Devon County Council Leader John Hart has insisted that Devon must not lose out in any new deal with Scotland following the referendum.
Yesterday Scotland voted against independence following a hard-fought campaign by both sides.
The Scottish electorate's rejection of independence was greeted with delight by Prime Minister David Cameron, who said that the victory margin of around 55 per cent to 45 per cent had settled the issue "for a generation... perhaps for a lifetime".
Talks will now to take place to give Scotland new powers which were agreed by the main Westminster parties during the referendum campaign.
But Mr Hart said he feared people living in Devon could lose out in the new agreement.
He said: "I am really glad that the United Kingdom isn't going to be broken up. But we now have to ensure that Devon and the South West doesn't lose out because of the promises made by the Westminster parties to Scotland.
"Last week we were being urged to fly the Saltire. But I intend to keep on flying the flag for Devon. We in the South West already lose out to Scotland because of a funding agreement reached by the Labour Government in the 1970's worth about £2,000 per head.
"We're also facing unprecedented spending cuts in Devon and we can't afford to have any more cash siphoned off to other parts of the country."
He added: "There've been promises made in the heat of the election campaign in Scotland.
"What the parties at Westminster have to remember is that there's a General Election next May for the whole of Britain. The main parties can't afford to be seen to penalise voters in Devon to benefit the Scots.
"That's a message I will be giving all our MPs and candidates very firmly over the coming months. We want a fair deal for Devon."
Exeter MP Ben Bradshaw, who travelled to Scotland to campaign for a no vote, said he welcomed the result.
Speaking from Scotland, he said: "I'm very pleased that our successful union over 300 years has survived.
"I'm delighted at the result. I've got very sore feet and rather stiff legs but apart from that I'm elated, not least because of course I'm married to a Scot so I have a personal interest in the result."
He added: "We now need all-party constitutional convention for far reaching reform for the whole UK not some rushed political fix."
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