Kwarteng’s economic vandalism still intact after Tory top-rate tax U-turn

The worst of Truss and Kwarteng’s amoral ‘fiscal event’ is still with us, writes James Moore

U-turns ahoy: but the mad project of Kwarteng and Truss is still largely intact (Getty)

On and on went the refrain: we have to do this. We had no choice. We need to get the UK economy going again. And we’re not turning back. Now? With the Tory conference under way – minus a significant chunk of Tory MPs – it’s turn, turn, turn!

“We’re listening to people,” said the chancellor as he announced the decision to reverse the planned 5p cut to the 45p top rate of income tax. Kwasi Kwarteng is a man who has been proving that terribly clever people can still commit acts of breathtaking stupidity.

Really, he is like one of those pedestrians whose constant pecking at their iPhones makes them so oblivious to their surroundings they’ll cheerfully walk into a stream of traffic. In this case, with a helpful shove from best pal Liz Truss.