Micheál Carrigy (Longford-Westmeath, Fine Gael)

I wish to advise members of the constitutional requirements that members must be physically present within the confines of the Leinster House complex to participate in our public meeting.

Today's engagement is with the Central Bank of Ireland and the Economic and Social Research Institute, ESRI. I thank the witnesses for coming here today. Last week, the committee considered some of the many challenges faced in respect of the delivery of housing with the County and City Management Association. I am pleased we have the opportunity to consider this and related matters with representatives of the Central Bank and ESRI. From the Central Bank, I welcome Dr. Robert Kelly, director of economics and statistics, and Dr. Mark Cassidy, director of financial stability. From the ESRI, I welcome Dr. Conor O'Toole, associate research professor, and research officers Dr. Rachel Slaymaker and Dr. Paul Egan.

Before we start, I wish to explain some limitations to parliamentary privilege and the practice of the Houses with regard to references witnesses may make to another person 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. Witnesses are reminded of the long-standing parliamentary practice 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 respect of an identifiable person or entity, they will be directed to discontinue their remarks. It is imperative that they comply with any such direction.

The opening statements have been circulated to members in advance. I now invite Dr. Kelly to make his opening remarks on behalf of the Central Bank.