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
Restoration of a pond hopes to support biodiversity in Pembrokeshire
AN OLD millpond at the heart of the Wallis and Ambleston community, and a site of Special Scientific Interest, has now been improved to benefit water quality and increase biodiversity in an area of South Wales, thanks to funding from Nestlé Waters UK.
Wallis Pond was created in 1836 as part of the tributary of the Wester Cleddau River to supply water to a local mill. Back in 1978, it was restored and later re-opened by HRH King Charles III, the then Prince of Wales.
Over the years, the pond had become completely silted up, restricting the waters passage and the pond’s ability to retain water, resulting in a reduced diversity of habitat in and around the millpond.
Pembrokeshire County Council, Heavyside Landscapes and Nestlé Waters UK have come together to restore the millpond with regulatory guidance from Natural Resources Wales and support from the Ambleston Community Council.
The project saw the pond re-dug and de-silted, and the old sluice gate replaced to re-establish the millpond. With the pond now able to hold more water, it is hoped to help build resilience to the increased frequency and intensity of storm events, alleviating the risk of flooding in the local area.
Retention of flows in the pond for a longer time should help reduce silt build-up and prevent nutrients such as phosphates and nitrates from travelling downstream in the Cleddau catchment, helping to protect water quality, improve aquatic habitats, and encourage eels, otters, damselflies, and other wildlife species.
Restoration of Wallis Pond is one of the projects that Nestlé Waters is working on as part of its efforts to help regenerate local water cycles and create a positive water impact everywhere the company operates.
Matthew Faulkner, Factory Manager at the Nestlé Waters site in Princes Gate, said: “We are proud to be a part of the Wallis Pond restoration work, aimed at delivering long-lasting benefits in Pembrokeshire, where we bottle at source Princes Gate and Nestlé Pure Life waters. This beautiful landscape is not only our home, but also home to some incredible flora and fauna which are vital for keeping the area rich and thriving in biodiversity.
“We’re working hard to protect this land and the water beneath our feet. Water is a shared resource and a shared responsibility, and caring for it takes the whole community. That’s why we’re grateful to be working with partners on this project that will hopefully have a positive impact on the local ecosystem and community.”
Cllr Rhys Sinnett, Cabinet Member for Residents’ Services at the Pembrokeshire County Council, said: “We welcome this funding to enhance the biodiversity in Wallis Pond which can be enjoyed by the residents of Ambleston, the wider communities in Pembrokeshire and the visitors to our fantastic county.
“This is an excellent example of partnership working that has significant benefits for the environment and the wellbeing of generations to come.”
Eirian Forrest, Clerk at the Ambleston Community Council, said: “We are grateful to Nestlé Waters UK for the funding and wish to thank everyone who has been involved in this project, especially the Pembrokeshire County Council team, for pushing the project forwards.
“The Community Council are delighted that the work has finally been done and look forward to the positive impact it will have on biodiversity. We have already received many positive comments from members of the community. The improved pond encourages locals to take a walk around the area, as well as sit down to watch and enjoy the wildlife.”
Community
£1.7m to support families and individuals facing food poverty
FAMILIES and individuals across Wales struggling with the cost of food will receive vital support this winter through £1.7m of additional funding from the Welsh Government. This funding will provide help to those most in need and back community projects working to prevent and tackle food poverty in the longer term.
The funding will:
provide emergency food aid by helping local groups to store and distribute food to people who need it most, while also addressing the underlying causes of food poverty;
support FareShare Cymru by purchasing equipment to store and deliver fresh food during the winter months and running food education activities to help low-income families and individuals manage rising costs; and
strengthen food partnerships in every local authority area in Wales, helping them to address local needs and ensure resources reach those facing the greatest challenges.
The Wales-wide funding will be announced today at Cegin Hedyn community kitchen in Carmarthen. Cegin Hedyn, a Pay What You Can Canteen and Community Kitchen, is part of a network of organisations tackling food poverty, and works with Carmarthenshire Food Partnership, Bwyd Sir Gâr Food.
Bwyd Sir Gâr works closely with groups and initiatives across the region to provide targeted support to those who need it most.
Cegin Hedyn ensures that everyone can have access to fresh, organic, seasonal produce, with produce being grown steps away in their Community Allotment. Bwyd Sir Gâr Food has also been providing vegetables, grown at Bremenda Isaf farm in Llanarthne, to Cegin Hedyn and has been offering mentoring and support to the volunteers at the allotment.
Cegin Hedyn is run by chef Deri Reed. He said: “This funding is a lifeline for communities like ours, ensuring that we can continue to provide fresh, nutritious meals to those who need them most while building a more sustainable and inclusive food system. At Cegin Hedyn, we believe in the power of food to bring people together and create positive change.
