What would Donald Trump’s economic policy look like, and how does Hillary Clinton’s compare? by Peter Spence.

Clinton is a supporter of increasing the size of government. She prefers higher spending and taxation, and regulation, with plans for new initiatives in schooling, infrastructure, energy and health care.

Trump says he is in favour of the opposite. However, he has yet to clarify how precisely he plans to cut back the state. The Republican candidate has said that he will reduce taxes and cut wasteful spending – but has failed to provided details on which taxes and what spending.

Clinton’s proposals also lack coherence. Michael Levy, chief US economist at Berenberg, says that her “long list of new spending initiatives and sizeable tax increases add up to favorable budget deficit outcomes”.

Sounds like the usual contest of the last several decades. The left wants yet bigger government, and the right says it doesn’t (but rarely cuts the size of government when it is in power).

Clinton is campaigning for greater taxes on high income earners, and opposes corporate tax inversions — where companies shift their tax base outside of the US via the purchase of an international competitor.

Trump would prefer to focus on a drastic simplification of the tax code. In contrast to Clinton, he wants to slash the headline rate of corporate tax from 35pc to 15pc.

Again, the usual stuff. Vote Clinton to definitely get more of the same; vote Trump and you might get something quite different.

hat-tip Matthew