Josepha Madigan (Dublin Rathdown, Fine Gael) | Oireachtas source

I remind members and witnesses to turn off their mobile phones as the interference from these affects the sound quality and transmission of the meeting.

Good afternoon and welcome to the first of this committee's pre-budget scrutiny sessions, certainly the first to be held in public. The Committee on Budgetary Oversight was set up to improve the level of engagement with Parliament on budget decisions. An enhanced role for Parliament in budget scrutiny is very important and is based on the recognised international principle that in a democracy better decisions are made when policy makers are held to account and when the entire policy making process is subject to parliamentary oversight, scrutiny and active participation.

In advance of the 2018 budget, the committee will hold pre-budget meetings with a small number of national stakeholders to discuss particular topics prior to budget day on 10 October.

The committee is also due to meet the Minister for Finance and Public Expenditure and Reform and his officials on 27 September.

I welcome Mr. Seamus Coffey, chairman of the Irish Fiscal Advisory Council. He is accompanied by Dr. Martina Lawless and Mr. Michael Tutty, council members, and Mr. Eddie Casey, chief economist and head of the secretariat. I thank the witnesses for making themselves available today. A copy of the pre-budget report has been circulated to the committee members and we will take it as read. The witnesses will be asked to deal with the following themes: their pre-budget statement, corporation tax, which is topical given Mr. Juncker's comments earlier today, volatility and risk and international tax policy in this area and possible efficiency savings in expenditure.

I draw the attention of witnesses to the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee 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, persons or entity by name or in such a way as to make him, her or it 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 outside the House or an official either by name or in such a way as to make him or her identifiable.

Mr. Coffey has been allocated 15 minutes to make his opening statement.