“This support will help us expand our reach, grow more organic produce locally, and strengthen the food partnerships that make a real difference in tackling food poverty in Carmarthenshire and beyond.”
Food Sense Wales works closely with Bwyd Sir Gâr and Food Partnerships across Wales to help create sustainable solutions to enable everyone to enjoy healthy and sustainable food.
Katie Palmer from Food Sense Wales said: “By strengthening its support for food partnerships across Wales, the Welsh Government is recognising the importance of building resilience in local food systems – both in terms of diversifying local supply chains, and by building and organising assets and civil society in a way that is unique to the needs of the local community.”
The Cabinet Secretary for Social Justice, Jane Hutt, said: “No one should have to worry about how they’re going to put food on the table. As a government, we are committed to tackling food poverty and ensuring support reaches those who need it most.
“This new £1.7m package of funding will provide both local relief to those struggling with food costs and lay the groundwork for longer-term solutions to prevent food poverty. By supporting emergency aid, food education, and local partnerships, we are addressing this crisis from all angles.
“Local food partnerships are vital in this effort. They work with inspiring projects, like Cegin Hedyn, which not only provides meals for people, but also brings people together and supports the wider community. Their efforts show what can be achieved when local groups and wider networks come together to support those most in need.”
The additional funding builds on the £2.8m the Welsh Government has already allocated to help address food poverty this year, and brings the total to more than £24m invested in this area since 2019.
Community
Safe, warm, and connected: community hubs helping communities this winter
SAFE, warm, and connected: community hubs helping communities this winter
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Safe and warm hubs are providing vital support this winter, offering welcoming spaces for people to stay warm, connect with others, and access advice and services during difficult times.
In the aftermath of Storm Darragh, which left many households without power, these community hubs have become a lifeline. Developed locally to meet local needs, Warm Hubs also offer practical support, including advice on debt and welfare entitlements; opportunities to try new activities and form friendships; and information about financial and community services.
This week, the Cabinet Secretary for Social Justice, Jane Hutt, visited the safe and warm hub in Llanddewi Velfrey in Pembrokeshire to meet volunteers and to thank them for their dedication.
Lynda Hill, representing Llanddewi Velfrey Village Hall Committee, has volunteered at the hub since 2002 helping to manage the hall and organise events.
She said “We are particularly grateful for the help from the Warm Rooms initiative as it helps us to help those in our community who are in most need. Many homes in this area lost their electricity and water for quite a long time during and after Storm Darragh. Fortunately, this didn’t affect the hall so we opened to provide access to a warm space where anyone could use cooking facilities, toilets, charge their phones, and connect with others when they may have otherwise been isolated.
“Listening to stories of other halls and community initiatives whose representatives attended the meeting, it was inspiring to hear the huge range of support that is available across Pembrokeshire. We all want people to know we’re here throughout the winter, and that the Warm Rooms hubs provide a warm and friendly welcome for people of all ages and background.”
Across Wales, safe and warm hubs also offer practical support, including advice on debt and welfare entitlements; opportunities to try new activities and form friendships; and information about financial and community services.
In October, the Welsh Government announced £1.5m in funding to ensure hubs can continue their crucial work this winter.
The Cabinet Secretary for Social Justice, Jane Hutt, said: “Hubs, like the one in Llanddewi Velfrey, are a great example of communities coming together to support one another during tough times. Volunteers are at the heart of these spaces, creating a warm and inclusive welcome for people in need.
“We know the winter months can be difficult for many, which is why we’re doing all we can to alleviate financial pressures and maximise incomes. Our investment in safe and warm hubs forms part of a wider package of support to help people through the cost-of-living challenges.”
Pembrokeshire Association of Voluntary services has been instrumental in channelling the funding for warm spaces and hosts a regular forum for those involved with community buildings, which is invaluable for sharing ideas and experience.
Other Welsh Government initiatives to help communities this winter, include:
the Welsh Benefits Charter to remove barriers to claiming benefits;
£30 million for the Warm Homes programme to improve energy efficiency in lower-income households;
an extra £700,000 for the Fuel Bank Foundation to help those who pre-pay for their fuel and are at risk of disconnection – building on the £5.6m provided since 2022; and
an additional £1.7m to support families and individuals facing food poverty, building on the £2.8m the already allocated this year, bringing the total to more than £24m invested in this area since 2019.
For advice on financial support, people can contact the Advicelink Cymru ‘Claim What’s Yours’ helpline on 0808 250 5700.
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