I think the most likely cause is an intermittently restricted air intake, possibly a hose collapsing under stress. You can check this by disconnecting the air intake to the manifold and trying it, the performance will be reduced as the turbo will not be doing anything but it should rev OK.
I am puzzled about failure of the power steering though as the pump is mechanically driven from the engine so should have no connection with engine function.
It certainly should be worth repairing, they are a nice car, I have one.
Just noticed you have smoke under the bonnet, if you can see where its coming from that might be a clue, or does the fault dissapear as soon as you stop?
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