London tube passengers will see an increase in fares starting March 1. Peak pay-as-you-go fares in Zone 1 will rise to £3.10 from £2.90. Additionally, fares on the Piccadilly line from Zone 1 to Heathrow will increase from £5.80 to £5.90. DLR and London Overground fares will also be raised.
However, bus and tram fares in London will remain unchanged until July 5, 2026. Pay as you go caps and Travelcard prices will also be frozen until 2027.
Rachel Reeves is scheduled to present the Spring Statement to Parliament on March 3. This event is expected to be low-key, with no significant tax or policy modifications, as the Chancellor has committed to only one fiscal event per year, the Budget.
On March 19, the Bank of England will announce its next interest rates decision. The current base rate stands at 3.75%, maintained during the Bank’s last meeting in February. This rate influences borrowing costs for individuals from banks and lenders.
The Office for National Statistics will release the latest inflation data on March 25. Inflation, which measures price changes over time, had decreased to 3% in the most recent update. Forecasts from the Office for Budget Responsibility will provide insights into growth and living costs, indicating the government’s progress.
The Household Support Fund, offering aid to residents struggling with bills or low incomes, will end on March 31. It will be replaced by the Crisis and Resilience Fund launching in April 2026.
For those eligible, the deadline to claim Winter Fuel Payment is also March 31, with payments of up to £300 available for individuals over state pension age. Additionally, the Warm Home Discount scheme, providing a £150 reduction on electricity bills, will conclude on the same date.
Lastly, the Cold Weather Payment scheme, which grants £25 for each period of sub-zero temperatures lasting seven consecutive days, will also end on March 31. This payment supports individuals on low incomes or receiving specific benefits, automatically awarded in most cases.