London Underground (LU) has proposed a 4% pay rise for staff as part of a five-year deal.
LU has said employees would be given increases for the next four years of inflation plus 0.25%. It covers the period from April 2011 to April 2016.
The previous pay deal expires this month. It saw staff receive a 1.5% increase in year one and inflation plus 0.5% in year two.
The offer was made to all trade unions at a meeting of London Underground’s company council on Thursday 14 April.
In addition to the pay offer, LU has also committed to examining further issues raised by the unions, including working on statutory public holidays and the company’s family-friendly policies which aim to make working for LU easier for parents and carers.
Howard Collins, chief operating officer at London Underground, said: “We have today made what we believe is a very fair and affordable multi-year pay offer to the trade unions, which will see staff gain real-terms pay increases and stability over the coming years.
“We have asked the unions to respond to our offer by 28 April and we look forward to working with the unions to reach an agreement as soon as possible.”
Manuel Cortes, assistant general secretary at the Transport Salaried Staffs’ Association (TSSA), said: “We are looking for a one year deal which keeps our members ahead of inflation which is now standing at 5.3% according to the latest retail prices index (RPI).
“The offer in the first year at 4% does not help our members stay ahead in the cost of living race, regardless of what he is offering down the line. At a time of rising fuel and utility bills, this is simply not enough.”
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