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JOINT COMMITTEE ON FINANCE AND THE PUBLIC SERVICE debate -
Wednesday, 21 Nov 2007

Business of Joint Committee.

I remind members to ensure their mobile phones are switched off for the duration of the meeting. This is important as it causes serious problems for the broadcasting, editorial and sound staff. Members are also reminded of the long-standing parliamentary practice to the effect that members should not comment on, criticise or make charges against a person outside the House or an official by name or in such a way as to make him or her identifiable.

Are the draft minutes of the joint committee meeting of 1 November 2007 as circulated agreed? Agreed. No. 2 is the approval of the draft travel report. We might defer this as Deputy Mansergh has not yet joined us. No. 3 is the draft work programme, which has been circulated and which we will go through in a moment. I am aware of suggestions from members and they are a matter for the committee to consider. Do members want me to go through the programme item by item or have they done so themselves? The first item in the programme relates to the Irish Banking Federation and the Law Society and concerns the policy of banks in regard to loans and behaviours. The second concerns advertising by banks and their support for small businesses. Does the committee consider it appropriate to discuss those matters? Has anybody any comments?

I wrote to the Chairman to suggest we invite the review group on higher remuneration to come before the committee. That group has recently published a report setting out recommended pay increases, which have been adopted by the Government. There is an important issue surrounding the way these reports are put together. Where there are substantial increases in public pay there has to be linkage between the awards and improved performance. The review group, as the Chairman knows, conducted a review of the performance bonuses earned by senior public servants. While diplomatic in its presentation it was highly critical of the way the bonuses worked. It indicated that everybody seemed to receive a bonus, even though they were supposed to be for exceptional achievement. In addition, everybody seemed to receive an award close to the mean.

A number of issues arise. On the last occasion benchmarking was paid, many felt the linkage between the payment of increases on the one hand and reform and improved delivery on the other was not particularly well established. Now there has been another review of pay and there has again not been sufficient effort to link pay to something which delivers a benefit to the taxpayer. This is a good opportunity for us to invite the review group. I know the Government has adopted the recommendations in the report but if we do not look beneath reports of this nature to ascertain whether they square up to the challenges of modern public service we will have failed in our duty as a committee which, in accordance with our remit, is to examine areas with major implications for public policy. It is now timely to look at such issues and I suggest we invite the review group to come before us as a priority.

We will also want to look at other issues and Deputy O'Donnell told me he has suggestions in that regard. As well as making a long list, we need to decide what we must address as a priority, so that we are current and topical and seen to respond to issues as they break.

I thank the Deputy. I have included his letter in the correspondence which was circulated to members. The subject he raised is an appropriate one for discussion at the committee. The committee must decide on the priority it gives to the issue.

I support Deputy Bruton's call, which is timely and important. In regard to the Chairman's points 1 and 2, the Central Bank of Ireland's stability report has just been published. In light of the crisis in international markets, coupled with the fact that the share price of banks has fallen by 50% in recent months, it is important that we invite the chairman of the Central Bank of Ireland to give us an account of the situation in the context of the stability report. The CEO of the Financial Regulator should also attend to give an account of its prudential supervisory role over the banks. It is important for the committee to delve into the issue of regulation to ensure there is security and proper supervision over all the markets. Coupled with innovative products we have the danger that certain matters could be unregulated. We need to use the template of the Central Bank's stability report.

I presume the Deputy is referring to the Governor of the Central Bank.

The Governor has appeared before the committee in the past and it would be a good idea for him to come here again.

Representatives of the Financial Regulator should also attend.

I support the two previous propositions. While there is no great urgency, I have two ideas that might be worth considering at some future date. The question arises as to whether it falls within the ambit and terms of reference of the committee. It arises out of yesterday's events in Britain regarding the personal data files that were lost by the government. I believe the matter comes under the remit of the Chancellor of the Exchequer in Britain, which is why it might come under the remit of this committee. It may be worthy of research. It has caused enormous concern in Britain and it might be worth the committee's while investigating whether the procedures and protocols here are sufficiently robust to protect us against such a happening.

Following what Deputy O'Donnell said, my second point relates to the turbulence in the international financial markets, particularly as it relates to the credit issue. We have had one example in the past week of a major financial house in serious difficulty. The committee might consider the matter at some future date.

