Increased lending power and economic boost

Find out some ways that improved lending power could help Welsh society.

09:22 02 May 2013

Some people in Wales are looking to possibly improve borrowing power to offset their amount of income tax. The country is looking for ways to improve their financial position relative to the amount of finances which leave in the form of income tax.

 

If there is improved borrowing power, this could mean additional economic benefits from loans, not just for the country, but for individuals as well.

 

• Improved lending—loans have a way of offering benefits for the economy, and for the individuals or business entities receiving the loans. Loans taken out by the country may be put to use to assist the inhabitants with social issues and solutions.

 

• Social programmes—similar to the point above, increased borrowing power for Wales could mean more social programmes and more investments in producing jobs and financial resources for the people.

 

• Trading—improved borrowing power for loans (both for the country as well as for businesses and individuals) could mean improved trading relationships with other members of the EU. It’s possible that this would give them a slight advantage in gaining investors and in advertising their capabilities which is desperately needed.

 

• Business—this one is also related to the trading aspect. Funds could mean improved businesses, resources, advertisements, and therefore more jobs and greater financial success for more people overall.

 

• Banking—if the businesses are helped, banking also naturally benefits and thrives to produce a stronger, stable economy. This means more loans for mortgages, business start-ups, inventions, and education.

 

Improved lending power for the country could mean a bevy of benefits for business, and individuals in Wales.

 

Farmers may already be in need of assistance and perhaps loans, in particular due to the effects the weather has had such as on sheep.

 

This could stimulate the economy enough to help many people keep their financial footing.