John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Today we are dealing with the 2014 Annual Report and Appropriation Accounts: Vote 7 - Office of the Minister for Finance; chapter 1 - Exchequer Financial Outturn for 2014; chapter 2 - Government Debt; chapter 3 - Cost of bank stabilisation measures as at the end of 2014; and Finance accounts 2014.

Before we begin, I ask members, witnesses and those in the public Gallery to please turn off their mobile phones as they cause difficulty in terms of the quality of the sound transmission of the meeting. I advise witnesses that they are protected by absolute privilege in respect of the evidence they are to give this committee. If they are directed by the committee to cease giving evidence in respect of a particular matter and they continue to do so, they are entitled thereafter only to a 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 nor make charges against a member of either House, a person outside the House or an official by name or in such a way as to make him or her identifiable. Members are reminded of the provisions within Standing Order No. 163 that the committee should also refrain from inquiring into the merits of a policy or policies of the Government or a Minister of the Government or the merits of the objectives of such policies.

I welcome Mr. Derek Moran, Secretary General of the Department of Finance and ask him to introduce his officials.