(Canada, government) Extra 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.
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(Canada, legal) In a divorce agreement, a payment made by one spouse to the other in order to create an equal division of assets.
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Add your own interpretation of "equalization payment".
Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
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