Rachel Reeves is gearing up to present her Autumn Budget next month, amid increasing speculation that the Chancellor is contemplating introducing new tax hikes.
Additionally, a winter program offering £25 when temperatures decrease will commence, and Ofgem will reveal whether energy bills will see another increase this winter.
More updates on inflation from the Office for National Statistics (ONS) are expected, and the Bank of England will convene to determine potential interest rate adjustments.
The Cold Weather Payment scheme, providing £25 to residents in England and Wales during prolonged sub-zero temperatures, will kick off on November 1.
To qualify for this assistance, households must be recipients of specific DWP benefits, including Pension Credit, Income Support, Job Seekers Allowance, or Universal Credit.
In Scotland, Cold Weather Payments have been substituted with the Winter Heating Payment, valued at £59.75.
The Bank of England will announce its upcoming interest rate decision on November 6, currently standing at 4% after being held steady during the previous meeting in September 2025.
Inflation data for the year up to October 2025 will be disclosed by the ONS on November 19, with inflation presently at 3.8%, well above the Bank of England’s 2% target.
Ofgem is set to unveil the new energy price cap by November 25, effective from January 1, setting the average dual fuel household’s annual bill at £1,755 when paying by direct debit.
Although the price cap doesn’t cap the total energy bill, it limits unit rates for gas and electricity as well as standing charges, impacting the overall bill based on energy consumption.
Rachel Reeves will reveal her Autumn Budget on November 26, with speculations swirling around potential Income Tax adjustments and changes to savings and inheritance tax regulations.
As Black Friday approaches on November 28 and Cyber Monday on December 1, it’s advisable to compare prices online before making purchases to ensure the best deals.
Platforms like Price Spy, Idealo, and CamelCamelCamel can help track prices across various retailers, including Amazon, eBay, and supermarkets, providing insights to make informed purchasing decisions.