The RMT union has announced that a 24 hour national rail strike scheduled for next week has been cancelled.

The move follows talks over railworkers' final salary pension schemes with Network Rail bosses.

The union said a substantive new offer had been made.

The decision will halt what many had been expecting to be a chaotic day for London commuters.

Had a deal not been reached, Network Rail was poised to go to the High Court on Friday in a bid to block the strike action.

Sources suggest the union could have lost in the courts as a result of problems concerning its ballot.

Separate strike action planned for the London Underground will still go ahead next week unless agreement can be reached in 11th hour talks on pay and conditions.