Time is "running out" for the Conservatives to show the public they deserve to remain in government, according to one of the region's Tory MPs.

Waveney MP Peter Aldous said the economic fallout from chancellor Kwasi Kwarteng's mini-budget had been "painful to watch".

Mr Aldous called for November's medium-term fiscal plan to be brought forward to reassure the markets, after the pound plummeted and the Bank of England intervened to buy £65m of government debt.

Mr Aldous made his comments in an article he wrote for The House publication, on the eve of the Conservative conference in Birmingham.

He said he sympathised with any agenda which aimed to cut taxes, but added: "As a Conservative I am also acutely conscious of budgetary constraints, and the need for sound money.

"Nothing about the chancellor’s opening weeks at the Treasury have reassured me – nor, more importantly, the markets – in this regard."

He criticised how the measures had not been accompanied with an Office for Budget Responsibility report or "proper parliamentary scrutiny".

Mr Aldous said the "actions have almost seemed designed to provoke the markets at a time when they were already demonstrably volatile".

He said tax cuts alone were "highly unlikely" to help achieve a 2.5pc growth target and said, while the Energy Price Guarantee "must be applauded", it was not as well targeted as it should have been.

And he said: "I continue to believe that it could be doing more for the most vulnerable, for whom the tax cuts do little."

He said the government must reassure the markets and said: "This surely means bringing forward November’s medium-term fiscal plan, which will crucially set out details on fiscal rules."

And he concluded: "With a general election drawing nearer, time is running out to show the British people that the Conservative Party deserves to retain the honour of serving as their government."

Prime minister and South West Norfolk MP Liz Truss acknowledged mistakes over the mini-budget, but said she is standing by her tax-cutting plan.

At the Conservative conference she will face the challenge of reassuring the markets and Tory members unnerved by the market turbulence and an opinion poll crash.