777,
I sympathise to a degree with you, but over 2 years it's probably going to ensure that our salary stays roughly aligned with the cost of living. From what the Union says in the web article, it sounds like the Company were trying to hit us big time with degradation of T&Cs and an even lower percentage rise if not pay freeze. With 2.1 million unemployed I think it's an acceptable deal.
Regards, ADIS