noun🔗ShareExtra money transferred from the federal government to a province, drawn from general tax revenue and intended to redistribute some wealth from relatively prosperous provinces to relatively poor provinces."Because the economy was struggling, the province received a larger equalization payment from the federal government this year to help fund essential services like healthcare and education. "governmentpoliticseconomyfinanceChat with AIVocabulary GamePractice Reading
noun🔗ShareIn a divorce agreement, a payment made by one spouse to the other in order to create an equal division of assets."After the divorce, John made an equalization payment to Mary so they would each have half of their savings. "familyassetlawfinancepropertyChat with AIVocabulary GamePractice Reading
