Rating: K+

Warnings: None really…

Characters: All of Canada

Genres: Humour, Family, Funducational

Disclaimer: Not only do I not own Hetalia, I also don't own the Provinces and Territories or but I do own their interpretations after looking at a few sources…

Yeah… my Macro unit in Econ is finishing up so this is my way of studying… Yay! Lets write economics analysis of Canada's economy since the only thing Mr Messere can find time to complain about are his wages, the weather (and therefore stay home) and the Maple Leafs.

Explaining the Economy (2012)

"Alright then Canada! Let's get to work. Today's topic is, the Economy." Canada announced. "Ontario will be starting off."

"OBJECTION!" Alberta shouted. "Ontario always started off because he used to be the have-province who helps the rest of the country right?"

"Yeah. So?"

"Well since you're no longer a have province and I am the most awesome have province right now, as I am single headedly carrying the economy, I should start off."

"Alberta has a point" Nova Scotia muttered "Hey! What do mean you carry this economy!"

"Well without the pipeline you'd be making shit so…"

"We'd still have a better economy than the US! And Europe!"

"Not without the revenues from the high taxes on oil…'

"Well I'm just happy I'm finally out of the have not zone." Newfoundland said.

"Nice of you to stop dragging us down." Manitoba muttered

Ontario coughed "Back to the topic."

"Tsk, spoilsport." NWT muttered as Ontario pulled up a slideshow with diagrams of the economy.

"What is most important is trying to balance the budget. We've seen what happens in Europe" *cough* Greece *cough* "Therefore to minimize the chance of fiscal cliffiness… we should make budget cuts and increase taxes."

"Why? If we increase taxes and cut government spending the economy will just suffer. Unemployment will increase and GDP will decrease. People won't want to work as much and will want to save for a rainy day." Nova Scotia said "Therefore your graph is wrong. Because employees don't take kindly to a wage cut, increased government spending won't increase inflation and it will bring employment and a higher GDP. "

"Except the problem is that people are as sensitive to a tax increase during prosperity as during a recession." BC shot back. "I day we tax more, especially the rich. The gap between rich and poor in Canada has increased during the last 10 years"

"If we tax the rich more, they won't want to earn as much" Alberta said "And they won't create as many jobs."

"I still say we do something about the government." Quebec muttered "Too conservative."

"You're one to talk. If it weren't for your economy, you wouldn't be in this room right now" Saskatchewan pointed out.

"Except you don't want me to leave so I get an extra allowance" Quebec grinned. (1)

Everyone grumbled but kinda knew it was true. In the end no agreement was reached.

Terminology

Have province – a province which does not receive equalization payments

Have not province – a province which does receive them

Current Have Not Provinces (with the equalization payment received)

Quebec ($7.833 billion)

Ontario ($3.169 billion)

Manitoba ($1.792 billion)

New Brunswick ($1.513 billion)

Nova Scotia ($1.458 billion)

Prince Edward Island ($340 million)

(1) Quebec's economy relies heavily on the rest of Canada, equalization payments which the rest of Canada wouldn't provide if it were its own country.