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Paul Chan cautions against shifting HK$2 subsidy costs to transport firms

share-iconSaturday, January 04 comment-icon2 weeks ago 8 views
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Paul Chan cautions against shifting HK$2 subsidy costs to transport firms

Credited from: SCMP

  • Paul Chan Mo-po, Hong Kong's finance chief, has warned against shifting the costs of the HK$2 concessionary fare scheme for elderly and disabled residents to transport companies.
  • The scheme, which costs taxpayers about HK$4 billion annually, allows eligible passengers to access public transport at reduced fares since its introduction in 2012.
  • Chan emphasized that making transport operators cover costs might lead to higher ticket prices for other commuters, as companies could raise fares to offset losses.
  • During a consultation, attendees suggested transport firms should shoulder some financial responsibility without increasing fares, but Chan remained cautious about this approach.
  • Authorities are currently reviewing the scheme and have promised to increase measures to prevent any abuse of the subsidy by ineligible individuals.

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