Budget speeches are an opportunity to position the measures announced for the year ahead inside an overall economic strategy. Neither Jack Chambers nor Paschal Donohoe chose to go beyond the listing of tax giveaways and increases in current and capital allocations.  The more sceptical media reactions echo reservations articulated at length in recent weeks by the Fiscal Council, the Central Bank, international agencies and economic commentators. In brief, it’s risky to underplay the possibility of adverse developments in a small, trade-dependent and volatile economy. The capacity to run deficits when most needed is imperilled by unwillingness to contain debt ratios,…

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