London tube passengers will face increased fares starting March 1, with peak pay-as-you-go fares in Zone 1 rising from £2.90 to £3.10. Additionally, Piccadilly line fares from Zone 1 to Heathrow will climb from £5.80 to £5.90. DLR and London Overground fares are also scheduled to go up. However, bus and tram fares in London will remain unchanged until July 5, 2026, and pay as you go caps along with Travelcard prices will not increase until 2027.
On March 3, Rachel Reeves is set to present her Spring Statement to Parliament. This statement is anticipated to be a modest event, as the Chancellor has committed to only one fiscal event annually – the Budget. Consequently, no significant tax or policy alterations are expected.
The Bank of England is scheduled to announce its next interest rates on March 19. The current base rate stands at 3.75%, after the Bank of England decided to maintain it during its previous meeting in February. This rate influences borrowing costs for individuals and businesses.
Furthermore, the Office for National Statistics will release the latest inflation data on March 25, providing insights into price changes over time. Inflation has recently decreased to 3%, potentially leading to expectations of a Bank of England interest rate cut. The Household Support Fund, which offers aid to residents struggling with bills or low incomes, will end on March 31, to be succeeded by the Crisis and Resilience Fund launching in April 2026.
For those eligible for Winter Fuel Payments, the deadline to claim is also March 31. The Warm Home Discount scheme, providing £150 off electricity bills for certain benefit recipients, will close on the same date. Similarly, the Cold Weather Payment scheme, offering £25 when temperatures hit zero degrees or below for consecutive days, will also end on March 31.