The government is finally willing to admit that Canada Post is at the precipice. The Crown corporation is losing over $1 billion a year and the situation is simply unsustainable.
Unfortunately, those in government don’t seem to have the willingness to embrace a truly bold solution that will solve the financial crisis facing Canada Post: Privatization.
For a decade, the Justin Trudeau Liberals refused to admit that there was even a problem at Canada Post, despite massive annual shortfalls and the repeated need for government bailouts. At least on that front, the Carney government appears to be different.
As Government Transformation, Public Works and Procurement Minister Joel Lightbound noted last month, “Canada Post is now facing an existential crisis. Since 2018, the corporation has ac