I'll be clearer in English.
Your question is, how do I assess productivity as it affects the country's finances and the bank's finances? Do I understand that correctly? Okay.
I'll start with the bank's finances, because that's fairly straightforward. It doesn't have a direct effect—or really any effect—on our balance sheet or our income statement. The speech I gave talked about how it affects monetary policy in the sense that an economy that has high productivity can grow faster before it starts to create inflationary pressure. That means an economy can heat up, can get going and can grow quickly, and it's not going to create inflation, which means that the bank will not have to intervene to try to damp down the economy to keep demand and supply in balance and make sure that we don't get an inflationary surge that comes with a growth surge.
As I said in answer to the previous question, it creates a nice buffer in the economy that lets you buffer shocks and surges in growth. It kind of inoculates you against some of the inflationary pressures you get. That's how we think about productivity in the context of monetary policy decisions.
In some sense, it does a lot of the same things for the broader fiscal position of government. It allows the economy to grow. If productivity gains are shared across the economy, that improves the standard of living for everybody.
If you think about it, you realize that productivity is fundamentally that we create more output per hour of input of labour. If you have a company and can create more of whatever you're making for every hour your employees work, then your company is going to grow and become more profitable. It's the same with a country. If a country can create more GDP per hour of labour it has, then the country's wealth will grow. Assuming that wealth is spread broadly across the economy, it helps everyone.