London commuters using the Tube will experience higher fares starting March 1, with increases set to take effect. For instance, peak pay-as-you-go fares in Zone 1 will go up from £2.90 to £3.10.
Additionally, fares on the Piccadilly line from Zone 1 to Heathrow will rise from £5.80 to £5.90. There will also be fare increases on the DLR and London Overground services.
However, bus and tram fares in London will remain unchanged until July 5, 2026, and pay-as-you-go caps and Travelcard prices will be frozen until 2027.
Meanwhile, Rachel Reeves is scheduled to present the Spring Statement to Parliament on March 3. As the Chancellor has committed to conducting only one fiscal event a year, the Spring Statement is expected to be a relatively low-key affair without significant tax or policy alterations.
The Bank of England is set to announce its next interest rates on March 19, with the current base rate at 3.75%. This rate influences borrowing costs for individuals from banks and lenders.
On March 25, the latest inflation data from the Office for National Statistics will be released. In a recent update, inflation was reported to have dropped to 3%, potentially leading to expectations of a Bank of England interest rate reduction.
The Household Support Fund is due to end on March 31, to be replaced by the new Crisis and Resilience Fund launching in April 2026. Residents who have not yet received their Winter Fuel Payment should submit their claim by the same deadline.
The Warm Home Discount scheme will also conclude on March 31, providing eligible individuals with a £150 reduction on their electricity bills. Automatic payments will be made to qualifying individuals in England and Wales.
In Scotland, automatic payments are limited to those receiving the Guarantee Credit element of Pension Credit, while others must apply through their energy supplier.
Finally, the Cold Weather Payment scheme will close on March 31, offering a payment of £25 when temperatures drop to zero degrees or below for seven continuous days. Automatic payments are typically made to those on low incomes receiving specific benefits or Support for Mortgage Interest.