By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Rail strikes in England near end after unions and UK government reach deal
News

Rail strikes in England near end after unions and UK government reach deal

News Room
Last updated: 2024/08/14 at 2:25 PM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

UK ministers have offered train drivers in England a pay rise of more than 14 per cent over three years, in a deal reached with the union that is set to end a wave of strikes on the railways.

The Aslef union’s leadership said the deal would end “the longest pay dispute in the recent history of Britain’s railways”, and urged members to accept the deal in an upcoming ballot.

If agreed the deal would end one of the last outstanding public sector pay disputes that have gripped the country over the past two years. Ministers reached a 22 per cent pay deal with junior doctors last month.

Aslef, which has staged 18 one-day strikes since the dispute began in June 2022, had been pushing for a major pay rise to help its members cope with the cost of living crisis.

Aslef leader Mick Whelan said: “The offer is a good offer — a fair offer — and it is what we have always asked for, a clean offer, without a land grab for our terms and conditions that the companies, and previous government, tried to take in April last year. We will put it to members with a recommendation for them to accept.”

Transport secretary Louise Haigh said: “If accepted, this offer would finally bring an end to this long-running dispute, and allow us to move forward by driving up performance for passengers.”

The partly-backdated pay offer from the government is 5 per cent for the 2022-2023 financial year, 4.75 per cent for 2023-2024, and 4.5 per cent for 2024-2025. It totals 14.25 per cent across the three years.

In April 2023, Aslef’s leadership rejected an offer of an 8 per cent rise over two years from the previous government, in part because the deal was tied to significant reforms of working practices.

The last Conservative government and train companies had insisted that the railway needed to cut costs, and that drivers needed to accept significant changes to the way they work in order to unlock a pay deal.

Drivers are largely employed by private companies, which are contracted by the government to run train services.

Three transport unions began rail strikes in the summer of 2022 in rows over pay rises and potential changes to working practices as the industry looked to cut costs in response to a fall in passenger numbers during the Covid pandemic.

Aslef was the only union still in dispute after the other main transport unions, the RMT and TSSA, agreed pay deals to end their disputes with both train companies and Network Rail, the publicly owned infrastructure manager.

The government on Wednesday estimated that the combined impact of two-years of rail strikes cost the economy more than £1bn, including potential reductions in spending on hospitality and retail. 

It also released industry estimates that found the railway has lost £850mn in revenue during the wave of strikes by several unions since June 2022. 

Read the full article here

News Room August 14, 2024 August 14, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Why Stocks Are Sinking (Despite Record Earnings Growth)

Watch full video on YouTube

How The Economic Fallout From The Iran War Could Get Worse

Watch full video on YouTube

Osotspa Public Company Limited 2026 Q1 – Results – Earnings Call Presentation (OTCMKTS:OSOPF) 2026-05-19

This article was written byFollowSeeking Alpha's transcripts team is responsible for the…

LIVE: Fed Chair Jerome Powell delivers remarks at Harvard University

Watch full video on YouTube

Why Wall Street Is Investing In Trading Cards

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

Osotspa Public Company Limited 2026 Q1 – Results – Earnings Call Presentation (OTCMKTS:OSOPF) 2026-05-19

By News Room
News

Fidelity International Small Cap Fund Q1 2026 Commentary (FISMX)

By News Room
News

Equinor ASA (EQNR) Shareholder/Analyst Call Prepared Remarks Transcript

By News Room
News

Credit Saison Co., Ltd. 2026 Q4 – Results – Earnings Call Presentation (OTCMKTS:CSASF) 2026-05-16

By News Room
News

ABN AMRO Stock: Cost Cuts And Capital Returns Support A Buy Rating (OTCMKTS:AAVMY)

By News Room
News

ConocoPhillips: More Upside Given Long-Term Cash Flow Tailwinds (NYSE:COP)

By News Room
News

MaxCyte, Inc. (MXCT) Q1 2026 Earnings Call Transcript

By News Room
News

Draganfly Inc. (DPRO) Q1 2026 Earnings Call Transcript

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?