Flying blind with State finances is not on

The most common excuses used by those who sought to defend their mismanagement of the country’s economy before the collapse were that 1: They couldn’t foresee the future; and 2: They didn’t have the benefit of hindsight.

But now it seems those to whom we entrust our fragile finances don’t have any present-day sight either.

“The department is flying blind,” Derek Moran, the top official in the Department of Finance, told the Public Accounts Committee when asked to explain the sudden and unanticipated surge in revenue from corporation tax revealed in the exchequer returns this week.