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- The Welsh fiscal balance is the difference between general government revenues and expenditures in Wales. From 1999 to 2022, Wales has carried a fiscal deficit as public spending in Wales exceeded tax revenue. For the 2018–19 fiscal year, the fiscal deficit is about 19.4 percent of Wales's estimated GDP, compared to 2 percent for the United Kingdom as a whole. All UK nations and regions except for East, South East England and London have a deficit. Wales' fiscal deficit per capita of £4,300 is the second highest of the economic regions, after the Northern Ireland fiscal deficit, which is nearly £5,000 per capita. Some state that the deficit is not a Welsh deficit as Wales does not have significant powers over taxation and does not set its own budget, in that the UK Government holds many of these fiscal powers. According to political scientist John Doyle of Dublin City University, the fiscal deficit in the "early days" of an independent Wales would be approximately £2.6bn. This equates to under 3.4% of GDP, which compares to an average of 3.2% for countries in the Organization for Economic Co-operation and Development in 2019. (en)
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- The Welsh fiscal balance is the difference between general government revenues and expenditures in Wales. From 1999 to 2022, Wales has carried a fiscal deficit as public spending in Wales exceeded tax revenue. For the 2018–19 fiscal year, the fiscal deficit is about 19.4 percent of Wales's estimated GDP, compared to 2 percent for the United Kingdom as a whole. All UK nations and regions except for East, South East England and London have a deficit. Wales' fiscal deficit per capita of £4,300 is the second highest of the economic regions, after the Northern Ireland fiscal deficit, which is nearly £5,000 per capita. (en)
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- Welsh fiscal balance (en)
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