In the latest Budget, The Mirror has compiled a list of important dates to remember for the implementation of major changes.
1. Alcohol prices will increase: Starting from February 2026, alcohol duty will go up by 3.66% in accordance with Retail Price Index (RPI) inflation. This hike will result in an additional 11p for Prosecco, 13p for red wine, and 38p for gin per bottle, as reported by the Wine and Spirit Trade Association.
2. Rail fares frozen: Despite the usual annual rise in April, rail fares in England will remain unchanged until 2027, as confirmed by the Chancellor. This year, regulated ticket prices surged by 4.6%.
3. Removal of two-child benefit cap: From April 2026, the restriction on claiming Universal Credit or Tax Credits for a third or subsequent child will be eliminated.
4. State pension increase: In April 2026, the state pension will rise by 4.8%, elevating the full new state pension from £230.25 to £241.30 per week.
5. DWP benefit adjustments: Most benefit payments will increase in April 2026, following the previous September inflation rate. The Universal Credit standard allowance will witness a more substantial rise.
6. Car tax hike: Car tax rates will escalate in line with RPI inflation from April 2026, affecting most cars registered in the UK post April 1, 2017, with a standard annual rate of £195.
7. Energy bill reduction: Starting April 2026, Rachel Reeves plans to slash £150 from the average energy bill by scrapping the Energy Company Obligation scheme.
8. Minimum wage boost: From April 2026, the minimum wage for workers aged 21 and above will increase by 4.1% to £12.71 per hour.
9. NHS prescription prices maintained: The cost of NHS prescriptions, which typically rise annually in April, will remain steady at £9.90 per item.
10. Ending of 5p fuel duty reduction: The 5p per liter reduction in fuel duty will continue until September 2026, after which it will gradually revert back.
These changes reflect the evolving financial landscape and impact various sectors of society.