Neasa Hourigan (Dublin Central, Green Party) | Oireachtas source

Apologies have been received from Deputies Michael Healy-Rae and Cannon. Members and all those who are in attendance are asked to exercise personal responsibility in protecting themselves and others from the risk of contracting Covid-19. They are strongly advised to practice good hand hygiene and to leave at least one vacant seat between themselves and others attending. They should always maintain an appropriate level of social distance during and after the meeting. Masks, preferably of a medical grade, should be worn at all times during the meeting, except when speaking. I ask for full co-operation in this.

Before we begin, I wish to explain some limitations to parliamentary privilege and the practice of the Houses as regards references witnesses may make to other persons in their evidence. The evidence by witnesses who are physically present or by those who give evidence from within the parliamentary precincts is protected pursuant to both the Constitution and statute by absolute privilege. Witnesses are reminded of the long-standing parliamentary practice to the effect that they should not criticise or make charges against any person or entity by name or in such a way as to make him, her or it identifiable or otherwise engage in speech that might be regarded as damaging to the good name of the person or entity. Therefore, if their statements are potentially defamatory in relation to an identifiable person or entity, they will be directed to discontinue their remarks. It is imperative they comply with any such direction.

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 Houses or an official, either by name or in such a way as to make him, her or it identifiable. I remind members of the constitutional requirements that members must be physically present within the confines of the place which Parliament has chosen to sit, namely, Leinster House, in order to participate in public meetings. I will not permit a member to participate where he or she is not adhering to this constitutional requirement. Therefore, any member who attempts to participate from outside the precincts will be asked to leave the meeting.

Today we are continuing our work on the stability programme update, SPU. The report is due to be published in mid-April by the Department of Finance. It will set out Ireland’s medium-term economic outlook and fiscal plans. Its publication will indicate the beginning of the budgetary preparation for budget 2023. The committee is undertaking ex antescrutiny of the SPU in order to understand the current fiscal context, difficult though that is at the moment, to engage with stakeholders on these issues and to allow for greater parliamentary engagement and transparency to the budget process. This is the committee’s second engagement on this topic.

Today the committee will meet with representatives of the Central Bank of Ireland to discuss topics that include, but are not limited to, the following subjects: medium-term fiscal and economic outlooks, Exchequer and general Government developments and outlook, general Government debt, risks facing the economy and long-term sustainability of the public finances.

On behalf of the committee, I welcome Dr. Mark Cassidy, director of economics and statistics, and Dr. Martin O’Brien, head of division, Irish economic analysis. I thank them for being here with us today. I will hand over to Dr. Cassidy for his opening statement.