Money blog: Tipping rule changes begin tomorrow - what you need to know (2025)

The largest education union in the UK has voted to accept the government's 5.5% pay rise for teachers in England.

In a snap poll, 95% of National Education Union (NEU) members who responded accepted the 2024/25 offer.

Around 300,000 state school teachers were asked to vote. The turnout was 41%.

Schools will receive £1.2bn of additional funding in the 2024/25 financial year to help cover the costs as part of the deal, according to the NEU.

General secretary Daniel Kebede said members should be "proud of what they have achieved" but the "government should be in no doubt that we see it as just a first step in the major pay correction needed."

There is just one week left to stock up on first-class stamps before the price increases by up to 24%.

Standard stamps will rise from £1.35 to £1.65, while large stamps will rise from £2.10 to £2.60, from next Monday.

Declining letter volumes, inflationary pressures and the Post Office's obligation to provide universal service are said to be behind the hike.

If you're looking to build up a reserve before Christmas, stamps are available from high street outlets or from the Royal Mail online shop, though free delivery is only available for orders over £50.

Stamps with the postage class on them, rather than a price, are valid after price hikes.

There will be no changes to standard or large second-class stamps, which will remain at 85p and £1.55 respectively.

Signed-for, special delivery and tracked services are also increasing in price.

A signed first-class standard letter will rise from £3.05 to £3.35, while a small parcel will cost £6.19, not £5.99.

You can find a full list of prices here.

The average household energy bill is forecast to fall in January.

Energy consultancy Cornwall Insight expects the typical household energy bill to drop to an annual £1,697 a year from 1 January from the £1,717 cap that takes effect tomorrow.

It is welcome news for households that will see their bills rise around £12 a month (or £149 a year) this week.

Bills still remain hundreds of pounds above pre-energy crisis levels, with little to suggest a return to historic averages is on the horizon.

Emily Seymour, Which? energy editor, says the news is positive, but prices will still be higher over the winter.

"People could try shopping around for energy deals - look out for any that might be cheaper than the October price cap when it comes into effect," she said.

"Unfortunately, there's no 'one size fits all' approach when it comes to fixing an energy deal - it will all depend on your individual circumstances. You should compare what your monthly payments would be on a fixed deal with what you'd expect them to be if you remain with the price-capped variable tariff to see what the best option is for you.

"As a rule of thumb, we'd recommend looking for deals cheaper than the October price cap, not longer than 12 months and without significant exit fees. Consumers can use switching services, like Which? Switch Energy, to keep an eye on the best fixed deals available and compare deals to see what's cheapest for them."

Vodafone and Three UK have pledged to cap their lowest-cost mobile plans at £10 for two years to try and convince the UK's competition watchdog to approve their £15bn merger.

The Competition and Markets Authority (CMA) has been investigating the mega-deal since it was announced last summer, and could choose to block it if it thinks customers will be left worse off.

The mobile network giants say they do not agree with the CMA, which provisionally found that the planned tie-up could lead to higher bills for tens of millions of customers.

To address these concerns, the phone companies set out new plans, including a promise to maintain tariffs at £10 a month, or less, for two years from the completion of the merger.

The merger would create the UK's largest mobile phone network with some 27 million customers - the final decision is due on 7 December.

Oasis have abandoned the use of dynamic pricing on tickets for their upcoming North America tour dates.

The band earlier announced five shows in Canada, the US and Mexico in August and September next year, saying America had "one last chance to prove that you loved us all along".

But in an official statement shortly after the new dates were announced, Oasis said Ticketmaster's dynamic pricing model where prices vary based on demand - which caused chaos for fans in the UK and Ireland recently - will not be used in the sale of tickets.

They said that while the model "remains a useful tool to combat ticket touting", an "unprecedented ticket demand" mixed with "technology that cannot cope with that demand" makes the system less effective and causes issues for fans.

"We have made this decision for the North America tour to hopefully avoid a repeat of the issues fans in the UK and Ireland experienced recently," Oasis said.

There's been no suggestion that fans who bought tickets at inflated prices during the 31 August sale will be offered refunds.

Many have reacted angrily on social media, demanding that the difference between the higher priced tickets and their original face value be refunded.

"Do the decent thing," said one user.

"If you were truly sorry about it, you would refund the difference between original face value and what your fans paid. Otherwise statements like this are empty platitudes," said another fan.

Others questioned the statement by the band that dynamic pricing was reducing ticket touting.

Fans suffered various problems with ticket websites after Oasis announced their reunion, from being kicked out of the queue because they were labelled bots, to some ending up paying as much as £355 for tickets originally advertised for £148.

In the UK, the Competition and Markets Authority (CMA) haslaunched an investigation into Ticketmaster, looking at how dynamic pricing may have been used, and whether the sale by Ticketmaster may have breached consumer protection law.

Ticketmaster says it doesn't set concert prices and they are down to the "event organiser" who "has priced these tickets according to their market value".

Every week we ask one of the best chefs in the country to pick their Cheap Eats where they live and at home.

We've talked to chefs across the UK, from Northern Ireland to Norfolk - and every day this week our focus will be on London.

This afternoon, in our second chef interview of the day, we speak toGary Foulkes, executive chef at Cornusin Belgravia, and formerly of one Michelin-starred Angler.

Hi Gary,can you tell us your favourite places in London where you can get a meal for two for less than £40?

Living in central London, we're very lucky to have lots of great places to eat on our doorstep. I often go to Master Wei in Holborn. Really tasty hand-pulled Xian noodles and the beef pao mo soup is particularly good. My son always goes for the tomato and egg hand-pulled noodles served in soup. It's just really tasty food served in a friendly, bustling environment.