I am impressed by the suggestion of representatives of the Financial Regulator and perhaps other regulators appearing before the committee. I am concerned that in our efforts to protect our citizens we over-regulate. I would like to think that an impact assessment is carried out whenever we are tempted to regulate. As I do not believe that is being done, I would welcome the opportunity for representatives of the Financial Regulator and perhaps other regulators in the financial area to appear before the committee. I sense that we are in danger of damaging our competitiveness by over-regulating and there are signs of us doing that.

I support the suggestions for the regulator to appear before the committee. Extraordinarily Ireland appears to have come out very strongly in the recent upheavals in markets. We want to see stability in the marketplace continue. The Central Bank should ensure that mortgage lending and borrowing in general are stress tested and held within strict criteria, which was not undertaken in other jurisdictions. It is a misnomer to call an imprudent loan "sub-prime". It is mis-selling, which has not happened here.

Deputy Bruton made a good suggestion, although I am intrigued regarding the Taoiseach. In his case as in the case of all previous taoisigh we have expected him to move the national issues forward. Whereas enormous progress has been made by the Taoiseach and previous taoisigh in moving the national question forward, we expect more from our Taoiseach than just management of an economy. We expect him to run a country. It will be intriguing to see how it is benchmarked. In my opinion, we have got extraordinary service from taoisigh.

Are there any further contributions?

I support the suggestions made by my two colleagues. In view of the very significant drop in shares in the financial institutions, it is vitally important that we allay the fears of the public. Whether we like it or not, people are saying that something must be wrong. They have noticed that shares in Bank of Ireland have almost halved and shares in Allied Irish Banks are continuously going down. In any economy, fear can have as significant an effect as confidence. It is time for us to try to put a halt to any fears that exist. We should give people the confidence they need to move forward. I would like the regulator and the governor of the Central Bank to be invited to address the committee. It might not be any harm to ask representatives of the Irish Banking Federation to come here to give us additional information about the banking institutions.

I would like the Chairman to address a further point before the end of this month. In last year's budget and the subsequent Finance Bill, the Minister for Finance imposed an obligation on people who hold approved retirement funds. There is a requirement this year that 1% of each fund must be taken out. It is not clear how that will be achieved in the cases of people who have three or four funds, one of which might not be doing as well as the others. In such circumstances, one would imagine that the 1% would be taken from each fund, but it seems that 1% from the total amount can be taken from a single fund. It is not clear how it should happen. Perhaps the committee can hear the views of the Department about how, in practical terms, this money will be taken out. It is not wise to take money from a fund that is not doing too well when it could be taken from a group of funds. If one has €500,000 in four funds, is the 1% of the €500,000 taken from a single fund, or is it taken proportionately from each of the four funds? That is the point I am trying to make.

I will seek clarification from the Department and get back to the Deputy.

I will be pleased if the Chair can do so because it is of interest to the public. A few people have mentioned it to me.

There may be a need for further investigation.

People are being notified by each of the institutions in which they have invested their funds that they must take 1% of the value of the fund out of the fund. They are having to go through the rigmarole of filling forms for tax purposes, etc. It does not make sense to me. If the total value of one's funds is a certain amount, one can quite easily take 1% of that amount out. It should not have to come from all of one's funds. I hope members understand the point I am making.

I agree very much with the first part of Deputy Barrett's contribution. At a time when there is a great deal of uncertainty and fear, we have to establish confidence. Senator Quinn may have a point in what he said about regulation. I am not sure that this is the right time to reduce regulation. People need to know that the safety net which is in place is working and that there is proper regulation. It is clear that regulation proved absolutely inadequate in what one might call the "solicitoring" profession. I support regulation. A delegation from the credit unions addressed the joint committee a few months ago. I would like the committee to maintain its dialogue with the credit unions, which play an important role in many people's finances.

That is No. 13 on the list.

I too would welcome the opportunity to speak with the Financial Regulator about sub-prime lending in Ireland, to seek assurances that this is not an issue and that the banks are not exposed in the housing market, particularly with the downturn in the economy.

Deputy Bruton wished to speak again on this subject.

The monitoring committee on the national development programme will be established next month. Would it be possible for the Chairman to request that the committee receive the reports on the NDP so that we would see the physical and financial progress on different projects? Everyone recognises that the delivery of this programme in a timely and cost-efficient manner is crucial. The committee should be party to the reports so that we could discuss issues of concern if appropriate.

