In March, changes in money matters are on the horizon, from increased London tube fares to upcoming financial announcements. Energy support schemes like Winter Fuel Payments and Cold Weather Payments are nearing their end for this winter. The Household Support Fund program is also set to expire, while the next Bank of England interest rates and inflation updates are scheduled for March.
London tube passengers will face higher fares starting March 1, with peak pay-as-you-go fares in Zone 1 set to rise. Additionally, Piccadilly line and other transport fares will see increases. Notably, bus and tram fares in London will remain unchanged until July 5, 2026, and pay-as-you-go caps and Travelcard prices will hold steady until 2027.
On March 3, Rachel Reeves will present the Spring Statement to Parliament, expected to be a subdued event without significant tax or policy alterations. The Office for Budget Responsibility will provide updated forecasts, focusing on growth and living cost predictions. The Bank of England will announce its next interest rates on March 19, maintaining the current rate at 3.75%.
Inflation data from the Office for National Statistics will be disclosed on March 25, showing a recent decrease to 3%. The Household Support Fund will be replaced by the Crisis and Resilience Fund in April 2026. The deadline to claim Winter Fuel Payments is March 31, with payments up to £300 available for those over state pension age.
The Warm Home Discount scheme will close on March 31, providing £150 off electricity bills for eligible recipients. The Cold Weather Payment scheme will also end on the same day, granting £25 per period of sub-zero temperatures to qualifying individuals.
