equalization payment

(redirected from Equalization payments)
Also found in: Wikipedia.

equalization payment

or

equalization grant

n
(Economics) Canadian a financial grant made by the federal government to a poorer province in order to facilitate a level of services equal to that of a richer province
References in periodicals archive ?
5 billion in equalization payments to help support Quebec that receives $11 billion in equalization per year and $1.
Lastly, any unpaid equalization payments, as a result of a divorce or separation agreement, are treated like unsecured debts and are eliminated in bankruptcy (although this is a complicated area of law, so legal advice should be sought it the amounts are significant).
Speaking to the Royal Military College 2008 graduating class, John Scott Cowan added that reporters "stick microphones under the noses of whatever slack-jawed gum-chewing vagrants they can find on the street to ask them what they think about oil prices or border security or equalization payments.
Equalization has certain similarities with universal programs in that all provinces participate in the program and all are eligible for benefits given the right circumstances; with Ontario's recent shift in economic fortunes and its receipt of equalization payments, all provinces have now, on occasion, been recipients of aid (Courchene 2008).
Because real per capita income adjusted by appropriate price deflators does not differ significantly between regions in Canada and in the United States, central programs such as equalization payments to provinces or states, regional economic development policies, and subsidies to regional corporations have no firm analytical basis.
more than 10 per cent of Quebec government revenues derive from equalization payments, effectively a transfer via Ottawa from the rest of Canada;
The decision to exit the system agreement was made immediately following the Federal Energy Regulatory Commission's 2005 order on rehearing that required Entergy Arkansas to begin making production cost equalization payments to Entergy's other operating companies.
Secondly, episode #1 wrongly characterizes our system of equalization payments by referring to contributions from "richer provinces".
In 2007, the operation of the fiscal equalization payments was reformed in light of the report of the Expert Panel on Equalization and Territorial Formula Financing (Chair: Al O'Brien).
Equalization payments exist so Canadians won't have less in services because their province doesn't have the largesse of easy money or there in back times, as Ontario's manufacturing sector now finds itself.
He wanted a special deal to sustain his equalization payments, despite Newfoundland's oil boom.
Premier Lorne Calvert, backed by federal NDP leader Jack Layton, insists Stephen Harper has broken an election promise to Saskatchewan--a promise to exclude natural-resource revenues from the formula that determines which provinces are "have-not" provinces eligible for federal equalization payments.