IT HAS taken eight years but the States is Back in Black, earning more than it spends for the first time since the 2008 financial crisis. Fans of Aussie rockers AC/DC might, however, want to wait a bit before reaching for their favourite album in celebration. As the president of Policy & Resources puts it, ‘We are not out of the woods yet’. For it’s not every year that the millions of pounds in reserves invested by the island will bring in returns of 14%. And piggy banks owned by committees such as Education and States Trading cannot be smashed and raided in this way every year.