Bracknell’s MP says new chancellor Jeremy Hunt is ‘just the man we need’ after Kwasi Kwarteng was sacked. 

Prime Minister Liz Truss has appointed former foreign secretary Jeremy Hunt as the new Chancellor after weeks of turmoil following last month's mini-budget. 

James Sunderland expressed his support for Mr Hunt, calling him the “pragmatic choice”. 

“Jeremy is a very experienced politician, a pragmatic choice by the Prime Minister. It’s great to see him back in government. He’s just the man we need to calm the horses and settle the markets,” Mr Sunderland added. 

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Earlier, Mr Kwarteng was summoned back early from the annual gathering of the International Monetary Fund in Washington to be told of his fate in a brief meeting with the Prime Minister in Number 10. 

The commitments to reverse a hike in national insurance rates and ditch a planned rise in corporation tax, without explaining how they would be paid for, were the key planks of the PM’s leadership election campaign. 

But after the financial markets took fright – with the pound plummeting against the dollar and the cost of Government borrowing soaring – the Conservatives have seen their opinion poll ratings tank. 

In further changes, Mr Kwarteng’s deputy, Treasury Chief Secretary Chris Philp, is moved to the Cabinet Office in a job swap with Edward Argar.