London tube passengers will experience an increase in fares starting March 1. Peak pay-as-you-go fares in Zone 1 will rise from £2.90 to £3.10. Additionally, Piccadilly line fares from Zone 1 to Heathrow will go up from £5.80 to £5.90. DLR and London Overground fares will also see an increase.
However, bus and tram fares in London will remain unchanged until July 5, 2026, and pay as you go caps and Travelcard prices will stay frozen until 2027.
The upcoming Spring Statement by Rachel Reeves to Parliament is scheduled for March 3. This statement is expected to be less eventful compared to the Budget, focusing more on updated forecasts from the Office for Budget Responsibility regarding growth and living costs.
On March 19, the Bank of England will announce its next interest rates decision. The current base rate is 3.75%, as announced during the Bank of England’s last meeting in February. This rate impacts borrowing costs for individuals.
Inflation data from the Office for National Statistics will be released on March 25. The latest figures show a decrease to 3%, potentially leading to expectations of a Bank of England interest rate cut.
The Household Support Fund is set to end on March 31, to be replaced by the Crisis and Resilience Fund launching in April 2026. Winter Fuel Payment claims are due by the same date, offering up to £300 to those over state pension age.
Lastly, the Warm Home Discount scheme will close on March 31, providing a £150 electricity bill discount for eligible recipients. Cold Weather Payments, worth £25 for each period of extreme cold, will also end on the same date, benefiting those on low incomes or receiving certain benefits.