RING fencing a £500,000 loan across 15 years to rebuild the listed Old Thatched Inn has seen Bovey Tracey Town Council increase its annual precept by more than 27 per cent.

It is the second highest parish precept increase in Teignbridge, rising from £148,855 to £188,855.

The only parish to go above that is Doddiscombsleigh with a 100 per cent jump, but that is on a previous £1,480, taking it to £2,960 and is a precaution in case it is faced with having to pay for an election.

In Bovey Tracey councillors are quick to point out that they have held the town's precept for four years and that its Band D property increase goes from £50.49 in the current financial year to £63.93.

That is up £13.44 representing 25p a week.