Diwana Bhel Poori House on Drummond Street, Euston, is another favourite - delicious Southern Indian vegetarian food. I normally go for the bhel poori, samosa chaat and masala dosa - also don't miss the gulab jamun for dessert. It's amazing value for the quality of the food you receive.

Roti King, also in Euston, does some of - if not the - best Malaysian food in London in my opinion. Roti canai is my pick when I go here, but the beef rendang is also very tasty. Be prepared to queue, but it's worth the wait!

What is your go-to cheap eat to cook at home when you have a night in?

When I cook at home, it's always something simple and the general go-to is chicken katsu curry and rice. I use chicken thighs instead of the breast as they have more flavour.

I also gently beat the thighs using a meat mallet or rolling pin to pound it to an even thickness before I breadcrumb and cook - this helps ensure even cooking and helps to slightly tenderise the meat.

I do cheat a bit though and use katsu curry cubes for the sauce!

How did you get into cheffing?

There was never any romance behind it - it started off as a work experience placement when I was at school.

At the end of the week the chef offered me a job, which I took, and it just progressed from there. I loved the atmosphere in the kitchen - people were having a laugh while doing their work and some great banter flying around and that's what I enjoyed about it in the beginning.

We've spoken to lots of top chefs - check out their cheap eats from around the country here...

If you have an HSBC credit card, you may be able to earn up to £150 in cashback on groceries, fuel and transport over the next three months - but you have just a few hours to opt in.

It could be a great way of getting free money on purchases you are already making (but just make sure to pay your card off in full each month or risk wiping out any potential cashback gains).

HSBC says just under a million people are eligible for the deal, with no minimum period on how long you must have had your credit card.

How it works

You need to opt in before midnight tonight (Monday 30 September) - failing to do so means you won't get any cashback.

Once opted in you'll earn up to 10% cashback (max £50 a month) on most grocery, fuel and transport spending for three months. When you apply, you will be told how many purchases you must make each month to qualify for any cashback - you'll be given your own personal threshold.

A few exclusions

Groceries include online food shopping, bakeries and corner shops but excludes Amazon fresh, department stores and takeaways.

Fuel includes any purchased at UK service stations and electric vehicle charging.

Transport includes most public transport in the UK but none abroad.

September saw the fastest annual house price growth in two years, according to the Nationwide Building Society housing index.

UK house prices increased by 0.7% in September, it said.
This resulted in the annual price growth rate accelerating from 2.4% in August to 3.2% in September, the fastest pace since November 2022 when there was a 4.4% rise.

The average UK house price in September was £266,094.

Property values in Northern Ireland performed the most strongly for annual growth in the third quarter of this year, with prices up by 8.6% year-on-year, Nationwide said.

East Anglia was the weakest-performing region, with prices down by 0.8% over the year.

Robert Gardner, Nationwide's chief economist, said prices now remain around 2% below the all-time highs seen in summer 2022.

Tom Bill, head of UK residential research at Knight Frank, sounded a note of caution.

"Falling mortgage rates led to an increase in house price growth in September, with demand also boosted by buyers putting off decisions until after the election," he said.

"However, the mood has since turned more cautious ahead of the budget following suggestions by the government it will be painful. We think prices will end the year a few percent higher but sellers should be aware that buyer exuberance will be in short supply in the final months of the year."

Restaurants will be banned from withholding tips from staff under new rules coming into force tomorrow.

The rules will apply across the hospitality industry and to any business that allows tipping.

It means more than two million workers will be able to keep hold of an estimated £200m a year that is paid by customers in tips, gratuities and service charges.

It has been around eight years in the making, but there are fears some restaurants - who can now no longer rely on tips to supplement staff wages - will increase their prices.

Saxon Moseley, head of leisure and hospitality at consultancy RSM, was quoted by The Guardian as saying: "Those that have been using the service charge to pay staff or to partly offset their wage bill are still going to have to pay their staff, but now won't be able to draw on this cash fund.

"And in that scenario, margins will be hit, in some cases fairly drastically."

Cash tips were already protected, but the new legislation extends this to cover card payments. The law was initially set to come into effect from July, but was delayed.

What does the new law say?

Employers must pass on tips to workers without any deductions and a draft statutory code of practice sets out how tips should be distributed to demonstrate fairness and transparency.

Employers should have a written policy on tips and record how they manage them. Workers will have rights to request information about an employer's tipping record – this will allow them to bring credible claims to an Employment Tribunal.

Employers also can't alter someone's salary or hourly rate - and tips don't count towards the minimum wage.

Tips must also now be paid within one month.

By James Sillars, business reporter

Oil costs are on the rise again this morning given events in the Middle East.

Israeli operations against Hezbollah over the weekend have left a barrel of Brent crude 1% higher on Monday, at $72.

The price remains relatively depressed despite the fears of an escalating conflict.

That is being explained by plans among major oil-producing nations for increased production and continued evidence of weak demand.

Activity data out of China underlined that, though the report was compiled before the authorities in Beijing implemented stimulus measures last week designed to wake the sleeping giant.

The aid, including cuts to mortgage curbs and costs - coupled with promises of more to come - has helped Chinese stock markets to their best monthly performance since December 2014.

Not so bright across Europe today. The FTSE 100 is 0.4% down at 8,286, erasing Friday's gains.

While miners are faring well, Rightmove shares are down 3% after its board rejected a third takeover offer by Rupert Murdoch-linked REA Group.

The bid valued the UK property site at $6.1bn.

Its statement said: "The board has concluded that the latest proposal remains unattractive and continues to materially undervalue Rightmove and its future prospects and that the board cannot recommend the latest proposal to Rightmove shareholders."