Colm Brophy (Dublin South West, Fine Gael)
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We are now in public session. Interference from mobile phones affects sound quality, so I ask that they be switched off or to aeroplane mode.

I welcome Mr. Seamus Coffey, chair of the Irish Fiscal Advisory Council. He is accompanied by Mr. Michael Tutty, Dr. Martina Lawless, Dr. Íde Kearney, Mr. Sebastian Barnes and Mr. Eddie Casey. I thank the witnesses for making themselves available to the committee. A number of other groups will later appear before the committee. The Irish Fiscal Advisory Council, IFAC, is here to consider the June fiscal assessment report, which is its main report and assesses the Department's macroeconomic forecasts and stability programme update.

I wish to advise that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of the evidence they are to give to the committee. However, if they are directed by it to cease giving evidence on a particular matter and they continue to do so, they are entitled thereafter only to 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 or entity by name or in such a way as to make him, her or it identifiable.

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 or her identifiable.

Having given that advice, which I will someday learn off by heart, I now invite Mr. Coffey to make his opening statement.