The federal government has quietly approved up to another $1.008 billion in emergency funding for Canada Post, a labour-strife-plagued Crown corporation whose own chief financial officer now admits is “effectively insolvent.”

The approval came through Order in Council P.C. 2026-0054, dated January 30, authorizing the Minister of Finance to provide additional funds so the postal service can meet its operating expenses through March 31, 2026.

This is on top of the $1.034 billion already approved last year for the same period.

In other words, taxpayers are now potentially on the hook for more than $2 billion in a single fiscal year just to keep Canada Post functioning.

The bailout comes as the corporation reported an unprecedented $541 million quarterly loss in late 2025, pushing its total losses for the year past $1 billion. During public disclosures, Canada Post’s CFO said plainly that the organization is now “effectively insolvent.”

Revenue continues to decline amid shrinking letter mail volumes, ongoing labour instability, and intense parcel competition from private carriers. The corporation has warned that previously approved federal support could be exhausted before the end of the fiscal year.

Canada Post has now posted losses for eight consecutive years.

Despite that, Ottawa continues to backstop the Crown corporation’s operating shortfalls rather than pursuing structural reform.

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