UK employers cut jobs after Labour’s tax-heavy Budget, with payrolled employment falling by 47,000 in December and wage growth rising 5.6% annually in November. Businesses face higher costs from national insurance hikes and minimum wage increases, pushing some to cut jobs or raise prices. Analysts say the Bank of England may respond with a February rate cut, despite inflationary wage growth. UK GDP grew just 0.1% in November, and weak economic data suggests hiring pauses and slowing pay growth. Labour’s Rachel Reeves defends the Budget amid criticism over its impact on jobs.