”