Financial Secretary Paul Chan on Wednesday confirmed that changes are planned to the city's subsidised public transport fares for the over 60s, dubbing the new arrangement "HK$2 flat rate cum 80 percent discount".

Journeys will still cost HK$2 in many cases, but for those that come with standard fares of HK$10 or more, only a discount of 80 percent will be provided.

Another change means the number of subsidised trips per month will be capped at 240, which works out at an average of roughly eight per day.

"This fine-tuned proposal preserves our policy intent while striking a balance between enhancing the sustainability of the scheme and minimising the impacts to the beneficiaries," Chan said in his budget address.

Government sources said the new arrangements are expected to come into force in September 2026.

Meanwhile, the city's Public Transport Fare Subsidy Scheme – which covers people of all ages – is also being made less generous.

Instead of people getting back a third of their monthly travel expenses above HK$400, from June the subsidy will only kick in from HK$500. The subsidy cap will remain at HK$400 per month.

Chan said the changes to the two schemes will save the taxpayer HK$6.2 billion in the coming five years.
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Last updated: 2025-02-26 HKT 16:15