Transport subsidies offered by the government - the HK$2 fare scheme for the elderly and the Public Transport Fare Subsidy Scheme - will not be canceled as a review is set to be completed within this year, said Paul Chan. The financial chief emphasized that the government has no intention of cancelling these schemes, with the review aiming to enable the continued provision of the subsidies in a financially sustainable manner. Chan said the annual expenditure of the HK$2 fare scheme has increased by over 200 percent from HK$1.3 billion in 2019-20 to about HK$4 billion in 2023-24, while the annual expenditure of the Public Transport Fare Subsidy Scheme has doubled from HK$1.7 billion in 2019-20 to the revised estimate of about HK$3.5 billion in 2023-24. Government sources said today that authorities have no intention of changing the age threshold of the beneficiaries of the HK$2 scheme. When asked if the review will lead to changes in the types of transportation covered by the scheme, or whether the scheme should continue to cover cross-harbor trips, sources said all aspects will be taken into account during the review.
