2 weeks Ago By SCMP Editorial
When it comes to cutting government expenditure to narrow a gaping budget deficit, the earlier, the better. But in the revamp by the Hong Kong administration to rein in the multibillion-dollar bill for the transport fare subsidy scheme, the new measures were expected to take up to 18 months to put in place. Even though officials are trying their best to speed up the implementation, the process is still unacceptably long.
The Post has expressed concerns that the changes to the HK$2 (US$0.26) concession fare for seniors and passengers with disabilities can only be implemented in September 2026. The latest news is that the key adjustment – charging 20 per cent of fares that exceed HK$10 – can be brought forward to April 2026, five months ahead of the original schedule.
The advance is expected to help save the government HK$260 million. But another key feature to limit the spending – a monthly cap of 240 subsidised trips – will take even longer to take effect. The latest plan is to impose the cap a year after the “$2 and 20%” formula is put in place.
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