Rachel Reeves is gearing up to present her Autumn Budget next month, amid increasing speculation that new tax hikes could be on the horizon. At the same time, a winter program offering £25 payments when temperatures plummet is set to launch, and Ofgem will reveal whether energy bills will see a rise this winter.
Additionally, the Office for National Statistics will provide the latest inflation figures, while the Bank of England will convene to determine potential interest rate adjustments. Here are the key details you should be aware of.
To receive money through the Cold Weather Payment scheme, households must be recipients of various DWP benefits like Pension Credit, Income Support, Job Seekers Allowance, or Universal Credit. In England and Wales, this scheme will initiate on November 1, providing £25 payments when temperatures fall below freezing for seven consecutive days.
In Scotland, the Cold Weather Payments have been replaced by the Winter Heating Payment, valued at £59.75. The Bank of England is scheduled to announce its interest rate decision on November 6, with the current base rate set at 4%.
Inflation data for the 12 months leading up to October 2025 will be disclosed by the ONS on November 19, with the current inflation rate standing at 3.8%, exceeding the Bank of England’s 2% target. Ofgem will unveil the new energy price cap by November 25, impacting households starting January 1.
Rachel Reeves will unveil her Autumn Budget on November 26, with speculations hinting at a potential Income Tax increase, contrary to a prior Labour election promise. Reports also suggest changes to the cash ISA limit and Inheritance Tax gifting rules.
Lastly, Black Friday is scheduled for November 28, followed by Cyber Monday on December 1. Shoppers are advised to compare prices online using platforms like Price Spy, Idealo, and CamelCamelCamel to ensure they get the best deals.