TWO DORSET MPs have spoken out after Chancellor, Jeremy Hunt set out a new financial plan this morning.

Mr Hunt brought the announcement forward as he looked to calm the markets which have been in turmoil since the tax cutting mini-budget was set out by previous Chancellor Kwasi Kwarteng.

The announcement included ditching the 1p income tax reduction and reviewing the Government’s energy support package.

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Tobias Ellwood, Conservative MP for Bournemouth East told Sky News: “This is the worst crisis since Suez. It’s good news this reckless experiment with Britain’s finances is now over.

“We now need to exhibit the scale of statecraft not seen in a generation if we want to turn this around.”

Sir Robert Syms, Conservative MP for Poole said: “I thought Jeremy gave a very good, moderate statement about what the government wants to do.

“The market seem to like it in the sense of interest rates are falling and the bonds market is looking a lot better.

“We are going to have to wait and see what he says in the house this afternoon and indeed on the 31st, about the next three to five years in terms of a plan.

“But I think it's a good start to getting back on the front foot on economic management.

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“We've seen quite a large fall in oil and gas prices, certainly gas prices which should make it much more affordable and the fact that he says after April it'll be targeted and capped is good. So I'm happy with what he said.”

Speaking about Liz Truss’s future as Prime Minister, Sir Robert said: “The constituents I've talked to say that it hasn't been a great month for Liz Truss, but she has only just taken over and she needs a bit of time to sort things out.

“So I don't see any immediate changes, we're going to have to see how things are. If things continue not to be great, then my guess is that there might be a challenge.

“But at the moment, I think that we’re going to wait to see the full statement that Jeremy's going to deliver on the 31st.

“If things settle down a bit, then I'm sure she'll be leading us into next year. Whether she is leader in two years time, when we have a general election, depends on whether or not she improves her performance as Prime Minister.

“If she does, I think she there is still a chance that she could lead us to the next general election, but if she doesn't, we've got time to consider a change.

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“When I look on Twitter, I think everybody is going mad and they say things like well she's bound to be finished, but I've been in politics long enough to see people who the roof has fallen in on, get up from under and come back and survive and win.

“One just has to remember, the conservative party in European elections in 2019 only got 9 per cent of the vote and six months later it won a record landslide.

“So I wouldn't necessarily, assume that all is over and that's that. I think there is a very good chance, providing we manage the economy well over the next two years that we can still win the next election.”