Kwarteng bringing forward debt plan could calm markets, says top Tory MP

Mel Stride, chair of Treasury committee, says move could also mean smaller interest rate rises

• Business live - latest updates

Kwasi Kwarteng's decision to bring forward his debt-cutting plan could help to calm markets and mean smaller future interest rate rises than would otherwise have been the case, according to the Conservative chair of parliament's influential Treasury watchdog.

Mel Stride, a Tory MP and the chair of the Treasury committee, said moving the government's fiscal statement to October from 23 November could restore some confidence, depending on the content of the plan and the detail of the new forecasts from the Office of Budget Responsibility.