After paying $81 million in taxes, Canada Post made $84 million for the fiscal year 2000-2001. This represents consolidated net income, which includes postal operations and Purolator income or loss. Postal operations alone had a surplus of $111 million. Purolator lost $22 million. Consolidated net income is $9 million higher than last year and postal operations net income is $27 million higher.


FEDERAL GOVERNMENT TAKES $19 MILLION IN DIVIDENDS

When Canada Post was created in 1981, it was given three mandates:

·become financially self sufficient;
·maintain and improve service;
·improve labour relations.

It has become more than financially self-sufficient. Self-sufficiency does not mean being a cash cow for the federal government. It means breaking even after improving service and labour relations.

Canada Post has the money to invest in the parcel business, expand its retail network using CUPW members, and expand door-to-door delivery by letter carriers.


WHAT'S IN IT FOR POSTAL WORKERS?

Canada Post must agressively compete for parcel business if it wants to grow. Growth is essential for the long-term survival of the post office and for our long-term job security. In order to grow, money must be invested in equipment, vehicles and people. All parcel delivery should be contracted in so there is a seamless dedicated delivery network. Money must be invested in reducing the high number of work injuries in the post office. It should also be used to improve the wages and working conditions of Rural Route and Suburban Service Couriers.

Postal workers have helped Canada Post become profitable. Postal workers want management to acknowledge this by sharing the gains. To date, most of the gains have gone to the government in the form of dividends. The time has come for postal workers to share Canada Post's financial success through higher wages and improved working conditions.

Our current collective agreement expires at the end of January 2003. After seeing high profits and more dividends paid to the federal government, postal workers expect higher wages and improved working conditions - and we intend to get them.

**Note: CUPW analysis and highlights of the Canada Post annual report will follow shortly.