Canada
Procurement minister says loans to Canada Post aren’t a ‘long-term solution’
1 minute read 3:21 PM CSTOTTAWA - 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.
Speaking to a House of Commons committee today, Lightbound said it's no secret that Canada Post has major financial problems and it's essential to ensure the corporation has the revenue it needs.
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