I'm here undercover as I don't want this question to be linked back to my regular profile.
I have worked for my employer for quite a while and really enjoy it, I love almost everything about my job and the company. I Came into the company as a junior and now am well respected and have had many opportunities to learn. My knowledge is highly valued in my company.
The last year for the company and industry have been really tough and as a result, there is now a hiring and salary freeze until further notice. I have been spoken to about a promotion and payrise before this all happened which I have been hanging for for a long time. It now isn't looking like it's going to happen for at least the next 6 months but more likely 12 months.
A) stay and ride out the tough times in case your loyalty is rewarded
B) stay but let your manager know that you're disappointed that it won't be considered to try to put a fire up them
C) start looking for a job elsewhere which will give you the development and salary you deserve