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Jeremy Miles’ Manifesto: Possible Benefits for Forex Traders

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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.

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News

Paul Davies calls for Withyhedge independent public inquiry

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A CALL for an independent public inquiry into the ongoing situation at Withyhedge landfill site has been made by local Senedd Member Paul Davies. Mr Davies made the call in the Senedd Chamber, whilst asking the Cabinet Secretary for Climate Change and Rural Affairs just how bad the situation had to get before the local community could receive some support from the Welsh Government.

Resource Management Ltd (RML), which operates the Withyhedge site has already been issued several Enforcement Notices by Natural Resources Wales and yet local residents are still living with potentially toxic odours and emissions.

Mr Davies said, “Week after week I have stood up in the Senedd Chamber and asked for the Welsh Government to intervene to support the local community. People have complained of coughs, nausea and swollen eyes and yet despite the sympathetic words of Government Cabinet Secretaries, there has been no support forthcoming.”

“The people of Pembrokeshire deserve better and so I’m calling for an independent public inquiry to fully understand why this situation has been so poorly handled and why my constituents have been so badly let down.”

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Farming

Simon Hart calls for a Sustainable Farming Scheme that delivers

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FURTHER delays to the introduction of new farming subsidies in Wales have met with a cautious welcome.

Following widespread protests from farmers, Welsh Labour Rural Affairs Secretary, Huw Irranca-Davies, has announced the Sustainable Farming Scheme will now be put on hold until 2026.

The decision has been welcomed by former Secretary of State for Wales Simon Hart MP. The candidate for Caerfyrddin says the Welsh government must now work closely with farmers – and not against them.

He said: “We are told this decision shows the Plaid Cymru / Welsh Labour Cooperation administration is listening to farmers concerns. In my opinion, they should have been listening to them from the get-go and these proposals should never have been included by Plaid Cymru as part of their co-operation agreement.

“Whilst I appreciate this pause gives the Welsh government more time to get this vital scheme right, it also prolongs uncertainty in an industry that is at the very heart of our economy.

“We now need to see real progress, with the Plaid Cymru / Welsh Labour cooperators working at pace, alongside people who know the industry, to deliver a scheme that brings real benefits to our farmers.”

After a series of delays, the Sustainable Farming System was meant to come into operation in April 2025.

Rules that meant 10% of land needed to be covered by woodland and 10% earmarked for wildlife habitat caused widespread protests and led to claims that 5,000 jobs could be lost from the industry.

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Community

Quadriplegic Adventurer Receives Warm Pembrokeshire Welcome

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A QUADRIPLEGIC adventurer received a warm Pembrokeshire welcome this weekend after stopping off in the county as part of a record-breaking first-of-its-kind challenge.

Geoff Holt MBE DL set sail from St Katherine’s Dock, London on 13 May, circumnavigating the UK coastline in a specially adapted Wetwheels boat in just over a month. Yesterday, Geoff and his team stopped off at Milford Haven, one of 17 accessible ports to be visited during the challenge.

This marks the first time a Wetwheels boat has ever been to Wales. The aim of Geoff’s “Finishing The Dream” challenge is to raise enough funds to house a permanent Wetwheels boat in Wales.

Geoff was paralysed in a swimming accident in 1984 and has spent 40 years in a wheelchair, facing and overcoming often unimaginable challenges. His adventurous spirit and determination have seen him achieve feats most people would consider impossible. In 2007, he became the first severely disabled person to sail single-handed around Great Britain. In 2009, he was the first quadriplegic to sail across the Atlantic Ocean unassisted.

He was awarded an MBE for Services to Sailing in 2010 and named ‘Yachtsman of the Year’ shortly after. In 2011, Geoff set up his own charity, The Wetwheels Foundation, to enable disabled people to access the sea barrier-free in purpose-built, state-of-the-art motor boats.

This is Geoff’s final adventure in his quest to raise £1.2 million for the Wetwheels Foundation to purchase four new specially adapted Wetwheels boats. These boats would offer life-changing experiences to over 5,000 of the most profoundly disabled people each year.

In Milford Haven, his team paired up with South Pembrokeshire’s Blue Horizons, an adaptive surf school that also runs accessible boat trips for people with additional needs.

Some of the CIC’s projects have included rehabilitation surf therapy for patients recovering from brain injuries in conjunction with Hywel Dda health board, taking a 96-year-old with dementia from a local nursing home out to sea, and offering surfing experiences for all through its community projects for people with disabilities.

“Last year we were fortunate enough to win the Inclusive Tourism Award at the Croeso Awards,” said Blue Horizons’ Ollie Bird. “We also made contact with a fantastic charity called The Wetwheels Foundation and Geoff Holt MBE, its founder.”

That contact resulted in a day of collaboration as Wetwheels and Blue Horizons ran boat trips out of the marina together, showing and inspiring the community with what can be possible.

“Our layover day at Milford Haven was filled with so much fun and laughter with the guys from Blue Horizons CIC Surf Club and Port of Milford Haven,” said Geoff and his team. “We ran two boat trips, full of memories that will last a lifetime,” added the Blue Horizons team.

Geoff said that for the past 40 years, the sea had been his salvation. “The freedom and independence I get when I am afloat, I can forget about my disability. I have devoted most of my life to promoting the opportunities and benefits sailing offers disabled people and now this is my opportunity to spread that message throughout the United Kingdom.”

“My biggest hope is we can inspire more disabled people to join us for an experience on Wetwheels. Hopefully, this will also inspire people to raise money to achieve my dream of acquiring another four Wetwheels boats, making a total of 12 around the UK.”

To find out more about Geoff’s Finishing the Dream mission, the Wetwheels charity, and to make a donation, visit finishingthedream.co.uk.

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