Jeremy Hunt welcomed by Tories as he tears up Liz Truss’s fiscal plan

There's relief among Conservative MPs as the new chancellor seeks to bring stability back to government

Senior Conservatives on Saturday welcomed Jeremy Hunt's arrival as chancellor, saying he had effectively taken over" running the government from Liz Truss after he unceremoniously dumped her tax-cutting agenda on his first day in office.

One senior Conservative MP said it was a huge relief to have someone in charge at the Treasury who was able to admit to recent mistakes and had made it his mission to restore the government's credibility with the markets. It is just so good to have a grownup in the room, someone who commands respect and who has experience after this period of utter madness."