An equalization payment is a financial transaction made to balance out differences in income or wealth between individuals or groups. It helps ensure that everyone receives a fair and equal share or opportunity. Full definition
Many Albertans find it rich that Quebec — which provides families with subsidized daycare and offers university tuition at less than half the rate of other provinces — criticizes Ottawa for capping equalization payments in 2009 to the rate of the economy's increase. (canadianbusiness.com)
With respect to (4) and (5), the ONCA set aside the motion judge's lump sum spousal support order, without prejudice to the mother's right to bring another motion for lump sum support, noting that the motions judge's analysis on this issue was lacking and that his approach supported the conclusion that the underlying purpose of his lump sum spousal support award was merely to convert the mother's unpaid equalization payment into lump sum spousal support following the father's bankruptcy. (jessicagagne.ca)
Indeed, transfers and regional equity are enshrined in Section 36 of the 1982 Constitution Act and Section 36 (2) reads: «Parliament and the government of Canada are committed to the principle of making equalization payments to ensure that provincial governments have sufficient revenues to provide reasonably comparable levels of public services at reasonably comparable levels of taxation.» (worthwhile.typepad.com)