Rail strike
The 24-hour strike was set to cause widespread disruption over the bank holidayGetty

The bank holiday rail strike has been called off as both unions involved have pulled out of the proposed walkout.

Both the TSSA and RMT unions have cancelled the 24-hour strike action which was set to cause severe disruption to services from 5pm on 25 May (Monday).

The TSSA was the first to announce it would end the planned industrial action after agreeing with Network Rail an improved offer over pay.

Manuel Cortes, general secretary of TSSA said: "Our negotiating team at Acas has received a revised offer from Network Rail. As a result of this, they have suspended the planned industrial action, pending the outcome of a meeting of our workplace representatives next week."

The huge disruption to services was still expected to take place unless the RMT union also pulled out of the strike as they have five times as many members working at Network Rail as TSSA.

It was estimated as much as 90% of all trains could have been cancelled as a result of the strike.

RMT general secretary Mick Cash said: "Following the Acas talks, RMT has received a revised offer that enables us to suspend the planned industrial action while we consult in full with our Network Rail representatives."

Union members originally rejected an offer of a four-year deal with a £500 ($784) payment this year, inflation linked pay and a promise of no compulsory redundancies until the end of 2016, as the proposals fall "well short" of what is required for living standards.

There are no details as to what Network Rail's improved offer contains.