Colm Brophy (Dublin South West, Fine Gael) | Oireachtas source

I remind members to turn off their mobile phones.

I welcome Mr. Colm McCarthy, economist, University College Dublin, and Dr. Stephen Kinsella, associate professor of economics, University of Limerick. I thank them both for making themselves available for this meeting. We have been holding our pre-consultation budget hearings since April and these have included engagement with: the Parliamentary Budget Office, PBO; the Irish Fiscal Advisory Council, IFAC; the Economic and Social Research Institute, ESRI; and the Nevin Economic Research Institute, NERI. I have just realised that this list includes just about every collection of alphabet soup one could have. We are delighted to be joined by two nationally recognised economists in order to hear their perspectives on budget 2020.

Before we take opening statements, I will attend to some of the usual housekeeping duties with our statement on privilege. I advise those in attendance of 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 this committee. However, if they are directed by the Chairman to cease giving evidence in relation to 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 nor make charges against any person or entity by name or in such a way as to make him, her identifiable. Members are reminded of the long-standing parliamentary practice members to the effect that they should not comment on, criticise or make charges against a person outside of the Houses, or an official either by name or in such a way as to make him or her identifiable.

I call on Mr. McCarthy to make his opening statement.