The latest pay offer will see workers receive a 6% wage increase over two years as well as two one-off payments of £250 by the end of 2017.

In addition workers will see their paid annual leave entitlement increase by two days by January 2019 and receive greater flexibility on taking unpaid leave during the Christmas shutdown.

Tower crane drivers currently earn packages worth around £60,000 a year and its latest offer would see drivers receiving pay increases totalling 19.8% over the last five years.

Crane drivers at the firm who are union Unite’s members will be balloted on whether they wish to accept the offer by Friday 15 September.

The strike action would have seen widespread disruption on scores of construction sites including Tottenham Hotspur’s new £800m stadium site.

Unite regional officer Paul Lomax said: “We are pleased that HTC Wolffkran returned to the negotiating table and that an improved offer could be made.

“If members reject the improved offer then Unite will reschedule the industrial action.”