London Suffers Most Job Losses After Labour’s Tax Hikes

London is bearing the brunt of the UK’s jobs slowdown as a combination of tax rises, elevated wage costs and weak consumer spending force the city’s business to cut payrolls faster than in the rest of the country.

The capital has shed almost 45,000 payrolls since October when the Labour government announced a £26 billion ($35 billion) hike in employers’ national insurance — a payroll tax — and a new higher minimum wage, according to tax data.

It means one in four of all job losses across the country have come in the UK’s most productive region. Combined with the ...