Authorities will “review the annual licence fee for electric private cars, parking meter charges, as well as the fixed penalties for traffic offences for better traffic management,” he told lawmakers. “Based on preliminary estimation, the relevant adjustments could generate about HK$2 billion additional revenue per annum.”
Hong Kong Financial Secretary Paul Chan delivers the 2025 Budget at the Legislative Council on February 26, 2025. Photo: Kyle Lam/HKFP.
The HK$2 fee for 15 minutes at parking meters has remained unchanged for three decades, while the HK$320 penalty for illegal parking has not changed since 1994.
Ming Pao cited sources on Wednesday as saying that jaywalking fines may rise from HK$600 to HK$700, whilst parking tickets may rise to HK$400.
A government source told HKFP on Wednesday that tunnel fees will also be reviewed within the year.
Spending cuts
Around 3 million illegal parking tickets were issued in 2023, generating HK$964 million in revenue for the government, police said last year, according to local media. A 2017 proposal to increase parking fines to HK$500 was rejected by lawmakers at the time, as was a follow-up suggestion to hike them to HK$400.
Chan opened his speech by describing the 2025 Budget as a “reinforced version” of the fiscal consolidation programme.
“Strictly containing public expenditure is a must, but we should proceed in a steady and prudent manner and be careful to find a balance among the various impacts that may arise in the process,” he said.
