I'm surprised the shares haven't taken a dent after reading the pay proposal, I'm sure there will be some sort of industrial action as a result of this kick in the b*lls.
As has already been mentioned this is actually a real terms pay cut not a rise, although I do love that graph. If you isolate the pay award part of the column it looks pathetic in comparison to RPI.
Small aside here, I wonder why the RPI is calculated on those months in particular and whether these differ significantly from the rest of the year.
I could go on a huge rant but,
NO from me will save time.