The economic basis for Welsh independence: part two
The economic basis for Welsh independence: part two
The data relevant to whether Welsh independence is economically viable was at first sparse, then available but flawed, but is growing increasingly sophisticated
You can read part one in the series here.
One of the most common arguments used by Unionists against Welsh independence is that Wales cannot afford to pay its own way. They repeat that Wales receives £18bn a year as a ‘handout’ from the UK, and cannot survive without this ‘subsidy’. They overlook that Wales also generates taxes and revenue, collected directly by the UK, and the £18bn is largely a return of that.
However, it’s been difficult to refute such claims as there was long a shortage of reliable data on the economic performance of Wales. There’s a huge body of economic statistics and data published by the UK Government in its National Accounts – commonly referred to as ‘The Blue Book’ – but it’s difficult for the average person to follow, let alone extract the necessary data in a Welsh context.