I can give that reassurance. They will not be affected by the legislation. Credit unions have two types of income on which corporation tax could be charged. There is no corporation tax charge on their trading income, as I have set out, and their investment income will fall outside the Northern Ireland regime, as
does investment income for every other business. In that sense, credit unions will be unaffected. I hope that the hon. Lady is reassured. If building societies carry out excluded trades, they will be treated as they are currently and the Northern Ireland regime will not apply. That is based on the principles that were agreed with the Northern Ireland Executive. The Northern Ireland corporation tax regime is about trading profits. If something is not a trading profit, it will not fall within the Northern Ireland regime. We are applying that consistently. As it happens, credit unions do not pay corporation tax on their trading profits anyway, so they will not be adversely affected.