London Chamber of Commerce research reveals the cost of the postal strikes.

The regional and national postal strikes have cost London more than £500 million in lost business, new research has found.

Firms in the capital have incurred significant financial hardship since industrial action began, with the London Chamber of Commerce (LCCI) claiming last week's strikes cost the capital an estimated £200 million alone.

Colin Stanbridge, chief executive of the organisation, said the sums of money are "colossal" and that many businesses have employed the services of alternative parcel delivery companies, such as Parcel2Go.com, to try and minimise the impact of the industrial action.

"Not being able to rely on a normal postal service forces companies to pay extra for couriers, delays consumer spending, damages client relationships and plays havoc with a firm's cash flow," he added.

Fresh talks have been scheduled to take place today between the Communication Workers Union and Royal Mail bosses after TUC general secretary Brendan Barber invited both sides to try and find some common ground in the dispute over pay, jobs and modernisation.

Last week, the Royal Mail revealed that the postal strikes have created a backlog of over 30 million letters.

Written by Tom Sands


Article Added: 26/10/2009 09:23:56