Lisa Chambers (Mayo, Fianna Fail) | Oireachtas source

I welcome, from the National Treasury Management Agency, Mr. Conor O'Kelly, chief executive, and Mr. Frank O'Connor, director of funding and debt management. They will be dealing with developments in the national debt.

Before we begin, I remind the members and witnesses to turn off their mobile phones. The interference of phones affects the sound quality and transmission of the meeting.

I bring to the witnesses' attention that witnesses are protected by absolute privilege in respect of the evidence that they give to the committee. However, if they are directed by the 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. Members are reminded of the longstanding parliamentary practice to the effect that members should not comment on, criticise or make charges against either a person outside the Houses or an official either by name or in such a way as to make him or her identifiable.

I now invite Mr. O'Kelly to make his opening statement.