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Michael Taube: Canada Post’s $1.6B loss proves it’s time to privatize

The Crown corporation is effectively bankrupt and stuck in the past. Only privatization and real competition can solve this problem

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Just when you think that Canada Post couldn’t sink any lower into the financial abyss, the once-venerable Crown Corporation has set another record for futility and failure.

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Canada Post recently reported a loss of $1.57 billion (before tax) for the 2025 fiscal year. This number was so staggering that even CBC News felt compelled to point out “it’s yet another blow to the Crown corporation that’s already drowning in debt so badly that it’s surviving on $2 billion worth of federal loans to stay afloat.”

Michael Taube: Canada Post’s $1.6B loss proves it’s time to privatize Back to video

This includes a $1.034 billion repayable loan the federal Liberals issued to Canada Post in January 2025. The belief at the time was that it could help sustain the operation as it faced “significant financial challenges.” Alas, this was nothing more than a pipe dream. As a devastating May 15, 2025 report by the Industrial Inquiry Commission suggested, Canada Post was facing an “existential crisis.” It was already “effectively insolvent, or bankrupt” and if immediate action wasn’t taken, “its fiscal situation will continue to deteriorate.”

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