That’s a scary enough figure. However, even more worrying for the print industry is that, according to The Telegraph article that broke the story, only around £50m or £60m will be a direct result of the two 48-hour stoppages. The remaining losses are attributed to the weakening of confidence in postal delivery, which it is feared will drive even more individuals and businesses to switch to electronic communications.

With email marketing having just overtaken direct mail in terms of volume, the thought of it receiving yet another shot in the arm is not good news for printers.

And this will be further compounded by the fact that there is no end in sight for the strike action, with Royal Mail looking unlikely (or apparently in a position) to improve on its offer and the Communication Workers Union understood to be planning weekly disputes until an agreement is reached.

The problem is both parties see this as a life and death struggle: the Royal Mail for its survival in the new deregulated postal market and the union to protect the 40,000 jobs it believes are under threat from the modernisation plans.

Of course there are rival postal carriers and they will no doubt try and fill the void as best they can short term, but without the ‘final mile’ service of the Royal Mail, they’re not geared up to offer a quick fix for direct mail and B2B and customer publishing industries.

My worry is that the situation could easily spiral out of control and not only cause lasting damage to the Royal Mail but also its clients, and therefore ultimately the print industry.

Darryl Danielli is editor of PrintWeek.