Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

Apologies have been received from Mickey Brady MP, Colum Eastwood MP and Clare Hanna MP.

On behalf of the committee, I very much welcome Professor John Doyle, vice president for research at Dublin City University, DCU; Mr. Gareth Hetherington, director of the economic policy centre at Ulster University; and Professor John FitzGerald, adjunct professor at the department of economics in Trinity College Dublin, to discuss finance and economics.

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 of witnesses physically present or who give evidence from within the parliamentary precincts is protected pursuant to both the Constitution and statute by absolute privilege. However, witnesses and participants who are to give evidence from a location outside the parliamentary precincts are asked to note that they may not benefit from the same level of immunity from legal proceedings as a witness giving evidence from within the parliamentary precincts does and may consider it appropriate to take legal advice on this matter.

Witnesses are also asked to note that only evidence connected with the subject matter of these proceedings should be given and that they should respect directions given by the Chair and the parliamentary practice to the effect that, where possible, they should neither criticise nor make charges against any persons 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 person's or the entity's good name.

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 assure our guests that this is not the Committee of Public Accounts as they well know. We are all very friendly and are not competing with each other for space in the media. We are competing for knowledge and practical suggestions. I call Professor Doyle to make his opening statement.