Article content continued

The Liberal government has made gender equity a key theme since taking office. Women comprise half of Prime Minister Justin Trudeau’s cabinet — and roughly half the electorate — and last year’s budget the Liberals first nods towards gender-based analysis, which tries to determine how spending measures impact men and women differently.

In this years’s edition, however, it was the dominant theme.

The initiatives unveiled Tuesday include making $1.4 billion in new financing available for women entrepreneurs through the Business Development Bank of Canada over the next three fiscal years. In addition, a $70 million commitment to women-led technology firms over the next five years through the BDC’s Women in Technology Fund is being increased to $200-million.

Funding and loan products from Export Development Canada and Farm Credit Canada are also being put in place to assist businesses owned or led by women in those sectors.

Citing RBC Economics, the budget document contends that Canada’s GDP could see a gain of as much as 4 per cent if men and women participated equally in the work force.

“Women entrepreneurs face unique barriers in accessing capital, supply chains and export programs compared to their male counterparts,” the government said in the document, which noted that fewer than one in six Canadian businesses (16 per cent) is majority-owned by women.

“The government believes that with greater support, women-led businesses could enter, compete and win on the world stage, boosting economic growth and creating more good, well-paying jobs here at home.”