London Underground workers are set to receive an above inflation pay rise under the final year of a long-term agreement.
The figure will be based on RPI inflation for February, which will be published in March, plus 0.2%.
January’s inflation figure was 7.8%.
“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 amount of the pay increase for 2022/23 will be based on the RPI figure for February, which will be published in March.
“As with previous years, we would therefore expect to be able to confirm implementation timelines in April.
“In the meantime we continue to focus on supporting London’s recovery and on making our organisation even more efficient.”
TfL is obliged to honour the agreement, despite the unforeseeable rise in inflation over the last year.
An emergency funding deal between the Government and Transport for London was extended earlier this month until midnight on Friday.
Talks have been held to try to reach a long-term funding agreement, with London’s mayor Sadiq Khan warning there will be a big impact on transport services in the capital without a deal.