Sentence:  “I don't think I shall enter for the Point to Point this year, because we're going to <WSD>jack up</WSD>.” / “Going to <WSD>jack up</WSD> what?” asked one, while the others looked up enquiringly. / “We're going to <WSD>jack up</WSD> the Service. […]” 
Meaning of the word marked with <WSD> tags:  To give up; to abandon (something, e.g. a job, contract)