Spotify price hike, energy bills announcement, free childcare applications: Key money dates for your diary this month
As April rolls into May, let’s take a look at the key money dates to add to your calendar this month.
A small note before we jump in – May is a month with a couple of bank holidays, so if any of your benefits payments would normally fall on those days, you’ll get the money on the previous working day instead.
1 May – Prescription price change
The cost of your NHS prescription, in England, increases by 25p today – from £9.65 to £9.90.
Repeat prescription customers can apply for a prepayment certificate (PPC) which charges a fixed amount for a set period of prescriptions.
However, the cost of a one-year PCC will also rise to £114.50 from £111.60 – a rise of almost £3.
If you live in Wales, Scotland or Northern Ireland you don’t have to pay for your prescriptions.
9 May – Interest rate decision
Next week, the Bank of England’s Monetary Policy Committee (MPC) will meet for its latest review of interest rates.
The MPC has decided to freeze the base rate at 5.25% over recent months.
While nothing is guaranteed, the BoE is widely expected among economists to hold the rate once again – thought to be waiting for inflation to get closer to the Bank’s 2% target.
12 May – Free childcare applications open
From 12 May, eligible working parents of children from nine-months-old will be able to register for access to up to 15 free hours of government-funded childcare per week.
You won’t be able to claim the hours until September.
Check if you’re eligible here.
15 May – Subway loyalty points changes
Sandwich giant Subway has outlined a series of measures in its branches regarding its loyalty schemes.
Customers have until 14 May to use the current scheme before it changes to a new app-only loyalty scheme.
From 15 May, any points will expire and become unredeemable.
May 24 – Energy price cap announcement
Regulator Ofgem will announce the new energy price cap for the period 1 July to 30 September.
The current price cap (£1,690 a year) is expected by analysts at Cornwall Insights to fall by just over £100 to around £1,559 for the average household per year.
Spotify hikes
As we reported in the Money blog, Spotify will hike its prices by around £2 per month…
Depending on a customer’s billing date, payment change to the higher rate will fall in either May or June.
Spotify has said it will email existing customers with one-month’s notice of the increase.
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