Tube strikes to cost hospitality sector £110 million
Significant disruption is expected on Underground services from Sunday, September 7 until late Friday morning.
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London is bracing for a week of commuter chaos as members of the Rail, Maritime And Transport union (RMT) stage a five day walkout.
Tube lines will effectively shut down as different parts of the RMT membership walk out on different days.
Just the Elizabeth Line and Overground line will operate as normal (a separate dispute on the Docklands Light Railway will mean no DLR on Tuesday and Thursday).
UK Hospitality, the trade body for hospitality businesses in the UK, say the industrial action will have a "major impact on businesses".
LBC has been told that the total cost to the sector is up to £110 million.
Read more: Tube strike 'remains on' ahead of walkout as Londoners face week of disruption
Kate Nicholls, Chair of UKHospitality, told LBC "this level of impact comes at a time when businesses can least afford it, having just been hit with £3.4 billion in additional annual cost".
The industry leader said it was "crucial that all parties involved get round the table to negotiate a solution that can avoid these damaging strikes."
There are around 10 million people on average each day in London. The total economic loss due to the strike could hit £230 million.
Analysis from the Centre for Economics and Business Research warned the true economic hit was likely to be significantly higher once the indirect effects were considered.
Neil Sebba is the Managing Director of Tossed - who operate 13 salad bars across London - said it was "extremely disappointing" and that "the timing is probably the most disappointing part of this".
He told LBC that TFL and the RMT should "get around the table and sort it out… I wish they could do this in another way that doesn't have all these repercussions".
Mr Sebba also conceded that a last minute settlement could be problematic.
"It's almost as frustrating in some respects when it gets settled at the last minute because people make their alternative plans and you still see an impact, come what may."
A spokesperson for the Mayor of London urged the RMT and TfL to get around the table to resolve this matter and "avoid this industrial action”.
Though reports suggest the RMT have urged Sir Sadiq Khan to intervene.
However, the Conservatives argue that the Mayor needs to "roll up his sleeves and sort this out".
Keith Prince, the Transport Spokesperson for the City Hall Tories, accused Sir Sadiq of causing this by previously "throwing money at the unions" saying that he hadn’t found "any money down the back of the sofa for his union paymasters" – citing reports from last year that City Hall gave the RMT Union £30 million to avert future strikes.
RMT union members are walking out in a dispute over pay and conditions, including a demand for a 32-hour working week. The RMT said TFL management had "refused to engage seriously with union demands".
The RMT is seeking a 32-hour working week but union sources say that "even a small cut in hours would take the pressure off" – suggesting it is preparing to compromise rather than have to ask its 10,400 members to lose pay by going on strike.
A spokesperson for the RMT told LBC" "The public statements from TfL have been disappointing and intransigent
"We are seeking a revised offer which addresses our members concerns about pay conditions and agreements.
"Overtures have been made by RMT to break the impasse but have been rejected so far.
"Meanwhile, the strikes remain on."
Claire Mann, TfL’s chief operating officer, said: "We are disappointed that the RMT union has announced strike action. We welcome further engagement with our unions about fatigue and rostering across London Underground, but a reduction in the contractual 35-hour working week is neither practical nor affordable."
Sources at TfL says it would cost "tens of millions of pounds" to reduce working hours. "It’s not something we are going to entertain," one senior official said.