Canada Post has received billions in cabinet-approved funding that carries no interest and no formal repayment schedule, documents tabled in the Commons show. Blacklock's Reporter says MPs who requested the confidential terms expressed concern that taxpayers may never see the money returned.Records revealed an initial $1.03 billion payment was approved January 24, 2025, and spent by Christmas, prompting a second payment of $1.008 billion. The Memorandum of Understanding governing the funds makes clear the money “is not authority for the Minister of Finance to lend money to Canada Post,” and therefore “the funds will not accrue interest.”“Canada Post Corporation is not required to repay funds to the Government of Canada during the term of this Memorandum,” the document states. Any repayment plan would require a new or amended memorandum. The agreement technically expires December 11, 2026, but “the terms and conditions will continue until a new memorandum is executed by the parties.”.Post office management must report monthly on cash flows and quarterly on operating plans and economic assumptions, with all data kept confidential by the Department of Finance.Conservative MPs questioned whether taxpayers would ever see repayment. “We are just dumping money down the toilet with them,” said MP Jeremy Patzer (Swift Current-Grasslands, Sask.) at a March 12 government operations committee hearing.Deputy Public Works Minister Arianne Reza acknowledged the financing is “not strictly on commercial terms” and that different repayment structures are being examined. When asked if repayment is mandatory within a set period, Reza said the questions were “very broad” but maintained “that is the intention.”
