Hong Kong Budget 2024: Costly transport subsidy schemes face review amid HK$100 billion deficit
Hong Kong will review two transport subsidy schemes that have resulted in significant expenditure over the years, the finance chief has said as he predicted a deficit of over HK$100 billion for the current fiscal year. Addressing lawmakers during the annual budget speech on Wednesday, Secretary for Finance Paul Chan said government departments would review the transport concessions for the elderly and disabled, as well as the rebate scheme for commuters, to ensure that the government could continue to offer the benefits in a “financially sustainable manner.” The “HK$2 scheme,” named for the fl...