If Wales was an independence nation, it could decrease its corporation tax by a few percent, this would then attract a disproportionate amount of businesses that wish to locate in Wales (especially from Bristol, Birmingham and Liverpool, just over the border). This would mean that per business Wales would get less money however the overall tax revenue would increase.

Wales could effectively pull an Ireland. Also what happened to Ireland in the recession wouldn't necessarily happen to Wales. Ireland did it to the UK, Monaco to France and Luxembourg to France and Germany.

Think about it, if the Welsh economy is 3 units and the English is 100 units. Welsh tax policies (corporation tax breaks) could take 3 units from England and put these offices and factories in Wales. This would double the Welsh economy and slightly impact the English.

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I'm a 22 year old marketing graduate. I live in Wales and I'm just interested in economics and politics.