I remind Fianna Fáil and the Government parties that there would not be a compulsion to hold by-elections within six months if Deputy Pearse Doherty had not gone to court to bring this about. The Taoiseach has been in government for two years and the number of families in mortgage arrears has almost doubled. Contrary to what he said, the Government has taken a softly, softly attitude to the banks. He did not need yesterday's report to show that the salaries of top bankers were too high, yet he is only proposing a 10% cut. The big issue is that he has given the banks a veto over any arrangements reached through the personal insolvency services. The record shows that the banks are unwilling to deal compassionately or efficiently with citizens in mortgage arrears. On top of all this, this week householders are receiving letters from Revenue about the tax on the family home. This tax was designed by Fianna Fáil and is now being delivered by Fine Gael and the Labour Party. It is a very unfair tax.

I have a little question for the Taoiseach. Who said, "Fianna Fáil's proposal, now endorsed by the Labour Party, to introduce by 2014 an annual recurring residential property tax on the family home, is unfair"?

Supported by Sinn Féin.

The Taoiseach said it. Do not give us the guff about the North. People pay rates in the North-----

Please allow the Deputy to finish his question and then we can get on with the business.

I thank the Ceann Comhairle. The fact is Deputies know that what I am saying is accurate. People in the North pay rates for which they receive services which are denied to householders in this state. I refer to refuse collections, water services, prescriptions and free schoolbooks for their children. We have in this state perhaps the largest potholes in the western world.

May we have a question for the Taoiseach, please?

It was the Taoiseach who said this property tax on the family home was unfair. Does he still accept that it is an unfair tax? If he is changing tack now, explicitly that means he is admitting failure thus far. Does he accept that his hands-off approach to the banks has failed miserably?

I do not agree. This year 65% of property tax revenue will be retained by the local authorities. The Government's intention is to bring that figure to 80% for use in the provision of services in the local authority areas where people pay their property tax. This is a fair tax, whereby those who have the most will pay the most. It has been set out to provide services in local areas. I assume the Deputy already pays tax on the premises he owns in west Belfast and that he will pay it on the house he owns in County Donegal. I assume he will also pay it on the other house in County Louth.

Like the Taoiseach.

I am sure the Deputy will not object to being a multiple property taxpayer in compliance with the law of the land and for the provision of services in his own area.

In respect of mortgages, the Minister for Finance will outline the details this afternoon. I wish to inform the Deputy that the banks do not have a veto over the insolvency legislation, nor do they have a veto over the reduction from 12 years to three.