“In previous BIDPA Briefings, it was noted that the current boom has depended to a large extent on the high rate of increase in government spending. The continuation of the
boom also largely depends, therefore, on whether or not the government increases its spending at a much lower rate, as announced
in the February 2000 Budget Speech. So far, there is not much more than anecdotal evidence for the current year, and that is rather mixed. However, there has been a
close correlation in the past between the growth of GDP on the one hand, and consumption of electricity on the other hand.”
