Rachel Reeves is gearing up to present her Autumn Budget in the coming month, amidst increasing speculation that the Chancellor may introduce new tax hikes. Simultaneously, a winter program offering £25 payments during temperature drops will commence, and Ofgem will reveal whether energy bills will surge this winter.
Additionally, updates on inflation from the Office for National Statistics (ONS) and a decision on interest rate adjustments by the Bank of England are on the horizon. Here’s what you should keep an eye on.
The Cold Weather Payment initiative, issuing £25 to individuals in England and Wales during prolonged subzero temperatures, will kick off on November 1. To qualify, households must be recipients of specific DWP benefits like Pension Credit, Income Support, Job Seekers Allowance, or Universal Credit.
In Scotland, Cold Weather Payments have been replaced by the Winter Heating Payment amounting to £59.75. The Bank of England will disclose its interest rate decision on November 6, currently standing at 4%.
Inflation figures from the ONS for the 12 months up to October 2025 will be released on November 19, with the current rate at 3.8%, exceeding the Bank of England’s 2% target. Ofgem will set the new energy price cap by November 25, with the current cap at £1,755 annually for dual fuel households.
Looking ahead, Rachel Reeves will unveil her Autumn Budget on November 26, with speculations abound regarding potential Income Tax increases and modifications to ISA limits and Inheritance Tax rules. Black Friday is set for November 28, followed by Cyber Monday on December 1, urging consumers to compare prices online before making purchases.
For tracking costs from various retailers, websites like Price Spy, Idealo, and CamelCamelCamel can be utilized.