London Underground has published details of a revised five-year pay offer which would give staff a 4.5% pay increase this year and a rise of inflation (RPI) plus 0.25 per cent in each of the next four years.
Last month tube unions rejected an earlier offer which the RMT union said failed to reflect “the fact that LU is carrying record numbers of passengers, charging inflation-busting fares, cutting staff and thus increasing productivity by the back door.”
LU’s Richard Parry said the new deal would “enable our employees’ salaries to keep pace with the cost of living and guarantees an increase in real terms over the life of the deal.”
Parry added: “At the same time it is realistic given the current economic situation and the pressure on TfL’s finances.”
A spokesman for the RMT said the latest offer would be “considered in due course through the usual machinery”