DCHP-1 Online
equalization 
n. (usually attributive, with grants, payments, policy, etc.) See 1964 quote.
See also: tax-sharing agreement
- 1963 By moving Ontario to the Prairies, Life has settled once and for all the problem of equalization grants.
- 1963 His proposal to revise the equalization formula, basing it on the per-capita yield of the wealthiest province rather than as at present on the national average, was broached in terms that suggested this might be all the provinces would get at this conference.
- 1964 The equalization grants were unconditional grants to the poorer provinces based on fiscal need. They were designed to enable the less affluent provinces to provide a moderate level of provincial services without the necessity of carrying an abnormal load of taxation ; and computed on a set formula designed to bring the per capita yield of the three "standard taxes" up to the per capita yield of the same standard in the two most wealthy provinces in each year.
- 1966 Equalization is a relatively new word--it first appeared in the 1956 agreement--but the principle it represents goes back to the earliest days of Confederation.
- 1963 By moving Ontario to the Prairies, Life has settled once and for all the problem of equalization grants.