The economy of an Independent Wales.

Wales wealth and how to get it,

Wales' abundance of energy. And its part in the economy.

Energy.

To recap.

An Independent Wales can raise the money to invest in its future Plan, by running a deficit.

It can sustain that deficit as a sovereign nation, with a sovereign currency.

As such, it can guarantee its financial commitments.

But not any old deficit, but managed spending to specific aims that will improve the Welsh economy and the wellbeing of its people.

Energy is the first area that government spending is to be directed.

Not just energy, but green renewable energy.

We start here for two very good reasons.

It is central to an Independent Wales economy.

The natural resources to generate such energy, exist in abundance in Wales.

This from the Engineer, a leading UK engineering publication,

The Celtic Sea and coastal water around Wales have a higher concentration of renewable energy resources, than perhaps anywhere else on the planet……..

Wales' geography, particularly tidal resources, means that every form of marine energy is abundant.

This is reinforced by initial studies by Carbon Trust, Marine Energy Wales and THe Crown Estates, which found that 14 GigaWatts of capacity was available through, Offshore Wind [ 2 GigaWatts ] Marine and tidal resources [ 8 GigaWatts ] and floating turbines [ 4 GigaWatts ], while, the Crown Estates finds, a further 20 GigaWatts potential from floating turbines by 2045.

So 14 GigaWatts  capacity were already identified before Independence. That is 50% more than Wales total energy usage, from all sources.

Wholesale energy prices fluctuate daily, the average price projection by Statsta 2024 to 2040 shows a price of £80 per MegaWatt/hr, over that period.

That would value our 14 GigaWatt capacity at £10 billion per year.