News
Jeremy Miles’ Manifesto: Possible Benefits for Forex Traders
Jeremy Miles, the prominent figure vying for the position of Wales’ next first minister against Vaughan Gething, has recently revealed his comprehensive manifesto, outlining a vision for sustainable economic growth. His proposals include initiatives that cover a wide range of sectors, from housing and healthcare to education and transportation. While his proposed changes are intended to increase the well-being of Welsh citizens, the implications can extend to wider economic spheres, even affecting the forex (foreign exchange) market. As a forex trader, it’s essential to anticipate the market’s movement if Jeremy Miles becomes Wales’s first minister. Let’s take a closer look.
Homes and the Rent-To-Own Scheme
One of the key proposals from Jeremy Miles is the rent-to-own scheme, which will allow renters to become homeowners. Allowing individuals to transition from renters to homeowners by building up a lump sum towards a deposit while renting their home can increase the number of homeowners in Wales. The Shared Ownership scheme also allows individuals to buy property shares and pay rent on what remains.
The rent-to-own scheme can benefit those trading forex because it will stimulate activity in the real estate market, eventually affecting currency valuations tied to housing sectors. Increased demand for housing due to the rent-to-own scheme can lead to higher property prices and construction activity. These reflect economic conditions and investor sentiment that forex traders monitor.
Also, increased consumer spending on homeownership can increase currency value due to interest rates and inflation expectations. The changes in the real estate market can lead to positive developments like increased homeownership rates and stable housing markets, which attract foreign investment and improve investor sentiment and risk appetite.
Economic Changes and Business Support
Source: Suzy Hazelwood via Pexels
Jeremy Miles is also moving towards providing financial incentives for new and recent graduates to set up businesses in Wales. He will be pushing a ‘Make It In Wales’ campaign to attempt to bring Welsh people living in other countries back home. His focus is to create quality and sustainable jobs, innovate the rural economy, and place emphasis on AI, biotech and sustainability.
The incentives for entrepreneurship among graduates will lead to job creation and economic growth, which can impact currency movements. Entrepreneurship also has different economic benefits, including being advantageous to forex traders. This is because it leads to higher economic activity and consumer confidence, all of which are indicators for forex traders to consider.
It will also improve the balance of payments in Wales, which is a critical determinant of the currency value. As businesses expand and unemployment reduces, it leads to higher exports and lower imports and attracts foreign investments for a more robust local currency.
Education
Miles has highlighted the importance of education in his manifesto, as he aims to increase the standards and investment in schools. He has promised to increase the percentage of the Welsh government budget spent on schools.
This can benefit forex traders because increased spending on education can boost investor confidence in Wales as a sign of a government’s commitment to economic growth. With investors gaining confidence, they are more likely to invest in its currency, which can influence its standing in the forex market. A growing economy also leads to higher interest rates, attracting foreign capital that can benefit forex traders.
At the same time, it’s important to note that Miles’ plan to increase spending on education can lead to the Welsh government borrowing additional funds to finance these initiatives and impact inflation expectations, which will put downward pressure on the currency and affect forex traders in this way.
Transportation Infrastructure
Source: Burak The Weekender via Pexels
Furthermore, Miles emphasised the importance of investing in infrastructure, especially transportation. His plans include developing integrated rail and bus services and proposed initiatives to reduce congestion on major roadways.
Improving investment in transportation infrastructure can enhance connectivity and facilitate trade, which are indicators closely monitored by forex traders for their impact on currency values. Miles has mentioned that investment will be needed in rail and public transport and that he can finally use Wales’s fair share of the High Speed 2 (HS2) investment.
The expected increased investment in transportation infrastructure projects can influence the trade balances, which will appreciate the domestic currency and benefit forex traders.
UK Re-Joining the EU Single Market
Forex traders will be strongly impacted if Jeremy Miles achieves his goal of pushing the UK to rejoin the EU single market after the country left during Brexit. In his recent interviews, he supported the idea, saying that he would strongly advocate for this with Sir Keir Starmer, the labour leader, if he became the first minister of Wales.
The UK’s potential re-entry into the EU single market will be a positive development for forex traders, as it can make the GBP more stable and strengthen it against other currencies, boosting investor sentiment, economic growth and forex trades. However, remember that negotiating this can cause the currency market to be volatile in the interim.
Can Forex Traders Be Confident in Jeremy Miles’ Manifesto for Wales?
Jeremy Miles’ manifesto has outlined ambitious proposals to foster sustainable economic growth and solve societal challenges in Wales. The implications will extend to other economic spheres like the forex market. It’s recommended for forex traders to closely monitor the developments in Wales since, if Jeremy Miles wins, the potential impact on currency valuations and trading opportunities will be significant.
Community
Two hundred years of railways: ‘Railway 200’ launches in Aberystwyth
WALES is geared up to mark 200 years of passenger rail travel this year as the UK marks the historic anniversary of the advent of the modern rail.
As part of the celebrations, a launch event is being held in Aberystwyth today, kicking off a year of events around the country.
