Liam Twomey (Wexford, Fine Gael)
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We will begin our review of the fiscal assessment report, September 2012. From the Irish Fiscal Advisory Council, I welcome Professor John McHale, chairman, Professor Alan Barrett, council member, Mr. Sebastian Barnes, council member, Dr. Donal Donovan, council member, and Mr. Diarmaid Smyth, chief economist. I understand that Dr. Róisín O'Sullivan is unable to attend today's meeting and sends her apologies. Ms Eimear Leahy, economist and Ms Rachel Joyce are also in attendance. Professor McHale will make some opening remarks, which will be followed by a questions and answers session. I remind members, witnesses and those in the Visitors' Gallery that all mobile telephones must be switched off.

I wish to advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to this committee. If witnesses are directed by this committee to cease giving evidence in relation to a particular matter and they continue to do so, they are entitled, thereafter, only to a qualified privilege in respect of their evidence. Witnesses 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 or make charges against any person, persons or entity by name, or in such a way as to make him or her identifiable. Finally, members are reminded of the long-standing ruling of the Chair to the effect that they should not comment on, criticise or make charges against a person outside the Houses or an official by name or in such a way as to make him or her identifiable.