UK Government Interest Payments on Borrowing Soar as Inflation Rises

The UK's Chancellor of the Exchequer Rishi Sunak speaking at a press conference in Downing Street, London, on Feb. 3, 2022. Justin Tallis/PA Media

Britain’s Treasury banked more cash from self-assessment tax returns last month than a year earlier.

But soaring inflation led to interest payments on Government debt rising to the highest level since records began nearly 25 years ago.