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Tube strike could cost London businesses up to £300m

As London commuters struggle to get into work this morning, business leaders in the capital have said that the ongoing Tube strike could cost up to £300m.

The strike, which started at 18:30 on Wednesday, finished at 21:00 this evening and is the first major shut down in 13 years.

Around 20,000 staff from four rail unions are currently in disputes about the Night Tube service, set to launch in September, as well as a disagreement over the annual pay package offered to Transport for London (TfL) workers.

The FSB estimated today’s underground shutdown will cost the city around £300m. In Soho and Mayfair last night some restaurants reported a drop in trade of as much as 60 per cent on a normal July evening.

John Allan, national chairman for the Federation of Small Businesses, said there are many options for workers in London: “For example, they may wish to consider allowing their employees to work remotely, or hold meetings with clients online rather than in person.“Mike Brown, managing director of London Underground, described the strike as “totally unnecessary”.

He accused union leaders of failing to engage in talks. TfL has hired 137 extra drivers had been recruited to operate the Night Tube, and accused union leaders of failing to engage in talks.

He said: “No one is being asked to work any more hours and most staff will not be affected at all.”

RMT leader Mick Cash said: “The strike action is rock solid across all lines and depots.”

This was posted in Bdaily's Members' News section by Ellen Forster .