I refer to three issues regarding legislation. First, does the Minister for Finance intend to make regulations under a statutory instrument relating to the Finance (Local Property Tax) Act 2012? Section 20(6) permits the Minister to make regulations to allow local authorities to reduce or increase the local property tax by a 15% margin. Will he make such a regulation in order that local authorities can carry this out and notify Revenue of the change before the deadline at the end of September?

Second, agreement on a direct recapitalisation instrument at European level was announced yesterday. Member states will have to give effect to their own national procedures. What is proposed for Ireland? Must the Government introduce legislation to allow for the bailing out of banks when they fall into trouble and provide for the use of the direct recapitalisation instrument? Given that the instrument has been agreed at that level, have negotiations formally started on its retroactive application in order that we can get our money back?

The third issue is political reform. As a member of the banking inquiry team, I am deeply disappointed by what is happening in the Seanad. It will put the inquiry back by a number of months. An intervention is needed to stop the squabbling and bickering. Sinn Féin is excluded from all of the committees which are dealing with the issue, including the Committee of Selection and the Committee on Procedure and Privileges. The public wants this to stop and the committee to be up and running as quickly as possible.

On political reform, it was announced when the Government took office that it would facilitate the answering of parliamentary questions during the recess. This is probably more important now, given that we have moved to a budgetary cycle in line with the European semester when the budget is announced in October. Members and political parties try to prepare for the budget and usually need the summer months, particularly August and early September, to do so, but during these months they cannot receive answers from the Government. Will the Government give effect during its lifetime to this commitment to answer parliamentary questions?

We have had that discussion during the years and I assume the Deputy is referring to written replies. Replies are given practically until the end of July. If the House is not sitting, Ministers cannot be present. In fairness to the public service which goes to extraordinary lengths on occasion, it is effectively reduced in number for the month of August. Written replies are provided up to the end of July and from September. We will look at the issue.

In respect of the property tax, the legislation provides for an increase or a reduction of 15%. This measure has to be in place. Whether it requires regulations to be introduced by the Minister is something on which he will comment, but that is the intent of the law and what it means. It might not be as easy for people to fulfil all of the promises they made when the issue comes before them.

The issue of direct recapitalisation has been driven by Ireland and the €60 billion left is specifically due to Ireland's commitment to it. It is welcome that agreement was reached in the past two days on another aspect of the issue. Obviously, it means that countries such as Ireland which wish to make a claim for direct recapitalisation can do so at the end of November. Clearly, it has been an intention of Ireland to keep this issue very much in focus for the past couple of years and I am glad that agreement was reached in Brussels in the past two days.

I want the banking inquiry to happen quickly. The matter that has been a cause of some controversy in the Seanad will be dealt with very shortly.

On direct recapitalisation, does the requirement to implement national procedures necessitate legislation? Is it the intention that legislation will be introduced to give effect to this measure?

I am not sure if it requires formal legislation because we may have to react to the agreement being put in place at European level by lodging an application to be considered for direct recapitalisation. I will advise the Deputy on whether it requires regulations or legislation.