The government calls it a fiscal event, not a budget.

But whatever you call it, the wave of tax-cutting measures unveiled today are a calculated risk that they will be enough to stimulate a stagnant economy and offer a lifeline to businesses - albeit one that is short-term.

Politically, the Chancellor has gambled that the package will allow the economy to flourish against a backdrop of soaring energy costs, rising inflation and a cost-of-living crisis.

But what will it all mean for struggling households in Kent?

How will it affect Kent pay packets?

The average salary ranges between £30,400 in Thanet and £40,800 in Dartford, set against the UK average salary of £38,100 in 2021.

Under the plan for the basic rate of income tax cut to 19% in April 2023 – one year earlier than planned – the Treasury says 31 million people will on average see tax savings of £170 more per year.

For someone earning £30,000, they can expect to pay around £174 less.

Currently, people in England, Wales and Northern Ireland pay 20% on any annual earning between £12,571 to £50,270.

The heavily trailed move to cut a rise in National Insurance will mean savings of about £218 for those earning £30,000. The hike was first introduced in April this year. Rates rose from 12% on earnings between £184 to £967 a week to 13.25%.

Could lots more Kent housing developments get green light?

Aside from tax cuts, the government had announced that it intends to create special zones in which planning restrictions would be eased.

The aim according to the Chancellor is to stop big infrastructure projects from getting bogged down in red tape and a planning system which slows down the process.

These areas, described as ‘investment zones’, would also see tax lowered for businesses and possibly for residents.

The Treasury report on the reforms states: “Each Investment Zone will offer generous, targeted and time limited tax cuts for businesses and liberalised planning rules to release more land for housing and commercial development.

"These will be hubs for growth, encouraging investment in new shopping centres, restaurants, apartments and offices, and creating thriving new communities.”

This could be a sensitive issue for Kent, where there is resistance to large-scale developments that threaten to concrete over the Garden of England.

How will stamp duty change affect Kent's housing market?

There is also a boost for the housing market which has been struggling.

For buyers, there will be no stamp duty on first £250,000 and for first time buyers that rises to £425,000.

How will that affect the Kent market and will it help? According to RightMove, the average property price in Kent is £411,129.

Most property sales last year in Kent involved terraced properties which sold for on average £351,277.

Semi-detached properties sold for an average price of £432,161, while flats fetched £255,129.

What about petrol and booze?

As to hard-pressed motorists, there was no announcement on whether the government intends to keep the five pence cut in fuel duty.

But better news for drinkers as planned increases in duty went down the plughole.

The Chancellor hailed his package of measures as a start of a new era.

Time will tell if that is the case but with the package of tax cuts estimated at £60bn, the one big unanswered question is how and who will pay for it?