It's just madness, all of it.

Even if you agree ideologically with flat taxes, reducing the size of the state etc, the climbdown is almost worse than the initial reaction because they are just piling weakness and confusion onto an already long list of Truss and Kwarteng's failings.

I don't even see who this appeals to, particularly. It doesn't add much to the treasury coffers in real terms, all of the unfunded tax cuts are elsewhere so borrowing is still going to be massive. It's just a really narrow band of those who will directly benefit in the short term, and who are also happy to see the rest of the economy burn in the medium to long term.