London tube passengers will face higher fares starting March 1, with increases in Underground ticket prices. For instance, peak pay-as-you-go fares in Zone 1 will go up from £2.90 to £3.10. Piccadilly line fares from Zone 1 to Heathrow will also see a rise from £5.80 to £5.90, along with increases in DLR and London Overground fares.
However, bus and tram fares in London will remain unchanged until July 5, 2026, while pay as you go caps and Travelcard prices will stay frozen until 2027.
The upcoming Spring Statement by Rachel Reeves on March 3 is expected to be a more subdued event due to the Chancellor committing to just one fiscal event annually – the Budget. Consequently, no significant tax or policy alterations are anticipated.
On March 19, the Bank of England will announce its next interest rates decision, with the current base rate set at 3.75%. This rate influences borrowing costs for individuals, set by the Bank of England for other banks and lenders.
In addition, the latest inflation data from the Office for National Statistics (ONS) will be released on March 25. The inflation rate, measuring price fluctuations over time, was reported to have dropped to 3% in the most recent update, fueling expectations for a potential Bank of England interest rate cut.
The Household Support Fund is scheduled to conclude on March 31, to be replaced by the Crisis and Resilience Fund launching in April 2026. The Warm Home Discount scheme, offering a £150 electricity bill deduction, will also close on March 31, requiring eligibility through specific benefits.
Lastly, the Cold Weather Payment scheme, providing £25 payments during prolonged cold spells, will end on March 31, benefiting low-income individuals and those receiving certain benefits.