Olympic pay deal for Tube drivers edges closer

Here's an extended version of the TV piece I have done on the latest Olympic pay deal for Tube drivers.

London Underground (LU) have said that Tube drivers have agreed a pay deal for the Olympics next summer.

On the surface, it looks better than the £500 payment agreed with Network Rail employees.

On the Tube, they'll get a £500 bonus for working during the Olympics and Paralympics but they will also get increased overtime payments.

It is complex but I'm told it roughly means double time for overtime - then double time and a bit for working after 01:30.

According to the unions, that could mean a driver could earn £1,800 extra on average. Some could earn much more.

The deal was agreed between LU and the Train Functional Council for drivers which includes ASLEF and the RMT.

We're told it doesn't include a no-strike deal.

The RMT executive have yet to sign it off and they say they are looking for a deal that covers all employees not just drivers. However, LU believe it's a done deal.

Next up, there is the annual pay deal to get sorted...