In the process, we should also take the chance to ensure the long-term affordability of the scheme.

The first public transport operator covered was MTR Corporation. The scheme was extended to franchised bus companies (2012-13), ferries (2013), green minibuses (2015) and then other transport operators as various practical issues were overcome. In simple terms, the qualified passenger pays a set fee of HK$2 for the trip and the government reimburses the transport operator the difference between that sum and the actual fare after taking into account the operator’s own discount arrangements.

In 2022, the qualifying age was lowered from 65 to 60 at the behest of then chief executive Carrie Lam Cheng Yuet-ngor.

There are now more than 2.67 million beneficiaries (around one third of the population) and the costs have exploded from HK$1.2 billion in 2019-20 to HK$4.8 billion in 2025-26. All the evidence suggests the scheme has been very popular. Affordable transport costs have encouraged some senior workers to work past normal retirement age, while facilitating many to maintain social and family ties around the city.