Tube workers offered 4% pay rise by London Underground
Tube staff are being offered an immediate 4% pay rise as part of a five-year deal proposed by London Underground (LU).
It said employees would be given increases in the four subsequent years of inflation plus 0.25%.
However, the TSSA union said the offer was "simply not enough", while the RMT said the proposal was "disappointing".
LU called the offer "fair and affordable". Union bosses have two weeks to consider the offer.
Howard Collins, LU's chief operating officer, said of the deal: "It will see staff gain real-terms pay increases and stability over the coming years."
It covers the period from April 2011 to April 2016 - which includes the London 2012 Olympic Games.
But TSSA negotiator Doug Blundell said: "We were looking for a one-year deal which keeps our members ahead of inflation, which is now standing at 5.3% according to the latest Retail Price Index.
"London Mayor Boris Johnson's offer in the first year at 4% does not help our members stay ahead in the cost of living race, regardless of what he is offering down the line.
"At a time of rising fuel and utility bills, this is simply not enough.
"Promises of jam tomorrow won't wash."
The RMT union is yet to comment further on the pay offer.
The previous pay deal expires this month. It saw staff get a 1.5% increase in year one and inflation plus 0.5% in year two.