Certainly. It is good that the committee wishes to consider topical and current matters. While we have a duty to deal with many mundane matters, it is important that we also deal with topical and current matters. All the issues being raised by committee members are to be welcomed. The committee secretariat will write to the individual institutions and individuals to seek suitable dates for them to attend.

I remind members that while we must attend to mundane business we must also consider important matters. For instance, we discussed with IBEC areas of the tax harmonisation and common consolidation corporate tax base. This is a matter of national interest which should be on the agenda and should be the subject of committee hearings. Bodies such as IBEC should be invited to attend in order to present their perspective on the possible damage to the economy in the event of any change. I ask that committee members keep that subject to the fore.

Carbon tax is also an important issue for discussion. This is a new issue which must be dealt with. There is talk of other committees dealing with the subject of regulation. However, we should continue to deal with regulatory authorities until we are told not to as this has been the committee's remit to date.

Deputy Bruton referred to the national development plan. I suggest we hold hearings on this subject because it is of national interest. We should also consider dealing with the credit unions. I will suggest we hold special meetings on particular issues, otherwise we could become buried in reports as has often happened to other committees in the past. A committee such as this should deal with current and topical issues. I welcome the proposals and any other proposals from committee members. They are welcome to raise any matter at a meeting or to write to the committee secretariat.

Is it agreed that the clerk to the committee will write to the different bodies and persons referred to seeking suitable dates for them to attend? Is it agreed that we will then draw up an agenda to dovetail with those arrangements?

Will the Chairman request that the committee be given the reports on the NDP which are sent to the monitoring committee? We will then be in the loop of information.

That request is noted.

On a point of administration, when the committee is writing to the Governor of the Central Bank or the Financial Regulator would it be possible to set a timeframe for when they should appear before the committee? What would be the usual procedure?

There has usually been a reasonably speedy response from those bodies in the past. We will ask them to consider the earliest suitable date. I do not think we need to go any further at this stage.

In the current circumstances it is very important they attend soon.

The committee secretariat will issue letters as soon as possible.

I now revert to No. 2 which is a draft travel report for consideration. It relates to the European and national parliaments meeting with the Chairmen of budget committees. The subject of the meeting is the political vision of the European Community's budgetary review, key future policies and spending priorities and the reform of our own resources system. Deputy Mansergh attended on behalf of the Chairman and he has compiled a comprehensive report. I invite Deputy Mansergh to give an overview on that report.

Approximately 20 member states were represented at that meeting. Based on my experience, I consider it worthwhile for this country to be represented there, both to articulate the country's views and interests, but also to see and observe what are the balance of forces among other member states.

The discussion was a general one about priorities for the budget in the coming years, but also with a strong eye as to what will be the position post-2013 when the next six or seven year package is put together. The views among member states ranged from, at one pole, the French who strongly defended the budget and wanted budgetary leeway to be used, and also to address new priorities, to the British who scarcely saw the need for a budget at all, except perhaps to pay for the salary of a couple of regulators. The Swedes and the Dutch were in the British camp where the main emphasis was on budgetary control, and they were supported to a lesser extent by the Germans who wanted to see more balance and fairness in the contributions.

The Irish, the French and the Poles were pretty well the only ones to speak in favour of the Common Agricultural Policy. Quite apart from the interests of the farming community here, who despite greatly increased Exchequer funding, still depend on the CAP, overall we would be big net contributors to the EU budget if the CAP was taken out of the equation. Certainly after this budgetary period expires, when the Border, midland and western region will no longer qualify to the same extent for Structural Funds, our principal net gain from the Community will be very little without the CAP.

The point was made quite forcibly that although people talk about a lot of new priorities, as things stand, there is very little budgetary room for doing much. The French rapporteur in the European Parliament put it very well when he described the EU as a budgetary or financial dwarf but a regulatory giant. Perhaps Senator Quinn has views about regulatory giants. This is a most significant point with a view to a forthcoming debate on the referendum on the reform treaty.

It is often said that we would endorse a European federal superstate if we went along with this or that treaty. The point was made that federal states in general have budgets of at least 20% of GDP when we are talking about slightly less than 1%. I have done my best in debates, as have others, to out the utter absurdity of a super state that has a budget of about 1% of GDP. I have tried to include in my report, as faithfully as I could, the points I thought were of interest and relevance to this country. I urge on the Minister, and other members of the committee who will attend other meetings, that it is valuable for us to be represented because the budgetary economic debate at European level is very relevant to many concerns Ireland has.

