Tube drivers in London could receive salaries of more than £50,000 a year under a four-year wage deal negotiated between London Underground, and the Rail Maritime and Transport (RMT) union.
The RMT union is currently consulting on a four-year pay deal, which London Underground said offered the prospect of no industrial action over pay until at least 2015. Under the deal, staff will receive a 5% pay increase this year followed by retail prices index (RPI) inflation plus 0.5% in the subsequent three years.
Mike Brown, managing director of London Underground, said: "This fair and affordable multi-year pay deal is a good deal for London – providing a platform for stability over a crucial time for the tube network.
"This deal enables our employees' salaries to keep pace with the cost of living whilst being realistic given the current economic situation and the pressure on Transport for London's finances.
"We can now get on with the vital task of delivering the huge improvements to the network that Londoners need and deserve while we continue to develop our detailed plans to keep London moving during next summer's Games."
Are above-inflation pay rises such as this fair in the current economic climate?
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