Thank you, gentlemen, for coming in.
This committee heard in prior testimony that Canada Post is facing an uncertain financial future. The Ernst & Young report provides numbers of $700 million in annual losses from this time till 2026. It noted, “The current business model of the corporation does not generate sufficient income and cash to finance the realignment needed to continue its journey from a letter-centric to parcel-centric business...”.
I specifically want to focus on getting to new services and this idea of returning to a banking service. We know from prior testimony that 7% of Canadians and 11% of businesses said they may or would like to use it. Are we talking about an ATM machine or something more than an ATM machine, or are we talking about full-service banking?
Your Worship, if you want to start, is that what you want to see?