This month a raft of measures are being rolled out that could affect your finances, from £500 fines for cat owners, to changes in the benefits system.
From June 1, immediate changes have been made for those claiming Housing Benefit, who will now be asking to switch to using the Government’s Universal Credit support payment.
And from next Monday, a new law will come into play requiring all pet cats over 20 weeks old to be microchipped. Anyone caught flouting the rules after a 21-day grace period has passed could be hit with a £500 fine.
In the space of two days later in June, two major movements in the economy should come to light. On June 19, the Office for National Statistics will release inflation data just 24 hours before the Bank of England makes a decision on interest rates.
But According to Sky News Money, experts predict Threadneedle Street isn’t likely to lower the rate from 5.25 percent until August.
Junior doctors seeking a pay increase of a whopping 35 percent will begin five days of strikes on June 27, in what some have criticised as cynically politically motivated industrial action.
Health Secretary Victoria Atkins blasted the strike as “a highly cynical tactic”, and added: “The BMA junior doctors have already received a pay increase of up to 10.3 percent.”
During the strikes, those who have time are advised to check their meters as a new energy price cap will fall by £122 annually. It’s thought energy providers will automatically make adjustments, but getting a meter reading could help.
But on a brighter note, King Charles III will appear on bank notes entering circulation officially for the first time on June 5.
The Bank of England said in a statement: “The portrait of the King will appear on existing designs of all four banknotes (£5, £10, £20, and £50), with no other changes to the existing designs.
“Banknotes that feature the portrait of Her late Majesty, Queen Elizabeth II will remain legal tender and will co-circulate alongside King Charles III notes.
“The new banknotes will only be printed to replace those that are worn and to meet any overall increase in demand for banknotes. Our approach is in line with guidance from the Royal Household, to minimise the environmental and financial impact of this change.”
