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Lord Saatchi: 'Abolish corporation tax for small businesses'

17 June 2014 Last updated at 01:17 BST

The Conservative peer, Lord Saatchi, has produced a plan to abolish corporation tax - the tax payable on a firm's profits - for small companies.

Speaking to Jeremy Paxman on BBC Newsnight, Lord Saatchi explained his view that cutting the tax would slash the deficit faster than levying it.