Suffolk MPs have reacted to the government’s latest ‘mini-budget’, with many aspects of the plans being praised, and others being called “disappointing”.

Chancellor Kwasi Kwarteng announced several tax cuts on Friday, which he described as “the biggest package in generations” and “a clear signal that growth is our priority".

These cuts included reversing the rise in National Insurance contributions, doubling the threshold for stamp duty to £250,000, and lowering the basic rate of income tax from 20% to 19% from April 2023, which the Chancellor claimed would lead to an average individual savings of £170 each year.

Some MPs have reacted positively.

MP for central Suffolk and north Ipswich Dr Dan Poulter said: “During these extremely difficult economic times, the government has taken the view that the best way to support families and businesses through the challenging months ahead is to cut taxes, put more money in people’s pockets and support people with the cost of living by capping home and business energy costs.”

Tom Hunt, MP for Ipswich, agreed. He said: “We've got to do everything we can to spur growth in the economy. The statement today was squarely focused on that, and I welcome it.

“We've already seen huge commitment from the government to support people with energy prices.

“What we saw today through fiscal saving builds on that, but was very much focused on growing the economy.

“This is something which is critically important, because unless we have a strategy for growth, then we're not going to be able to invest in the way we would like into public services.”

In particular, he praised the cutting of basic income tax, national insurance and the removing Green Levies from energy bills, saying that these things taken together will benefit citizens.

He also praised the freezing of beer duty. “That's something which I know will be welcomed by many landlords.”

James Cartlidge, MP for South Suffolk, also praised aspects of the plan, but said there was still a need to be cautious.

He said: “I was pleased that the Chancellor confirmed the very significant support which will be made available for households and businesses but, as I understand, also schools and other public organisations.

“This will be paid for through borrowing, but the cost of doing nothing would have been huge anyway.

“We should still be as cautious as possible on the public finances, and we will have to wait and see if the Chancellor’s tax cuts generate enough growth to replace the revenue they otherwise forego.

“But he deserves our support in his attempt to fire up growth, which is the best way to support a job-creating economy.

“I was particularly pleased that the Chancellor set out his desire to move more people from benefits and into work, or from low hours to longer hours.”

However, there were aspects of the plan which Peter Aldous, MP for Waveney, found disappointing.

He said that the list of infrastructure projects released by the government did not include rail improvements to the junctions at Ely and Haughley.

He said: “That is a disappointment because those are projects that would open up significant economic growth opportunities, not only in our region but across the whole country.

“There is so much freight that passes through East Anglia from Felixstowe and other ports, that actually, we need better communications going out of our region. That will encourage people to move here, and also benefit the whole country.

“The fact those haven't been included after a lot of lobbying by many people over the last few months is seriously disappointing.”

However, there were aspects he welcomed, such as an announcement of investment areas which he hoped would benefit existing enterprise zones.

An enterprise zone is a designated area where tax breaks and government support are provided, in order to encourage business.

“There is an existing zone in Lowestoft, and in the Waveney area which has been very successful, but does need some revitalisation,” he said.

“This could provide us with the opportunity to do that.”

He concluded: “The signal is very much that the government is going for growth. What I need to do is make sure that my constituents are able to take advantage of that.”