Procurement minister says loans to Canada Post aren’t a ‘long-term solution’

Minister of Government Transformation, Public Works and Procurement Joel Lightbound rises during question period in the House of Commons on Parliament Hill in Ottawa on Wednesday, Dec. 3, 2025.

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.

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.

Lightbound also said Canada Post needs to transform itself because the federal government can’t continue to support it “in such a significant way.”

The federal government said the latest temporary support is to ensure service is maintained while the organization initiates reforms to make it viable in the long term.

This report by The Canadian Press was first published Feb. 10, 2026.

Catherine Morrison, The Canadian Press