UK debt interest payments jump to all-time high UK interest payments on government debt jumped to the highest level on record in June hitting £19.4bn - £10.3bn more than in the same month last year. The surge in debt servicing costs pushed borrowing up to £22.9bn in June, the highest figure for the month outside of the pandemic. However, tax receipts jumped by £5.1bn to £51.4bn as the Exchequer benefited from the hike in National Insurance and the frozen tax thresholds pulling more earners into higher bands.