As Financial Secretary Paul Chan announced in the budget last month, instead of a flat HK$2 fare, citizens aged 60 or above will have to pay 20 percent of any standard fare costing more than HK$10.
Speaking to reporters after an event, Sun said the HK$680 million saving is “not a small amount,” and it accounts for more than 10 percent of the expenditure on the scheme.
Sun also said the amended scheme would encourage the elderly to take short-haul buses instead of long-haul ones for short journeys, which will save the government even more money.
“This nearly HK$700 million saving is based on the assumption that the travel habits and patterns of the beneficiaries remain unchanged. However, implementing the changes means they will choose cheaper transportation,” Sun said.
He said the amended scheme would not lose its original purpose, while its financial sustainability would be enhanced.
