OTTAWA – New Democrats are disappointed that Motion 166 to study postal banking has been defeated in the House of Commons today. The Liberals were presented with a progressive and forward thinking idea, and they decided to team up with Conservatives to vote it down.
If passed, the motion would have formed a committee tasked with putting forward the best model for a public system of postal banking under Canada Post. Postal banking could provide services to Canadians in rural and Indigenous communities, who have been abandoned by big banks, and could also be an alternative to predatory payday lenders who are often the only choice for low-income Canadians.
“Postal banking would allow us to utilize the vast infrastructure of Canada Post that is already in place to deliver banking services across the country,” said Irene Mathyssen, NDP’s Canada Post Critic and sponsor of Motion 166. “However, Liberals much like the Harper Conservatives, lack any vision for modernizing Canada Post.”
Mathyssen’s motion gained support from thousands of people across Canada who signed petitions tabled in the House of Commons. Postal Banking is also endorsed by the Canadian Postmasters and Assistants Association, Canadian Union of Postal Workers and over 700 municipalities.
“The fight doesn’t end here. Canadians have been inspired by the idea of postal banking,” added Mathyssen. “It’s clear that only New Democrats are presenting a progressive forward-thinking vision for Canada Post.”