Equalization payments are cash payments made in some federal systems of government from the federal government to subnational governments with the objective of offsetting differences in available revenue or in the cost of providing services.
They are generally calculated based on the magnitude of the subnational "fiscal gap": essentially the difference between fiscal need and fiscal capacity. Fiscal capacity and fiscal need are not equivalent to measures of fiscal revenue and expenditure, as making them so would induce perverse incentives to subnational governments to reduce fiscal effort.
Canada
In Canada, the federal government makes payments to less wealthy Canadian provinces to equalize the provinces' "fiscal capacity"—their ability to generate tax revenues. In 2009-2010, six provinces received $14.2 billion in equalization payments from the federal government.
Until the 2009-2010 fiscal year, Ontario was the only province to have never received equalization payments; in 2009-2010 Ontario will receive $347 million, while Newfoundland, which has received payments since the program's creation, is now a so-called "have" province, and is now a net contributor that does not receive Equalization payments.
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... equalization formula used in Canada’s federation acts against natural resource development in so-called “have not” provinces (i.e., provinces that are annual net recipients of equalization payments).
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... a redo of the annual cost of living adjustment payments would add $4.4 billion; and lowering the retirement age for Tier 2 recipients to equal Tier One recipients would cost a whopping $11.3 billion.
When trade disputes arise with the U.S., these provinces have historically been quick to sacrifice others — most notably Alberta — even though Alberta’s equalization payments financially support many ...
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... a redo of the annual cost of living adjustment payments would add $4.4 billion; and lowering the retirement age for Tier 2 recipients to equal Tier 1 recipients would cost a whopping $11.3 billion.
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