The most leaked budget ever is a poor advertisement for the “new politics”: a thin layer of borrowed money spread in all directions. In the period since February’s general election, a minority Government, patched together from Fine Gael and independent deputies, has struggled to produce a coherent response to the challenge of economic management.

And there is an enormous challenge. Ireland’s growth model since the 1960s has been built around foreign direct investment encouraged by a generous corporation tax regime – a model now under sustained attack.