Wyatt Claypool argues that Canada Post should be privatized. He points to a CBC article and a chart showing how much Canada Post has been losing since 2017, and argues that it should be outsourced to a private firm.
00:01:58.800The annual loss in 2023 was $748 million, even worse than 2022, when it lost $548 million, according to the latest annual report.
00:02:10.540And I doubt it's gotten any better since 2023.
00:02:13.460Obviously, 2020, it lost more money since more people are potentially delivering packages.
00:02:20.480And so because it does its, you know, its function is done at a loss, the more people mail stuff, the more losses that we incur.
00:02:29.340Just put it out of its misery at this point and just get rid of it.
00:02:33.160This is a signal failure of the Trudeau Liberals and now the Carney Liberals.
00:02:38.260They have only bloated the Crown Corporations more as they lose money.
00:02:43.040When I see Mark Carney saying that, you know what, I think I can find $28 billion of savings within government in order to pay for my increased spending, I don't believe him.
00:02:55.320Because if he was serious about it, I would hear the word CBC and Canada Post come off his lips and immediately be followed by the word privatization.
00:03:05.520Because these things only lose us money.
00:03:09.940We don't make money off the Canada Post.
00:03:12.460And there are many more agencies, bigger and smaller, who also don't actually serve a purpose other than employing people to do a job at too high a cost for taxpayers.
00:03:29.180They would probably expand their operations to do it.
00:03:32.020I always hear that there's not a business case for something.
00:03:34.340And then the government entity goes bankrupt and somehow the private sector picks it up and makes it profitable.
00:03:40.080Because it turns out the people in government are just bad at running things.
00:03:43.980Just because they can't run it for a profit doesn't mean it's not profitable.
00:03:47.400It just means that they suck at their jobs.
00:03:49.180And so what I am seeing here is a great opportunity for conservatives to put pressure on the liberals to get rid of Canada Post.
00:03:56.960Because if Carney is serious, he will do it.
00:03:59.240And if he's not serious, he's going to indict himself by showing that he will refuse to get rid of this dead weight because he likes the dead weight.
00:04:09.140He got into office because of dead weight.
00:04:11.440If you took away the increased amount of votes the liberals got from more federal employees existing in 2025 than they did in 2015, they would have lost the election.
00:04:22.340There's like another 500,000 people who work for the federal government, whether directly or indirectly, who will always vote for the government or for the party,
00:04:31.940who will make sure to maintain what are a lot of the times fake jobs or give them more money.
00:04:37.960That is what Canada Post workers are doing right now.
00:04:40.060They see the liberals and they see the people that the liberals have put in charge of Canada Post as easy marks.
00:04:46.520And these people will buckle, give you a 5% wage increase, increase your benefits.
00:04:51.120This is all over the fact that Canada Post was trying to be a little bit more fiscally responsible and was going to hire weekend employees to deliver mail on the weekends.
00:05:01.040Canada Post doesn't want part-time employees doing it.
00:05:03.280They want it to be an only overtime role so that people who work there can then get like double wages for working Saturdays and Sundays.
00:05:11.920This is also the problem with our health care system across Canada in the different provinces.
00:05:16.900So many people, because it's understaffed, because so many people who are nurses just work in HR positions or administrative positions.
00:05:23.040The people who still do work in nursing, who are doctors, in a clever way, they can just refuse to show up to work if they're not exactly scheduled in.
00:05:31.860So we have nurses and doctors, mostly nurses, who only work part-time.
00:05:36.580And they'll only come in if you offer double-time or triple-time.
00:05:40.600I've heard this goes on, which means that our health care systems are extremely bloated with personnel salaries because people don't actually work regular hours and they're only ever paid in double-time wages.
00:05:53.980And now we have Canada Post workers probably wanting to bloat the budget by another couple or a hundred million a year.
00:06:01.460And you've got to ask yourselves, how many of these do we have that exist?
00:06:05.180We're running a $62 billion deficit and at least nearly $1 billion of it is coming from Canada Post.
00:06:12.080We have another billion of it coming from the CBC.
00:06:14.940If we find another dozen or two of these and then we just cut wasteful spending in other areas, we could have surpluses from here until the end of time.
00:06:56.320It sounds like an established corporation could easily handle 2.2 billion letters.
00:07:02.220We don't need this bloated crown corporation doing 5.5 billion.
00:07:06.000And it's probably good that there's not as much mail going through right now because if you increase the amount of mail, they would probably lose more money on the delivery of it.
00:07:15.160But, yeah, it's showing all how the delivery or the amount has been going down over time.
00:07:19.960But, again, the amount of money it takes to do it has also been going up.
00:07:24.920And when that's happening over time, when, in fact, things should be becoming more efficient, it tells you that it's basically just become a slush fund for unions.
00:07:32.840It is just a way of being able to give very, very well-paid, cushy union jobs.
00:07:37.860And I know there are people in my audience who like unions.
00:07:40.920At the same time, guys, why do you think the Detroit auto industry went under?
00:07:44.560Why do you think there are so many businesses and industries that are complete basket cases in Canada?
00:07:50.000Because you must go through unions to get any of your labor unless it's just going to be you running the business.
00:07:56.100And so you end up having massive amounts of your money go into wages, unrealistically high wages, and then your business never grows.
00:08:04.800We are in such a stagnant economy because of stuff like this.
00:08:08.700And, again, Carney's not going to handle it because he's never actually vocalized a problem with places like the CBC and Canada Post.
00:08:15.780The two easiest crown corporations to criticize won't say anything about them.
00:08:20.440He will say, well, I think we can find double spending.
00:08:23.360Maybe there are duplicate programs we can get rid of.