I am not sure whether the Taoiseach saw "Prime Time Investigates" on RTE last night, which made me very angry, but he can indicate whether he did. We can all be angry about people being forced to live 50 miles from where they work because they cannot afford a house any closer. However, the behaviour of the gombeen men and racketeers who give auctioneers and estate agents a bad name angered me the most because of their unethical, criminal and downright two-faced dealings with vulnerable, hard pressed and cash strapped clients. As the programme continued, it emerged that the activity being reported and shamefully exposed is the result of the Government's inaction on a number of clear failings in the industry. For example, false bidding at an auction continues quite legitimately, yet if one did this in Australia, one would be put behind bars. False information is regularly provided about the floor size of a property to make it look bigger in its description but if that happened in the US, it would be a criminal offence.

Is protection being provided for the industry that was exposed last night? Are certain activities permitted as long as estate agents, auctioneers or the Government parties receive a cut of the action at the Galway Races? It is impossible to understand how such an obvious omission in law is not being tackled by the Government. The estate agency review group recommended an independent regulatory authority. Will the Government put that into effect so that complaints can be followed up and the conflict of interest reported last night can be clearly legislated for and prevented? Will the Taoiseach introduce legislation to end false bidding and the false disclosure of information and to prosecute individuals who engage in clear breaches of data protection law similar to those exposed last night? The Taoiseach has a job to do. When will he do it?

The Deputy raised two issues. The auctioneering/estate agency review group submitted a report last year. We subsequently approved preparation of a scheme for a Bill to give effect to its central recommendations, including the key recommendation to establish a regulatory authority with licensing and consumer protection functions. That legislation is due shortly. Pending enactment of the legislation, preparatory arrangements for the establishment of the new authority are under way. A chief executive designate has been appointed and is engaged in the preparatory work. The office for the new authority is located in Navan, County Meath.

I was told today that, following last night's programme, the Data Protection Commissioner, accompanied by the Financial Regulator, has met associations representing mortgage brokers to discuss the allegations raised. I understand that the Data Protection Commissioner has taken very seriously the information brought to his attention by the programme. He has launched an investigation into the allegations of improper relationships and the disclosure of information from mortgage brokers to estate agents seeking to force extra money from bidders. This investigation began yesterday with the inspection of a mortgage broker where information pertinent to the investigation was seized and is now under examination.

These powers already exist in statute. This morning an inspection took place on the premises of the firm of south Dublin auctioneers. The commissioner reported to the Government that he is determined to use his statutory powers of inspection and enforcement to clamp down on these issues, if they are proven. He will act in close co-operation with the Financial Regulator, which authorises mortgage brokers under the terms of the Consumer Credit Act, an Act which bestows legal powers in such cases. The commissioner is calling on individuals who believe the law has been broken to report such breaches to the Office of the Financial Regulator.

The Data Protection Commissioner and the Financial Regulator have substantial powers of investigation to address this issue and are investigating the issues raised in last night's programme.

I asked a number of questions that the Taoiseach did not answer in his response. I asked when legislation will be introduced to stop false bidding and require truthful disclosure. Such matters require law, not merely independent regulation or a regulatory authority. The Taoiseach has had nearly ten years to deal with these matters.

The Central Bank suggests that house prices are over-valued by 14%. The Taoiseach has pumped up prices through various forms of property tax relief and by talking up the market. Why does the Taoiseach continue to tolerate racketeering scams when he has the power to address the matter? He could give a signal to indicate the Fianna Fáil Party will not be as welcoming of corporate donations as it has been. How much of the Fianna Fáil Party's funding comes from auctioneers, estate agents and developers who set up management companies and walk away from unfinished estates? Is an ethical yardstick used before such funding is accepted, because I think it has a bearing in this matter?

I request that the Deputy give way to the Taoiseach as time is pressing.

We must get answers to these questions as they were raised on the public airwaves. The Taoiseach referred to an independent regulatory authority but did not say when legislation will be introduced in the areas I mentioned. He has not told us when prosecutions will be taken relating to data protection, though I hope they come about soon, and he has not informed us of when we will see an end to the racketeering scams exposed on television last night.

The Deputy asked me questions, which I answered, and now he is asking me the same questions again.

The Taoiseach did not give answers.

Deputy Sargent has gone four minutes over time and he should allow the Taoiseach to speak without interruption.

I was correcting the Taoiseach as he did not hear me.

I heard what the Deputy said. If he feels the legislation at the disposal of the Data Protection Commissioner is inferior he can raise that matter, but the legislation exists. I have outlined precisely what the Data Protection Commissioner is doing.

The Taoiseach knows the legislation is inferior.

If the Deputy believes the Financial Regulator is not dealing with these matters, despite what I have told the House, he can raise that issue.

If the Taoiseach believes everything is all right we are in trouble.

I have outlined the strength of the Consumer Credit Act in this matter. Now the Opposition refuses to listen to me. I was asked about the situation regarding the auctioneering-estate agency review group and I have outlined what is happening.

The gazumping Bill from this side of the House was rejected by the Government.

I pointed out that, pending the enactment of legislation, the preparatory regulations for the establishment of the new regulatory authority are under way. The chief executive designate has been appointed and is engaged in preparatory work and the authority will be located in Navan, County Meath. Property management agents that maintain shared facilities and common areas in developments and estates are being examined. The Minister for the Environment, Heritage and Local Government, Deputy Roche, outlined in the House last week that the new licensing system that will apply to agents will improve consumer protection and bring about greater transparency in their operations.

Perhaps the Minister of State, Deputy Haughey, should look into it.

The Law Reform Commission will publish a consultation paper next week that will give an overview of problems in this area. The issues are being addressed. Legislation is pending and going through Government. The Data Protection Commissioner and the Financial Regulator are dealing with the issues raised by the "Prime Time Investigates" programme last night. They all have the necessary powers.

The Taoiseach should deal with the matter.

I am not dealing with it. I will not do the jobs of the Financial Regulator and the Data Protection Commissioner.

The Government is responsible for legislation.

There is no point in my employing these people if I do not let them do their jobs.

There is no legislation.

Deputy Sargent should allow the Taoiseach to answer and request the other members of his party to desist from interrupting and allow the Taoiseach to speak.

We are all quiet now.

For the third time, the Deputy has asked what I am doing about legislation and, for the third time, I will tell him that the auctioneering-estate agency review group submitted a report last year to Government. We subsequently approved preparation of legislation giving effect to the report's central recommendations and that legislation is before Government. Pending the enactment of the required legislation we have applied the substance of the review group's recommendations and put in place preparatory arrangements for the new regulatory authority. We have established an executive chairperson and the office is based in Navan. I hope this is clear to the Deputy.

The Taoiseach should outlaw false bidding.