I thank Deputy Mansergh for his report which has been circulated. Is it agreed to approve the report? Agreed. Is it agreed that the report be laid in the Oireachtas Library? Agreed.

The Department of Finance has asked for feedback from this meeting. Is it agreed that the committee forward this report to the Department for its information? Agreed.

The next item on the agenda is correspondence. Nos. 2 to 6, inclusive, are invitations to events that have already taken place. Is it agreed to note them? Agreed. Nos. 7 to 9, inclusive, are bulletins from the Central Bank. Is it agreed to note them? Agreed. Nos. 10 and 11 are concerned with departmental annual reports. Is it agreed to note them? Agreed. Nos. 12 to 15, inclusive, are magazines and bulletins. Is it agreed to note them? Agreed. No. 16 is a report on freedom of information. Does the committee wish to discuss this report?

I understand we have a statutory obligation under the Freedom of Information Act to receive this report and examine certain aspects. The Freedom of Information Commissioner has also reported her concerns and has suggested some changes which have not been acted upon. It would be appropriate, therefore, to list this for consideration.

Is that agreed? Agreed.

No. 17 is a report on decentralisation. Does the committee wish to discuss this report?

This report is somewhat dated now. However, the issue is extremely relevant.

Decentralisation is on the draft agenda.

Do we know when the next report is due?

We can find out. If it is due soon we will await it. In the meantime the subject is on our draft agenda. We will note it for the moment. Is that agreed? Agreed.

No. 18 is an annual report from the Financial Regulator. It is proposed to note this correspondence. Is that agreed? Agreed. No. 19 is a pre-budget submission from the Combat Poverty Agency. I propose to forward this to the Joint Committee on Social and Family Affairs. Is that agreed? Agreed. Nos. 20 and 21 concern correspondence concerning the consideration of votes during the 29th Dáil. Is it agreed to note them? Agreed.

No. 22 concerns endowment mortgages. Deputy McGuinness has corresponded with the committee on this matter. Is it agreed to reply to Deputy McGuinness stating the committee will consider putting the issue on the new work programme? It may already be included on our work programme. Is it agreed to write to Deputy McGuinness stating that it is on our work programme? Agreed. No. 23 is a letter from the Financial Regulator confirming that an investigation has been conducted and a settlement reached in the matter. It is proposed to note this correspondence. Is that agreed?

This report dates back to last March. The case concerned an individual who, I understand, suffered substantial loss. A financial adviser was sanctioned by the Financial Regulator but the loss continued. It appears that the liability extended only to the person who mis-sold the product and not to the product provider. The conclusion is that the individual who was sanctioned had been a member of a company which, it was thought at the time, might still be engaged in financial affairs. The individual retired from the company and the regulator is now saying the matter does not come under the regulatory ambit of the Financial Regulator. The consumer was left high and dry, having had a product mis-sold in some way. Should there not be some bonding arrangement for individuals who enter into an arrangement in good faith? A very respectable financial company provided a product whose performance was inaccurately described when it was sold, leaving the individual high and dry. There appears to be a gap in consumer protection if no one is responsible for a salesman or for the way a product is sold. In the case of a package holiday there would be a bonding arrangement and money would be refunded, but in the case of something far more important than a package holiday a person appears to be left high and dry.

I suggest that we write to the consumer director in the office of the Financial Regulator and ask for her perspective on the loss which appears to have been incurred by this individual and whether codes of practice or bonding systems should be introduced to deal with situations such as this. The case gained some notoriety at the time because the individual appeared to have been very harshly treated.

We can do that. I remind the committee that all M.I.S. Financial Services Limited clients have been transferred to another regulated financial services provider. The Financial Regulator confirms that all parties co-operated with the examination and the matter is now closed. However, we can write, as Deputy Bruton suggests.

That is a different point.

It is a different point.

I accept the point you are making. In so far as the present regulation applies, they acted properly. The issue is the possible gap in the regulatory system. We may be told the principle of caveat emptor applies in this situation. We should, at least, be informed.

Is Deputy Bruton's proposal agreed to? Agreed.

