Procurement minister says loans to Canada Post aren’t a ‘long-term solution’
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.99/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19.95 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
OTTAWA – Federal Procurement Minister Joël Lightbound is defending the government’s latest $1 billion loan to Canada Post but says federal support can’t be a “long-term solution” for the Crown corporation.
The federal government is making $1.01 billion available to Canada Post in the form of a repayable loan to help the Crown corporation remain solvent and keep its services running.
The new sum is in addition to a $1.03 billion loan Ottawa announced in January 2025.
“It’s no secret that Canada Post has major financial problems and is going through an essential transformation time,” the minister said in French at a House of Commons committee hearing Tuesday.
Lightbound said it’s essential to ensure the corporation has the revenue it needs.
The minister also said that while Canada Post is a vital institution, it hasn’t been profitable for seven years.
He said the company needs to transform itself because Ottawa can’t continue to support it “in such a significant way.”
The federal government has said the latest temporary support is to ensure service is maintained while the organization initiates reforms to make it viable in the long term.
Lightbound unveiled a suite of changes to the postal service’s mandate in late September and gave the Crown corporation 45 days to deliver a plan to right the ship.
Canada Post said in an emailed statement Saturday that it continues to deal with “significant financial challenges.” It said it has submitted its proposed transformation plan to the federal government and is working to finalize it.
“The plan details the decisive action we are prepared to take to deliver the services Canadians need in a way that is financially sustainable,” Canada Post said.
This report by The Canadian Press was first published Feb. 10, 2026.