Canada Post's financial crisis and the unused 1981 legal provision for postal banking
By
Si Thu Naing
Summary
Canada Post faces a recurring financial crisis, with multiple government-commissioned reports since 2008 warning of an impending fiscal cliff. The article reveals that a potential solution has existed in Canadian law since 1981 — a provision allowing Canada Post to offer financial services like banking and money transfers — but successive governments have never implemented it. Despite $2+ billion in emergency loans provided in 2025-2026, the government has not activated this existing legal authority. The piece argues that postal banking could generate revenue, support underserved communities, and provide a sustainable path forward for the struggling crown corporation.
Source
bskyCanada Post's financial crisis and the unused 1981 legal provision for postal bankingpolicyalternatives.caKey quotes
· 3 pulledCanada Post has been studied to death. That is not a figure of speech.
The Government of Canada provided Canada Post with up to $1.034 billion in repayable funding in January 2025, followed by up to a further $1.01 billion in February 2026
The answer to Canada Post's financial crisis has been in the law since 1981. The government just has not used it.
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