Dr Louise Moon, Transport for Wales’ Railway 200 Programme Lead said it was exciting to be showcasing Wales’ history as well as promoting the innovations that are taking place now.
She said: “We’re incredibly excited to be sharing so much of our history across Wales within our communities, telling the stories of innovation, grit and determination.
“Railway 200 celebrates so much of our social and cultural history and how the railways transformed our country and made it what it is today.
“Towns like Aberystwyth grew massively with the arrival of the railway so it’s great to be launching the year of events here.
“We want to inspire a new generation not just with our proud history but through science, technology and innovation that is taking place right now as we are going through the next major transformation of our network which will connect future generations within Wales.”
While the milestone marks 200 years since the first passenger steam journey on the Stockton & Darlington Railway in September 27, 1825, Wales can rightly claim a huge part in the build up to that historic journey.
In 1804 Cornish engineer Richard Trevithick designs the Pen-y-Darren locomotive which pulled 10 tonnes of coal 10 miles from the Pen-y-Darren Ironworks in Merthyr Tydfil to Abercynon.
And then in 1807, the Swansea and Mumbles Railway saw the world’s first fare paying passengers, with horses pulling their carriage along the rail tracks, proving a widely popular experience.
Transport for Wales is writing its own chapter in that history electrifying the core valley lines in south east Wales, building new stations and depots, and making an £800 million investment in new trains.
As part of the wider plans to tell the story of Railway 200 across the UK, four main themes will be explored.
· Skills & Education
· Innovation, Technology & Environment
· Heritage, Culture & Tourism
· Celebrating Railway People For more information visit https://tfw.wales/railway-200
News
RNLI urges public to stay safe as Storm Éowyn hits Wales
STORM ÉOWYN is set to bring strong winds across the UK, with an amber weather now in place for warning for parts of Wales on Friday. The Royal National Lifeboat Institution (RNLI) is urging those near the coast to be aware of the dangers the stormy weather could bring.
The Met Office has issued a yellow weather warning for wind from today (23 January), covering much of the UK with gusts of 50 to 60mph expected across part of Wales. Storm Éowyn is expected to bring very strong winds and widespread disruption on Friday when the amber warning is in place for north Wales.
For those who plan to visit the coast this Friday and Saturday, the strong gusts pose a significant risk to safety and the lifesaving charity is urging the public to exercise extreme caution, particularly along exposed cliffs, seafronts and piers.
Chris Cousens, Regional Water Safety Lead for Wales says: ‘Storm Éowyn is set to bring potentially dangerous and uncertain conditions so we’re asking the public to stay vigilant.
‘If you plan to visit the coast, the RNLI advises that you stay a safe distance from the water as conditions could knock you off your feet or wash you into the sea. It is not worth risking your life.
‘If you find yourself in trouble unexpectedly in the water, remember to Float to Live; lie back in the water, extend your arms and legs and try to relax as best as you can until you get control of your breathing.
‘If you see someone else in danger in the water, call 999 or 112 and ask for the Coastguard. If you have something that floats that they can hold on to, throw it to them. Don’t go in the water yourself – you could end up in difficulty too.’
The RNLI’s safety advice is:
- Stay well back from stormy, wintery seas and cliff edges
- Check the weather forecast and tide times before you go
- Take a phone with you
- In an emergency, call 999 or 112 and ask for the Coastguard
News
Two local musicians awarded four-figure bursaries from Menter Rhosygilwen
Two leading musicians are to receive funding totalling £8,000 thanks to a new music bursary launched by Menter Rhosygilwen.
Cardigan pianist Raph James and Pembrokeshire trumpeter Carys Wood are both to receive £4,000 of funding spread over the next two years, after receiving offers to continue their performance studies at two of the UK’s top music colleges.
Raph, who is taught by Pembrokeshire-based pianist Sarahjane Absalom, has been accepted by both the Guildhall School of Music, London and the Royal Northern College of Music, Manchester, while Carys has been accepted by both the Royal College of Music and the Royal Academy of Music, London.
“This is the first year that we’ve launched the bursary, and its aim is for young people in Dyfed who have been accepted to study at a music academy,” explained Glen Peters, owner and director of Menter Rhosygilwen.
“This year the standard was so high that we were compelled to award it to two students rather than one, and as a result we’ve increased the bursary from £6,000 to £8,000.”
Raph, who recently gained his Associate of the Royal Schools of Music performance diploma with an exceptionally high score, is also the current Young Musician of Dyfed after wowing judges with his outstanding performance at Rhosygilwen in 2024. He is a Year 13 student at Cardigan Secondary School where he is currently preparing for A levels in maths, physics, and chemistry. He will commence his performance studies at the Guildhall School of Music in September.
Carys Wood is a sixth form student at Haverfordwest High School. In 2024 she reached the last 50 televised rounds of the BBC Young Musician and in September she will commence her undergraduate studies at the Royal Academy of Music in London.
Raph and Carys will officially receive their bursaries at a special awards ceremony at Rhosygilwen in April.
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