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
Officials announced for 2026 Eisteddfod in Pembrokeshire
THE NATIONAL EISTEDDFOD returns to Pembrokeshire in 2026, and organisers have named the officials who will steer this major cultural event over the next year and a half.
With the artistic and local committees already established, meetings to finalise competitions and adjudicators are underway to ensure the List of Competitions is ready by spring. Committee members have also been voting over the past weeks to elect key officials for the Executive Committee.
John Davies, former leader of Pembrokeshire County Council, has been appointed Chair of the Executive Committee. Known for his deep connection to Pembrokeshire and extensive experience with national organisations, Davies aims to make the Eisteddfod a true community event, welcoming involvement from all corners of the region.
Tegryn Jones, Chief Executive of Pembrokeshire Coast National Park, takes on the role of Deputy Chair (Strategy). With a strong passion for Welsh culture and language, Jones brings a wealth of experience working with local communities, visitors, and volunteers across three counties.
Deputy Chair (Culture) is Carys Ifan, Director of Canolfan Egin and a seasoned cultural organiser. Based in Llangrannog and originally from Llandudoch, Ifan has led numerous artistic and community projects across the region.
Cris Tomos, a community development veteran with over 30 years of experience, will lead the 2026 Eisteddfod Local Fund. Working with PLANED, a community development charity, Tomos has supported countless community enterprises and co-operatives in Pembrokeshire, Ceredigion, and Carmarthenshire.
Non Davies, recently elected as Executive Committee Secretary, brings extensive cultural management expertise as Ceredigion County Council’s Corporate Manager for Culture. Having chaired the Cardigan Local Fund Committee for the 2022 Ceredigion Eisteddfod, Davies is well-versed in managing cultural projects.
National Eisteddfod Chief Executive, Betsan Moses, said: “We’re looking forward to working with John and the team over the next few months as we prepare for the 2026 Eisteddfod.
“There’s almost a quarter of a century since the Eisteddfod was last held in Pembrokeshire, and we’re very much looking forward to returning to the area. 2026 is an important year for us as we celebrate 850 years since the first Eisteddfod was held in Cardigan Castle in 1176.
“We’re looking forward to working in a new way within a catchment area which includes parts of another two counties, which is, of course, a chance to work with local people in Ceredigion and Carmarthenshire again.”
Further announcements are expected in the coming weeks, including the sale of competition prizes and opportunities to donate the Crown and the Chair.
The National Eisteddfod will be held in Llantood from August 1–8, 2026.
News
Campaigners urge Welsh Government to adopt proportional representation for Local Elections
CAMPAIGNERS are calling on the Welsh Government to introduce the Single Transferable Vote (STV) system for local elections, following moves by two councils to shift away from the First Past the Post (FPTP) system being blocked on technical grounds.
Yesterday (Nov 14), Ceredigion Council voted narrowly, with an 18 to 17 majority, in favor of adopting STV. This follows Gwynedd Council’s decision last month, where 65% of councillors backed the move. However, both councils have been prevented from implementing STV due to a requirement for a two-thirds majority under the Local Government and Elections (Wales) Act 2021.
In recent consultations, public support for STV has been overwhelming, with over 70% in Gwynedd and 67% in Ceredigion favoring the change. Only Powys Council rejected the proposal, despite 60.5% of its respondents supporting STV. Campaigners argue that the current system deprives voters of representation, citing that over 100,000 people were denied a vote in the 2022 elections due to uncontested seats.
The Electoral Reform Society Cymru (ERS Cymru) highlights the contrast with Scotland, where the introduction of STV for local elections in 2007 has significantly reduced uncontested seats. According to ERS Cymru, Scotland has had fewer uncontested seats in the last four elections combined than Gwynedd Council recorded alone in 2022.
Jess Blair, Director of ERS Cymru, said:
“Decisions made in council chambers affect everyone in those areas, so every vote should count. It’s absurd that councils choosing STV are blocked by a technicality, leaving them stuck with an outdated system that denies representation to thousands. The Welsh Government must act to avoid repeating the undemocratic outcomes of the last elections.”
Campaigners are now calling on the Welsh Government to introduce STV across all councils in Wales, ensuring representation that reflects the electorate’s wishes.
Business
Upgrades completed at Port of Milford Haven’s simulator suite
UPGRADES have been completed to state-of-the-art equipment within the Port of Milford Haven’s navigation simulator suite at Milford Waterfront enabling marine professionals to receive bespoke specialist training. The virtual reality simulation system can safely replicate a range of scenarios that seafarers may experience in real world situations such as extreme weather conditions, emergency situations and escort tug work.
The upgrades provided by Netherlands-based company MARIN contain the latest hardware in terms of processing power and graphics, as well as upgrades to MARIN’s ‘Dolphin’ software, increasing the capability to create scenarios. These are complemented with new 4k visuals on 75” screens which increase the depth and field of vision, adding to the realism.
Recently, a training day was led by Training Pilot Captain Mark Johnson, assisted by ex-Pilot Andy Hillier, involving members of the Svitzer team as well as Pilots Matt Roberts and Ian Coombes. As part of the scenario, they were faced with a loss of engine power and steering along with worsening weather and sea conditions. The Pilots had to communicate with Svitzer in order to successfully instruct them on how to tow and direct a drifting tanker. While scenarios like these are uncommon within port operations, it is important to rehearse procedures that would be implemented if they are required and enhances participants’ skill sets.
Marine Pilot and Simulator Instructor, Captain Ewan McNicoll, said “This simulator suite has future proofed our training capabilities, both internally for Pilots and marine staff, but also externally for clients wishing to use the facility, be it for training purposes or research and development. We can create any type of scenario with any type of ship, ranging from practicing ship handling manoeuvres to emergency situations, it really is game changing! Working with our partners at MARIN has been a complete success and I am very proud of our new facility.”
For more information about training at the navigation simulation suite please contact the Port of Milford Haven at [email protected] or 01646 696100.
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