The Mirror rounds up all the big money changes coming in November 2025, including all the rumours for the Autumn Budget, a major Ofgem announcement and Cold Weather Payments
Rachel Reeves is set to deliver her Autumn Budget next month, with growing speculation that the Chancellor is considering announcing new tax rises.
Meanwhile, a winter scheme that pays £25 when the temperatures drop will also open, and Ofgem will announce whether energy bills will rise again this winter.
We’ll also have the latest inflation update from the Office for National Statistics (ONS) and the Bank of England will meet again to decide whether to cut interest rates. Here is what you need to know.
Cold Weather Payments – November 1
The Cold Weather Payment scheme, which issues cash payments of £25 to people living in England and Wales when temperatures drop below zero degrees for seven consecutive days, will open once again on November 1.
To be eligible for the money, households will need to be claiming one of several DWP benefits which includes things such as Pension Credit, Income Support, Job Seekers Allowance or Universal Credit.
Cold Weather Paymenta have been replaced by the Winter Heating Payment in Scotland, which is worth £59.75.
Bank of England interest rates – November 6
The Bank of England will announce its next interest rates decision on November 6. The base rate is currently at 4% after the Bank of England held it at this level during its last meeting in September 2025.
The base rate is what the Bank of England charges other banks and lenders – this then increases your cost of borrowing as a customer. The Bank of England meets every six weeks to decide whether the base rate should be changed or kept the same.
Inflation – November 19
The latest inflation data from the Office for National Statistics (ONS) will be released on November 19. Inflation is a measure of how prices have changed over time. This announcement will cover inflation for the 12 months to October 2025.
Inflation is currently sitting at 3.8% which is still almost double the Bank of England 2% target. At its highest point, inflation reached 11.1% in October 2022.
Ofgem price cap announcement – November 25
Ofgem will announce its new energy price cap by November 25 with the exact date still to be confirmed. The new price cap will come into force from January 1 and will remain in place until March 31.
The Ofgem price cap is currently set at £1,755 a year for the average dual fuel household paying by direct debit. This figure is used to represent the typical annual energy bill for a household with average energy usage.
However, the price cap doesn’t actually set a limit on how much you will pay for energy. Instead, it sets a limit on unit rates for gas and electricity, plus the standing charges. This means your total bill still depends on how much energy you’re using.
Budget – November 26
Rachel Reeves will deliver her Autumn Budget on November 26. We don’t know yet what exactly will be announced yet, but the rumour mill has been in overdrive.
The latest reports suggest the Chancellor has refused to rule out an Income Tax rise, in what would be breaking a key Labour election pledge.
This does not mean that tax rises are definitely on the way – as Chancellors often refuse to confirm or deny speculation in the run-up to a Budget.
The basic rate of Income Tax is 20% and this applies to taxable income above £12,570 and up to £50,270. There are reports that suggest the base rate could rise to 22%.
Other reports suggest the Chancellor could halve the cash ISA limit from £20,000 to £10,000, and change Inheritance Tax gifting rules.
Black Friday – November 28
Black Friday will take place on November 28, with Cyber Monday falling on December 1 – but deals normally start appearing before these dates. Before you part with any cash, make sure you always compare prices online first so you don’t get ripped off.
Use websites such as Price Spy, Idealo or CamelCamelCamel to track costs from thousands of different retailers, including Argos, Amazon, eBay and the supermarkets.