Australia Post Faces Parliamentary Probe Over Financial Viability

Communications Minister Anika Wells referred Australia Post to a parliamentary probe to examine the national postal carrier's future viability following a $107.6 million loss in the last financial year. The inquiry, launched on October 30 by the Standing Committee on Communications, Arts and Sport, will explore ways to diversify services as the company faces declining letter volumes, rising delivery costs, and competition from global e-commerce firms.

To reduce expenses, Australia Post previously shifted letter deliveries to every second day, saving $188.3 million over 12 months. Despite the overall loss, the company reported record packages and services revenue of $8 billion for the year ending June 30. The probe comes amid scrutiny of CEO Paul Graham, who received a bonus exceeding $1.36 million during the loss-making period.

Committee Chair Susan Templeman stated the review will focus on ensuring the service remains accessible and sustainable in the digital age. The inquiry will operate within existing mandates requiring at least 4,000 retail outlets nationwide, including 2,500 in non-metropolitan areas. The committee will specifically examine the dwindling number of red street post boxes and the potential to expand post office services to include banking. A final report with recommendations is expected in the second quarter of 2027.