According to a survey, the recent tax increase on businesses has triggered the fastest job cuts since the financial crisis. UK S&P PMI index data reveals a surge in businesses displaying signs of critical financial distress, with a notable 50.2 percent increase in the last quarter of the previous year. Employment levels have dropped for the fourth consecutive month, attributed to rising costs from the budget, as confirmed by Chris Williamson of S&P Global Market Intelligence. Reports from Begbies Traynor indicate a significant rise in businesses experiencing severe financial strain in the UK economy post the budget announcement.