My love, that fifty per cent cut will create a shortage (6)
I believe the answer is:
dearth
'a shortage' is the definition.
(dearth can mean a shortage or lack)
'my love that fifty per cent cut' is the wordplay.
I cannot really see how this works, but
'love' could be 'dear' (synonyms) and 'dear' is present in the answer.
This explanation may well be incorrect...
'will create' is the link.
Can you help me to learn more?
(Other definitions for dearth that I've seen before include "Scarcity, paucity" , "Acute insufficiency" , "Scarceness or lack" , "Lack of resources" , "Insufficient amount" .)