income equality
nounUK /ˈɪnkʌm ɪˈkwɒləti/
US /ˈɪnkʌm ɪˈkwɑːləti/
When everyone earns money in a way that is fair and close to the same.
The teacher explained that income equality means people get paid fairly for their work.
OTHER MEANINGS
2. A situation where the gap between the highest and lowest earners is small.
The report showed that income equality had improved since the new tax rules.
3. The principle that people doing similar jobs should receive similar pay.
The workers went on strike to demand income equality between men and women.
4. A policy goal of reducing differences in earnings across a society.
The party promised to make income equality a top priority in its manifesto.