What Trump's Presidential Victory Might Mean to the U.S. Economy

President-elect Donald Trump has made a swathe of promises on the economy, which he claims will boost growth enormously. The policies are sometimes contradictory, however, typically lacking detail and often facing strong criticism from economists.

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President-elect Donald Trump has made a swathe of promises on the economy, which he claims will boost growth enormously.

“We have a great economic plan - we will double our growth and have the strongest economy anywhere in the world,” he said in his victory speech.

The policies are sometimes contradictory, however, typically lacking detail and often facing strong criticism from economists. Here are the key questions.

How much will he spend and borrow?

Core to the incoming President’s vision is a huge splurge in spending on infrastructure.

“I’ve spent my entire life in business looking at the untapped potential in projects and people around the world. That is what I now want to do for our country,” said Mr Trump as he set out his stall when the results came in.

“We’re going to rebuild our infrastructure, which will become second to none. We will put millions of our people to work as we rebuild it.”

He has previously complained that the country’s bridges are in a poor state, as well as pledging to spend more on roads and airports.

To finance that, Mr Trump has indicated he would spend “at least double” Hillary Clinton’s proposed $275bn (£221bn) on infrastructure, indicating more than $500bn, as well as proposing $137bn in tax credits for private firms willing to spend on construction. He has also referred to his proposals as a “trillion-dollar rebuilding plan” without backing up where the rest of the money will come from. 

At the same time he has also promised a wave of tax cuts, chopping the Federal corporation tax rate by more than half from 35pc to 15pc, as well as simplifying income tax which he said is “a tax cut for all income groups."

For more about possible effects of Trump's presidential win on the U.S. economy... 

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