海角视频

The current crisis at Westminster sparked by the failed handling of Brexit has shaken up the political system in the 海角视频.

It has given rise to political movements likes the Brexit Party and put Scottish independence firmly back on the agenda.

The issue of Brexit has also highlighted the impotence of the Welsh Government in giving Wales a role in negotiating the nation's future on this crucial issue.

This and the vandalism of the has seen an increase in support for Welsh independence or at least greater law making powers for the Senedd (Welsh Assembly) in recent months.

But do the hard economic facts pour cold water over the flames of independence - with a 2016 Cardiff University report highlighting a serious imbalance between taxation revenue and government spending amounting to some 24% of GDP.

Dr John Ball, a former lecturer in economics at the School of Management, Swansea University, argued for the Institute of Welsh Affairs that this did not give the full picture.

He said it was based on a lack of accurate data and failed to take into account potential tax raising measures an independent Wales could introduce.

He said: "Without accurate data any analysis of the Welsh economy must be treated with a degree of uncertainty, although the picture painted by the Cardiff University report of a country in penury is quite clearly overstated. 聽

"Nevertheless, in all honesty and when compared to other countries, especially the small nations of Europe, Wales is聽relatively poor and this needs to be addressed.

"Wales being a relatively poor country聽now in such a wealthy part of the world is one of the core arguments for independence."

Dylan Huws, who built up independent production company Cwmni Da, based in Caernarfon, thinks independence would bring long-term economic benefits.

He said: 鈥淚 believe we can be a strong and successful European nation.

鈥淎s a country we need to take responsibility for our own future.

鈥淚 think it would give people focus. Our politicians could no longer blame what is happening on London - it is about accountability.

鈥淧eople say the economy is not in the right place for independence.

鈥淭hey would have said that about Ireland in 1916, but look at the Irish economy now.

鈥淧eople say Wales is too small but look at Iceland 鈥� it has a population of 350,000 and is a strong independent country.

鈥淚 have been in Estonia recently and seen how it is flourishing, finding its own feet and going forward with pride.

鈥淲e have to take the long view on this and take charge of our own destiny. At the moment our future is not in our hands 鈥� this has been highlighted in the Brexit negotiations.

鈥淚 believe we can do it. We have the talent and we have the drive in this country.

鈥淲e can forge our own path.

鈥淲e need to at least debate this and start a discourse on our future.

鈥淲e get this central 海角视频 message which creates insecurities about independence, especially with business, but we need to look beyond the 海角视频 at other smaller countries that are flourishing.

鈥淚t will be an interesting journey and there will be challenges. But I would rather face them and take responsibilty for our own future.鈥�

Estate agent Dafydd Hardy said he believed independence may bring short-term pain but the country could re-adjust.

He said: 鈥淭he short term could see a drop in the standard of living in Wales while the country re-adjusted to independence.

鈥淭here are countries smaller than Wales that are independent and obviously if you look at Ireland they have been successful, but I think there would be challenges.

鈥淲hen it comes to property there is the potential that if Wales successfully applied to re-join the EU after Brexit, this could actually increase demand on housing from people who want to move here - impacting on prices.鈥�

Chartered financial planner Trefor Owen-Jones said: 鈥淭hose in favour of Welsh independence has increased substantially this year.

鈥淐ampaigners for Welsh independence would probably use Ireland as an example of a poor country that became the Celtic tiger and massively increased the wealth of the country.

鈥淭his was achieved largely by attracting many multi-national companies by offering low corporate tax rates, and of course Wales has in the past been able to attract many foreign companies.

鈥淚t of course also received significant funding from the EU.

鈥淭here are many areas in Wales with difficulties, with many poor regions 鈥� Anglesey for example has an average GDP of 拢15,100 per head compared to Cardiff at 拢30,400.

鈥淭he economy is largely serviced-based with 66% of the economy, compared to 32% manufacturing and 1.5% agriculture, and of course independence would mean many 海角视频 Government Departments re-locating back to England.

鈥淐urrently Wales sets its own stamp duty rates and is receiving powers to alter income tax rates, but of course an independent Wales would have full powers regarding tax and spending.

鈥淥n average, Welsh GDP is only 80% of the 海角视频 average 鈥� however, Plaid Cymru counter this by saying Wales is richer than half the countries in Europe and most of Asia and South America.

鈥淭here would probably be an initial hit to the economy as currently, in addition to the nett 拢245m received from the EU each year and 拢4,000m received in infrastructure payment since 2000, under the Barnett formula about 拢10,000 per person is received from the 海角视频 Government.

鈥淭he dilemma for an independent Welsh government is that it would need to make up this shortfall in funding but keep taxes low enough to attract business and talent to be based in Wales.

鈥�53% of people voted to leave the EU, but ironically as an independent country it would probably benefit even more from membership of the EU, with additional funding for the poorer regions similar to the EU payments to Eastern European countries.

鈥淗owever, as a new member it would have to adopt the euro as currency and accept EU regulations regarding spending.

鈥淚f Wales became independent under the EU you would also have the same problems on the English border as currently causing the difficulties in the Brexit negotiations regarding the Irish border.鈥�

Dr Edward Jones, lecturer in economics at Bangor University, said: 鈥淚s Wales too poor to be an independent country? We know that the GVA per capita of many countries, including some in Europe, is lower than that of Wales.

鈥淗owever, Wales is relatively poor and this would need to be addressed, along with structural and technical issues, before any referendum on independence.

鈥淲ales has a significant imbalance between taxation revenue and government spending. Yet, no country in the world pays its way.

鈥淎ll countries to a greater or lesser extent run a deficit (the annual difference between government taxes and spending) and borrow to balance the books.

鈥淔or example, the United States national debt stood at a jaw-dropping 105% of GDP in 2018. This requires realism in accepting that if Wales were to be an independent country there would be a deficit. But the aim should be to reduce it to manageable proportions.

鈥淎ccurate data on the Welsh economy, and strengthening of our public institutions, is required to allow a rational discussion on the economics of independence.鈥�

Plaid Cymru鈥檚 economy spokesman, AM Rhun ap Iorwerth, said: 鈥淲ales can鈥檛 afford not to be independent. As a member of the United Kingdom and with Westminster parties in power at the other end of the M4, we are crawling 鈥� not just economically, but in terms of education, health, etc.

鈥淭hey are neglecting us, cancelling the Swansea Tidal Lagoon, cancelling the project to electrify rail lines, and so on.

鈥淎s such, independence is a necessity.

鈥淚t is also worth noting that the EU has done its part for Wales 鈥� we have received millions from the EU, but it has been Westminster who have failed us.

鈥淎s an independent nation in Europe, we would receive even more money, cohesion funding, which would be aimed at raising us to a good level of prosperity. Given all that, the economic case for independence is clear.鈥