Hong Kong’s HK$2 subsidised bus, train, ferry, minibus and tram fares for the over 60s could be curbed, sources say, with expensive journeys costing more and a daily limit on how many discounted trips can be made.

It's thought the government is mulling a daily cap of eight trips, while discounts of 80 percent will be provided when the standard fare is above HK$10.

For example, a HK$20 standard fare would cost HK$4 once the subsidy is applied.

Officials are not thought to be planning to raise the age when people can start enjoying the cheaper fares.

Financial Secretary Paul Chan said earlier that there is broad public agreement that the HK$2 scheme must be changed as it is not financially sustainable in the long run.

The scheme is expected to have cost some HK$6 billion in the 2024/25 financial year, a jump of around 50 percent from the year before.