With the election of the LNP conservative government on the following weekend in Australia. 12,000 jobs are set to be cut by the new government. Joe Hockey back in May, 2013 stated that the 12,000 jobs that were to be cut were just the starting point of jobs that were to be cut.
The Australia Institute released figures to show what the impact would be from such district cutting of jobs in Canberra. With 12,000 public servants being cut in Canberra means that 1100 retail jobs will also be lost, 506 professional jobs, 376 jobs Information Technology , 283 jobs in hospitality will be lost and the real estate sector will be hit by the loss of more than 130 jobs.
the 12,000 jobs that will be cut including the 5500 jobs that will go along with the public service jobs means that 1 in 12 jobs in Canberra will be lost.
The Australia Institute highlighted the fact that the last time government made large cuts in the city. Canberra went into recession, unemployment went up and house prices collapsed.