Given that, in full-size practice, the water speed record has been held mainly (exclusively?) by jet-powered vessels for 50 years and more, I think one may assume that in absolute terms, jet drive is faster than screw propeller drive.
Whether this holds true also when scaled down to model size, I do not know, but it wouldn't surprise me if such were the case.
However, the specific issue here as posed by Andy seems to be which would be faster with everything else being equal, which as far as I am able to understand things (which is not very far, I hasten to add) would boil the matter down to a question of propulsive efficiency (**LINK**) i.e. what percentage of the energy put in that is turned into useful energy.
Again, I would not be very surprised if it turned out that a jet drive would beat a screw propeller drive under those circumstances, but if it is so, I do not know why, nor would I be able to offer any explanations. Hopefully, better minds than mine will come to the rescue here!
Mattias
Edited By Banjoman on 22/08/2016 10:35:11
Edited By Banjoman on 22/08/2016 10:36:31