Richard O'Donoghue (Limerick County, Independent Ireland Party)

I ask everyone to turn off their mobile phones and devices or to put them on silent.

Before we begin, I wish to explain the limitations to parliamentary privilege and the practice of the House as regards references witnesses may make to other persons in their evidence. Witnesses are protected by absolute privilege in respect of the presentation they make to the committee. This means that they have an absolute defence against any defamation action for anything they say at the meeting. However, they are expected not to abuse this privilege. It is my duty as Chair to ensure that this privilege is not abused. 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 that they comply with any such direction.

This afternoon's engagement forms part of our pre-budget 2026 scrutiny and engagements. I welcome Dr. Tom McDonnell, co-director, and Mr. Ciarán Nugent, economist, from the Nevin Economic Research Institute. The committee welcomes the opportunity to engage with both witnesses and I thank them for being here today. I now invite them to make an opening statement.