I just want to say at the start that I was a bit disappointed by the joking nature of the Taoiseach's comments about drug dealing in this city.

Sorry, Deputy, is this on the Order of Business?

I was also disappointed to hear the comments made by a backbencher about "your man". The man in question, former garda John Wilson, has done a great service to this State and is not involved in a "pantomime". I think these issues should be taken seriously.

On the Order of Business, the Government has today re-announced the establishment of the banking inquiry and informed us that a motion providing for it will be brought before the House next week. I must say I am disappointed that there was no consultation with the Opposition on this announcement. We heard about it through social media and the rest. I welcome the establishment of the banking inquiry. Sinn Féin has strongly pushed for an inquiry to take place. Does the Government have a timeframe for the banking inquiry? When will it start? When will it finish?

Following the conclusion of the Anglo Irish Bank trial, which will allow the banking inquiry to go ahead even if there is another trial to take place, has the Government considered overhauling the white collar crime legislation? During the lifetime of this Government, hundreds of our citizens have gone to prison for not paying fines but not one banker has gone to prison yet. Will a commission be asked to investigate or overhaul white collar crime? Will some type of action be taken here? No one was held accountable following the Moriarty tribunal. No one has been held accountable in a real or meaningful way following the banking trials. The inquiry that is being established will be unable to hold certain people to account in the way the public wants them to be held to account. Does the Government intend to take some action in this regard, or merely to allow this to die away?

First of all, I withdraw any remark that might have given a perception of a "joking nature", as the Deputy put it. I respect absolutely the right of people to come forward with information about wrong-doing. That is why the legislation is being treated with the respect it deserves. I hope the Deputy understands that.

Regarding the banking inquiry, the Deputy is aware that the inquiries legislation, which will give us an opportunity to do this, has gone through. It was not a matter for the Government to put this in place, but the Government triggered the issue of having an inquiry and allowing for that to happen with the Committee on Procedure and Privileges and the relevant committees. This will be a new special Oireachtas committee comprising Members of the Dáil and the Seanad. The Whip will sit down with Opposition Members to discuss the structure, membership and nature of the committee. It will be a matter for the committee to define its own terms of reference in what it needs to do here. Obviously, comments have been made about three modules - the lead-up to the bank guarantee, the issue of the banks themselves and the State institutions. It will be a matter for the committee, when it has been appointed by the House and by the Committee on Procedure and Privileges, to define what those are. The Deputy asked when the banking inquiry committee will actually get down to business and start doing work. He will be aware that there is a pretty serious amount of preparatory work to be done here.

I assume the banking inquiry, through the system, could be operational by the end of September or October. It should be finished its preparatory analysis by then. It is important for everybody to find out what happened, and the truth and the impact of light regulation by the previous Government. The Whip will consult the Opposition and we hope to bring a motion before the Dáil and Seanad next week and get on with the business.

And the white collar crime overhaul?

The Attorney General has asked the Law Reform Commission to examine issues in that regard. As part of its terms of reference, the committee will be able to define the work and business of the institutions and banks. There are issues surrounding that in which the committee will have an interest.

I welcome the fact the banking inquiry is being established. The public feels it is necessary and the timing is right. Could the Taoiseach elaborate on the timeframe in which he envisages the committee sitting, the modular approach and his overall view on how the committee should work?

It will be a matter for the committee once it has defined the inquiry's membership, its terms of reference and how it proposes to deal with the different modules. Depending on the timescale the committee wishes to give it, it may wish to examine the lead-up to the bank guarantee. It may wish to treat of the banks and institutions of the State and their responsibilities and roles individually or together. That is a matter entirely for the committee and the members to define the terms of reference, with approval from the Committee on Procedure and Privileges, CPP, and given the authority by the Dáil. We will follow that from the motions before the House next week. As I said, I expect the committee could be up and running by late September or early October, having gone through detailed and complex preparatory analysis.