The HK$2 Joy-Ride scheme in action
Or how not to spend HK$5bn per year of public money
In a piece of fiscal madness, in Oct-2011 the HK Government under then-Chief Executive Donald Tsang decided to subsidize public transport companies to reduce fares for those aged 65 or over to HK$2, regardless of means. For reasons I haven’t fathomed, the proof-of-age payment card for this is now known in English as the “JoyYou” card, but I will call it the Joy-Ride card.
Implementation began in 2012 and was eventually expanded to almost all forms of public transport, including “Public Light Buses” (minibuses), street trams and ferries. You can even get a ferry ride to Discovery Bay, an enclave of private housing on Lantau Island, for HK$2, costing the Government the difference (about HK$53.8) each way. That’s a 96.4% subsidy and frankly, it might as well be 100%. In the 2025 budget, there was a plan to cut subsidies to a maximum of 80% (for fares normally over $10) but this has not yet been implemented.
On 14-Jan-2020, then-Chief Executive Carrie Lam, whose specialty became throwing around public money without means-testing, decided to cut the age limit to 60. This was pure populism in the wake of her, shall we say, “somewhat-misguided” Extradition Bill havoc.
By 2025, the estimated mid-year population of 7.528m included 2.432m over 60, or 32.3%. Almost one-third of the population now attracts this subsidy.
Including me.
It’s crazy. In 2024-25 it cost HK$4.39bn, and probably closer to HK$5bn in the current year of taxpayers’ money to do this. In addition, there is the Public Transport Fare Subsidy Scheme, which cost HK$2.44bn in 2024-25 and rebates 1/3 of expenditure above $500 per month with a cap of $400 (when expenditure reaches $1700), regardless of age or financial means.
Somehow I survived my cancer long enough to reach 60 on 29-Aug-2025 and formally become “elderly” by this definition. While I can’t get out much any more, I made a special effort the day after my birthday and took my first Joy Ride, in the photo above.
Every resident over 60 that I know has claimed this benefit - it’s economically irrational not to - but it’s also economically irrational to be running this scheme in the first place. Welfare should be for the needy, not for the needless. The $2 scheme is but one of several schemes which are either not means-tested or have huge exemptions in them. Taxes on all manner of things have already begun to rise to pay for them, expanding the budget and moving HK further away from Article 107 of the Basic Law.
Some readers may think that non-means-tested benefits are some sort of reward for reaching old age, a chance to lean back and enjoy subsidies funded by others, but take it from me - being old is a nice problem to have and that is a reward in itself. And why should those who don’t live to enjoy their 60s, 70s, 80s and even 90s subsidize those who do?
Lovely to see you out and about, continuing to inform us of all the shady stuff going on!
Just joined, thanks to our fantastic hero of HK, Mr David Webb!