Liam Twomey (Wexford, Fine Gael) | Oireachtas source

Before we commence business, I remind members, officials and those in the Gallery that all mobile telephones must be switched off to avoid interference with the broadcasting of the meeting.

I welcome the Minister, Deputy Noonan, and his officials to the meeting. He will brief the committee on the January ECOFIN meeting and the upcoming one on 16 February. It is timely to discuss developments in Europe such as the introduction of the proposed strategic investment fund, the annual growth survey and alert mechanism, and the move towards fiscal co-ordination under the European Stability and Growth Pact.

I wish to advise witnesses that, by virtue of section 17(2)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to this committee. However, if they are directed by the joint committee to cease giving evidence on a particular matter and they continue to do so, they are entitled thereafter only to qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable.

I invite the Minister to make his opening statement.