London’s Tube passengers will face higher fares starting March 1, with increases set to take effect. For instance, peak pay-as-you-go charges in Zone 1 will climb from £2.90 to £3.10. Similarly, Piccadilly line fares from Zone 1 to Heathrow will rise from £5.80 to £5.90, along with increases in DLR and London Overground fares.
On the other hand, 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.
Rachel Reeves is scheduled to present her Spring Statement to Parliament on March 3. The Chancellor has committed to a single fiscal event annually—the Budget—so the Spring Statement is expected to be relatively subdued, without significant tax or policy alterations.
The Bank of England is slated to announce its next interest rates on March 19, with the current base rate standing at 3.75%. This rate influences borrowing costs for individuals from other banks and lenders.
Additionally, the latest inflation figures from the Office for National Statistics are due on March 25. Inflation, a gauge of price fluctuations over time, recently dropped to 3%, potentially leading to expectations of another interest rate cut by the Bank of England.
The Household Support Fund is set to conclude on March 31, to be replaced by the Crisis and Resilience Fund launching in April 2026. Meanwhile, the deadline to claim Winter Fuel Payment is also March 31, with payments worth up to £300 for individuals above state pension age.
The Warm Home Discount scheme, offering a £150 reduction on electricity bills, will close on March 31. Eligibility for this scheme is based on certain benefits, with automatic application in England and Wales, while application is required in Scotland for most benefits other than the Guarantee Credit element of Pension Credit.
Lastly, the Cold Weather Payment scheme, providing £25 for every seven consecutive days of zero degrees or below temperatures, will end on March 31. These payments target low-income individuals receiving specific benefits or Support for Mortgage Interest, with automatic allocation in most cases.