London Underground workers are set to receive an 8.4% pay rise from next month (April) as part of a deal agreed by the Mayor of London Sadiq Khan.
A four-year agreement was made back in early 2020, which was backdated to include 2019/20, and so which covers the period between 2019/20 and 2022/23.
According to Transport for London (TfL), the deal will see about 15,000 station staff and drivers be awarded a pay increase made up of the current retail price index (RPI) as well as an additional 0.2%, despite the rise in inflation over the last 12 months. The Office for National Statistics announced on Wednesday that RPI last month was 8.2%, which will result in an 8.4% rise for workers.
Tube drivers currently earn almost £59,000 a year and could receive almost £5,000 a year more after the rise, which is likely to cost TfL £100 million.
A TfL spokesperson said: “In April, we enter the fourth year of the four-year pay agreement covering staff on London Underground contracts. This binding agreement was made before anyone could have predicted the pandemic’s effects on our finances or the 30-year high inflationary levels that we are now experiencing.
“As per the agreement, the pay increase for 2022/23 will be based on the RPI figure for February of 8.2% plus 0.2%, and we will confirm the plan for implementation with employees in the coming days.”
The Associated Society of Locomotive Engineers and Firemen, which represents most Tube train drivers, added: “We are three years into a four year deal and the Mayor of London is doing the right thing by sticking with a deal agreed in good faith by both sides.
“Tube train drivers who worked throughout the pandemic to keep the capital moving will not suffer a real-term cut in wages as the government fails to get a grip with the cost of living crisis in this country.”