John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Apologies have been received from Deputy Calleary who cannot be in attendance. I welcome members and staff of the Fiscal Advisory Council, Professor John McHale, Mr. Seamus Coffey, Mr. Michael Tutty and Dr. Thomas Conefrey. The IFAC is here today to discuss its pre-budget statement, which was published last week.

Before we begin, I remind members and witnesses to turn off their mobile phones as the interference affects sound quality and transmission. I also want to bring to the attention of the witnesses that they are protected by absolute privilege in respect of the evidence they give to the committee. However, if they are directed to cease giving evidence on a particular matter and they continue to so do, 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 or make charges against any person or persons or an entity by name or in such a way as to make him or her identifiable. Members are reminded of the long-standing parliamentary practice to the effect that they should not comment on, criticise or make charges against a person either inside or outside the House or an official either by name or in such a way as to make him or her identifiable.

I ask Professor McHale to make his opening statement.