Rail unions' have amassed a £66MILLION war chest

Rail unions have amassed a £66million warfare chest that can assist bankroll additional strike distress set to blight passengers from at present.

The scale of the monetary reserves held by the RMT and Aslef unions suggests they've the assets to struggle a prolonged nationwide battle with rail firms towards the introduction of driver-only trains.

Putting Southern Rail guards will get £60 a day from the RMT to remain off work from at present till Monday, after which throughout a six-day strike from January 9.

Commuters at East Croydon station throughout one other Southern strike on December 13

The RMT has property and shares totalling £53million, whereas the drivers' union Aslef – which is becoming a member of the six-day walkout, forcing a shutdown of the corporate's providers – owns £13million of belongings.

It's feared the unions' big reserves and the wealth of Southern Rail, whose dad or mum firm is Govia Thameslink Railway, means either side will be capable of dig of their heels and proceed the dispute for months, if not years.

There are additionally considerations that the economic motion may unfold to different rail companies the place driver-only trains are deliberate, resembling Merseyrail.

The RMT and Aslef say driver-only trains, on which drivers fairly than guards function doorways, will have an effect on security.

Additionally they declare they may consequence within the lack of practice guards regardless of Southern's insistence that jobs are assured and workers would stay on board to test tickets and assist the general public.

The Conservative MP for Arundel and South Downs, Nick Herbert, mentioned final evening: 'Commuters are shedding revenue and even their jobs due to this motion whereas rich unions play the very capitalist system that their hard-Left leaders say they need to convey down. The union leaders' actual motivation for this unjustifiable strike is political.'

The RMT has property and shares totalling £53million 

His Tory colleague Chris Philp, the MP for Croydon South, added: 'Passengers might be horrified that these militant unions might be inflicting distress whereas sitting fairly on fat-cat salaries and big reserves.'

The RMT's £32million property portfolio contains an £18million block of luxurious flats in Clapham, South London.

The union's Maritime Home in Clapham Outdated City accommodates 31 flats price round £500,000 every and a number of other workplace areas. The RMT – whose common secretary Mick Money earned £143,000 final 12 months – lets areas within the constructing to tenants.

The union additionally owns its £8million headquarters in London, sandwiched between Euston station and the unique British Renaissance Resort. The RMT made £577,000 in lease from its 4 properties final 12 months.

And regardless of the union's assaults on Metropolis fats cats, it owns a whole bunch of 1000's of shares in banks and prime companies, together with £266,000 in BP, £109,000 in Barclays and £378,000 in GlaxoSmithKline.

Stephen James tweeted this image, writing: 'Simply going to attend it out for the subsequent practice to London'

The RMT's inventory market portfolio quantities to £17.6million and contains six-figure holdings in 65 different blue-chip firms together with companies resembling Vodafone and British American Tobacco, which have been accused of transferring income overseas to keep away from tax.

It's with such reserves that the RMT may give 400 conductors on Southern a day by day tax-free strike allowance equal to a gross annual wage of greater than £18,000.

Aslef is known to not be making strike funds in the course of the six-day walkout, however Southern's drivers earn an annual base fee of £49,660 for a four-day, 35-hour week. Common pay within the UK is £27,200.

The drivers' union – whose common secretary, Mick Whelan, was paid £128,126 final 12 months – has a property empire price £10.5million throughout London and in Cambridge. Its seven properties embody its £7million head workplace in Farringdon, central London, the place it earned greater than £100,000 in lease final 12 months.

No departures at London Victoria: Passengers mentioned, 'We've suffered a year-long nightmare due to the collapse of Southern Rail'

Aslef, which made £171,000 from its investments in 2015, has a inventory market portfolio price £1.7million. Its accounts don't reveal the place these investments are held.

Earlier this 12 months, Mr Whelan threatened the Authorities with 'ten years of commercial motion'.

The RMT, whose belongings fall to £47.6million minus liabilities, mentioned: 'The union has efficiently managed its funds to generate surplus funds which were invested in property and shares to generate revenue for the union to make use of in funding Orphan Fund funds, hardship funds and different advantages to its members.'

Aslef, whose belongings fall to £9.7million after liabilities, mentioned: 'Our belongings have been amassed over the past 136 years... The union has unbiased elected trustees and is audited independently yearly.'  

The Conservative MP for Arundel and South Downs, Nick Herbert, mentioned final evening: 'Commuters are shedding revenue and even their jobs due to this motion 

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