Travellers have been advised to avoid the rail network on what is the fifth day of industrial action.
In order to halt the walkouts, train drivers have been offered a pay rise of eight per cent over two years.
The Rail Delivery Group said it was offering a “landmark outline proposal” that would deliver more reliable services for passengers, in exchange for a back-dated pay increase of 4 per cent for 2022 and 4 per cent for this year.
In response, RMT general secretary Mick Lynch said: “While the Secretary of State and the Rail Delivery Group spin about the need for reform to fund pay rises, the truth is that the money was always there but it’s being salted away by a gang of profiteers and their mates in the Government.
“It’s outrageous that the interests of workers, passengers and the taxpaying public are all sacrificed to the greed of a handful of private transport companies who are being guaranteed profits when they can’t run a railway even when we’re not on strike.”
Unions hits out at rail company profits
09:34 , Bill Mcloughlin
Train companies at the heart of the long-running rail dispute have made hundreds of millions of pounds in profits since the Government put them on new contracts when the Covid-19 pandemic hit, a union claims.
The Rail, Maritime and Transport union (RMT) said while rail workers have had their pay frozen in the same period, official data showed that the private train operators made £310 million in taxpayer-funded profits between March 2020 and September 2022.
By September this year, that figure will be in excess of £400 million, all of which can be turned into shareholder dividends, said the union.
The RMT said if the money had been reinvested back into the rail industry, £310 million would have been enough to fund a 10.6 per cent pay rise for rail workers.
The union has rejected a pay offer from train companies of 4% last year and 4% this year, saying a "host of unacceptable changes" were included such as the widespread expansion of driver only operation on train services.
The report was published as RMT members at Network Rail and 14 train companies continued with a 48-hour strike which will cripple services across the country again on Saturday.
Only around one in five trains will run, with services starting later and finishing earlier.
RMT general secretary Mick Lynch said: "While the Secretary of State and the Rail Delivery Group spin about the need for reform to fund pay rises, the truth is that the money was always there but it's being salted away by a gang of profiteers and their mates in the Government.
"It's outrageous that the interests of workers, passengers and the taxpaying public are all sacrificed to the greed of a handful of private transport companies who are being guaranteed profits when they can't run a railway even when we're not on strike.
"While executives and the rich make millions, our members are being asked to accept substandard pay offers and a ripping up of their hard fought for terms and conditions, during an escalating cost-of-living crisis.
"It's time the interests of workers and passengers were put first.
"We need a negotiated settlement with both the rail operators and Network Rail and the Government needs to stop blocking these deals."
Disruption in parts of London
10:13 , Bill Mcloughlin
London’s travel network is reporting part closures or suspensions due to the strike action.
The Circle, District, and Bakerloo lines are all reporting disruptions or delays as a result of the strike.
The DLR, Overground and Elizabeth Lines are either severely delayed or part closed.