While I am glad we are to discuss the issue--

We will not discuss the issue. The matter is for noting. We will merely write to the office of the Financial Regulator and when we receive a response we will consider further discussion. The matter was dealt with in detail and the Financial Regulator has informed us that all sides co-operated and are satisfied with the outcome.

On that basis, the issue has been substantially dealt with by the market. Where mortgages were taken out over a 20 year period they were often mis-sold on the basis of the surpluses that might have been available. There then appeared to have been shortfalls, which today would be considered small amounts but which would have been significant 20 years ago. However, an alternative was available as almost all endowment mortgages could be bought independently. Advertisements appeared in newspapers for people wishing to take them up.

I do not believe that Senator Hanafin and I are speaking about the same case. The seller of this was sanctioned but breached a settlement. This was not an endowment mortgage product that had a deficit at the end of the relevant period.

We are dealing now with No. 23. We have already dealt with No. 22 and will deal with it further as part of our work programme. Deputy Bruton has raised an issue in respect of No. 23, discussion on which is effectively closed. The committee has agreed to write to the organisation involved. We can deal with the matter again under correspondence. Is that agreed? Agreed.

No. 24 is a letter from the Office of Public Works containing further information in respect of issues raised by the select committee at its meeting on 28 March 2007 to consider Vote 10. Is it agreed to note this correspondence? Agreed.

No. 25 is a letter from the Minister for Finance regarding pensions payable to retired prison officers prior to 1993 and stating that to change the current arrangements in respect of the treatment of rent allowance would have serious cost repercussions in the public sector generally. This letter should be associated with No. 39 from the Association of Retired Prison Officers widows asking that the committee honour a commitment given by the previous Dáil with regard to pursuance of its claim. Do members wish to request the Minister of Finance to meet with a delegation from this committee to discuss the issue further?

Members of the former committee will recall that the group concerned made a submission to it. One of the decisions of that committee was that the Chairman would arrange a meeting with the Minister for Finance. We have a letter in this regard. I believe we should honour the decision to seek a meeting with the Minister for Finance. I suggest that the Chairman be accompanied by a representative from the Government and Opposition parties. Is that agreed? Agreed.

No. 26 is a letter from the Revenue Commissioners in response to representations from Deputy Seán Fleming regarding the tax affairs of an individual. Is it agreed to forward this correspondence to Deputy Fleming for his information? Agreed. No. 27 is a reply from the Minister for Finance in respect of the VAT treatment of charities. It is proposed to forward this correspondence to the Irish Charities Tax Reform Group which made the original submission. Is that agreed?

Sorry, I missed what the Chairman said. To what are we agreeing?

I am seeking the agreement of the committee to forward the Minister's reply to the Irish Charities Tax Reform Group which made the original submission. The group can respond on the matter to the committee if it so wishes.

All we are doing is forwarding the reply to that group.

Yes. It will then be a matter for the group to come back to us.

As I understand it, this was a reasonably innovative attempt by the Irish Charities Tax Reform Group to come up with a system that would have limited exposure for the State but would develop over time into a refund. The group was not seeking a one-off refund. I know the Minister has effectively rejected this proposal. We should in replying to the group invite it to comment on the Minister's reply. I am sure the issue will arise again during our consideration of the Finance Bill. Those of us wishing to table amendments to that Bill should at least have the benefit of its reaction.

We will suggest in our reply that we are open to receiving a response from the group. Is that agreed? Agreed.

No. 28 is a reply from the Financial Regulator regarding the issue raised by Deputy John McGuinness relating to the pensions scheme of a company in County Carlow. Is it agreed to forward the correspondence to Deputy McGuinness for his information? Agreed.

No. 29 is a reply from the Department of Social and Family Affairs regarding a representation made by the committee on behalf of an individual relating to carer's benefit. The Department has replied directly to the individual involved and it is proposed therefore to note this correspondence. Is that agreed? Agreed.

No. 30 is a submission received from an individual promoting his consultancy firm. It is proposed to hold this correspondence on file for further information. Is that agreed?

I am not too sure what the Chairman means when he says we will hold it on file for further information.

It is just a submission at the moment. We are not in the position of promoting consultancy firms. We will hold it on file and perhaps at some stage the committee will take a decision on a consultancy firm.

I understand. I was concerned at the suggestion that we hold it on file for further information.

It will depend on how successful we are in extracting a good budget. Is it agreed that we will hold it on file? Agreed.

