Federal regulators did polls on Canadians about their support for potential postal service cuts and a 36% increase in stamp rates, according to Blacklock’s Reporter. .“This research is intended to capture the views of Canadians about the mail and their current expectations of Canada Post especially in the wake of the COVID-19 pandemic and Canada Post’s ongoing financial losses in order to ensure the evolution of this important public institution reflects their understanding of quality service that Canadians can afford,” said the report for Public Services and Procurement Canada. .The report complained about “ongoing financial losses” at Canada Post. .Canada Post reported a pre-tax loss of $490 million in 2021. Earlier losses totalled $779 million in 2020, $153 million in 2019, and $276 million in 2018. .The report said two-thirds of Canadians agreed Canada Post should be allowed to deliver letters less often than five days a week to reduce costs. .The report went on to say 56% of people are fine with paying $1.25 or more for a stamp. Current bulk rates are 92 cents for domestic letter mail. .“Canadians are more amenable to a price increase for stamps if the delivery requires a longer distance,” said the report. .“In fact, 27% are willing to pay up to $2 for delivery of a letter across the country, although 22% are not open to an increase.”.When it comes to delivery within a person’s city or town, 65% of respondents said they're not open to an increase. There were 14% who would pay $1.25, and 13% were willing to pay $1.50 or more. .Researchers said Canadians were unopposed to greater use of franchisees to manage retail postal services. More than four in five people agree it does not matter to them if a post office is a franchise in a pharmacy or grocery store or if it is owned and operated by Canada Post if the prices and services are the same. .Findings were based on interviews with 3,443 people nationwide. Public Services and Procurement Canada paid $144,182 in September for the survey by Ekos Research Associates. .The financial issues for Canada Post come after it confirmed in 2021 outlets in Alberta and Nova Scotia will broker cash loans for TD Bank. .READ MORE: Canada Post to make bank on lending operations.“The market test goal is to offer the new financial service in over 249 Canada Post locations before the end of 2021,” said the Canadian Union of Postal Workers. .Post offices would offer TD loans of $1,000 to $30,000 at competitive rates.
