UK Debt Interest Payments at 20-Year High as Borrowing Costs Rise
- Interest paid on national debt at 20-year high as 30-year bond rates hit 5.05%
- Higher borrowing costs come as Chancellor prepares for November budget statement
- Total national debt currently around £2.59 trillion, borrowed via bonds
- Higher interest payments mean less money for public services like healthcare
- Combination of financial crisis and pandemic pushed UK debt up from historic lows