I cannot see the letter in the pack provided.

It is not in the pack. If at some stage we are to take a decision on the matter, obviously it will be made available. No. 31 is a travel item, which we will consider in the discussion on upcoming travel. No. 32 is a letter from an Irish individual living in the United States of America referring to a complaint against an Irish bank. This is the type of issue we should not discuss unless we are in private session. It is proposed to write to the individual concerned advising referral of the complaint to the Financial Services Ombudsman to investigate. If that does not resolve the matter and it comes back to us we could discuss it in private session at some stage. Is that agreed? Agreed.

Nos. 33 and 34 concern travel and we will deal with them when we come to that matter on the agenda. No. 35 is a letter from Deputy Bruton suggesting that the review group on higher remuneration should appear before the committee. We have already agreed that will be part of our work programme. No. 36 is a letter from the Government Whip informing committees that supplementary estimates will be referred to the committee on 27 November and must be considered by 12 December. It is proposed to note this correspondence. Is that agreed? Agreed.

No. 37 is the annual report and information note of the European Court of Auditors. It is proposed to note this correspondence. On No. 38, that matter is in hand and we have a representative here at the meeting. No. 39 has already been discussed with No. 25.

No. 5 on the agenda relates to travel by members of the committee. The committee has received an invitation to attend the Eurofi conference on achieving the integration on European financial markets in a global context in Brussels on 3 and 4 December. We have suggested that two members and the Chairman should attend. Is that agreeable to the committee? Agreed. We will leave it to the Whips of the two sides to agree on who should attend.

An invitation has been received for the Chairman to attend an interparliamentary meeting on budgetary control on 18 and 19 December. Is that agreed? Agreed.

We have a further invitation for the committee to attend a meeting of the European Parliament Committee on Economic and Monetary Affairs on 22 and 23 January. Is it the wish of the committee to be represented at this meeting? If it is, we should approve up to three members to attend. Is that agreed? Agreed. I will leave it to the Whips to pick one from each side and the Chairman along with somebody from the secretariat.

Why is there such a significant disparity in the air fares?

I expect it has a little to do with Santa Claus.

It is also at the higher rate at the end of January.

There are difficulties in getting flights. We could travel halfway around Europe to get to Brussels. If we want to get a direct flight from Dublin to Brussels, which I think would be appropriate--

I accept the need for a direct flight. The cost of the flights on 3 and 4 December is €366.81, whereas the cost of the flights at the end of January is €1,500.

All we can put before members, as things stand, is an estimate of the cost of travel. We have not made any final bookings. The officials dealing with travel will get the best deal possible. The figures given to members are general estimates. The cost may turn out to be smaller when the bookings are made. We will get the best deal possible.

Are members given an index of the committee's correspondence? Do I understand correctly that No. 4 refers generally to correspondence, which is then added to the file as an appendix?

Has the Deputy not been given all the correspondence? Does the Deputy have the document?

Is the correspondence listed?

The Deputy should have the document I have.

Could the document be laid out in a different way? Perhaps the first page of it could reference the various matters listed within the document.

Yes. We will see if we can accommodate the Deputy's wishes.

I am merely making an observation.

The traditional way of informing members of the committee has been to--

We could be a little innovative.

I understand what Deputy O'Donnell is saying. It would be easier to follow the Chairman - I would have a better chance of doing so - if Nos. 1, 2, 3, 4, etc., were stamped on each document.

We need reference numbers.

I was not able to follow the Chairman.

We will look at that. We will try to be as accommodating as possible.

Before I move on to any other business, I would like to remind members about the forthcoming visit of a delegation from the National Assembly of Serbia. An e-mail has been circulated to all members notifying them that the Oireachtas will host a visit from members of the National Assembly of Serbia between 26 and 30 November, at the request of the Parliamentary Assembly of the Council of Europe. All members of the Serbian delegation have expressed their interest in meeting members of this committee. A one-hour meeting has been arranged for 12 noon on Thursday, 29 November. Members will be notified of the venue in due course. Several members have indicated their desire to attend the meeting. I would like as many members as possible to do so.

When is the meeting?

It will take place between 12 noon and 1 p.m. on Thursday, 29 November. A note to that effect will be circulated. An e-mail has already been sent.

The joint committee adjourned at 3.25 p.m. sine die.
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