The Financial Post reports in its Thursday, Nov. 20, edition that Canada's affordability crisis is linked to productivity issues, which could be addressed by increasing incomes through productivity gains, says the Bank of Canada. The Post's Jordan Gowling writes that BOC external deputy governor Nicolas Vincent on Wednesday said: "If we want to make things affordable, we need to raise our income. And the way we grow our income is by increasing productivity." Mr. Vincent noted Canada's productivity challenges, highlighting that since 2000, it has lagged behind the U.S. and other G7 countries. Annual labour productivity growth decreased from 3 per cent (1962-1979) to over 1 per cent (2000-2019) to under 0.5 per cent (2020-2023). Mr. Vincent said: "Even modest improvements can make a big difference. To give you an idea, if our productivity growth since 2000 had been similar to that of other G7 countries, our GDP in Canada today would be about 9 per cent higher, which translates to almost $7,000 per person." Mr. Vincent noted that income growth from productivity gains leads to little to no inflation, as businesses can maintain stable prices while raising wages and purchasing power.