Social News
Written by: Huang Weilun
2021-03-29 20:48
Last update date: 2021-03-29 20:55
MTR lowered the fare by 1.7% for the first time under the plus and minus mechanism. The new fare will take effect on June 27. In response to the epidemic, different discounts have been introduced and the fare concession of approximately 5% is maintained.
Although fares are reduced and discounts are introduced, compared with the MTR special discounts for the epidemic launched in mid-2020, the actual fares that passengers have to pay will actually be higher from April onwards. For example, the current 20% discount will be reduced. Up to 5% off, the price difference for some journeys is close to 20%. Under the new discount, the standard price of the MTR Metropolis ticket is 385 yuan, which is also 50 yuan more expensive than the current discounted price of 335 yuan.
The current 20% discount ends at the end of March
Under the influence of the epidemic, MTR launched a 20% discount on July 1 last year. As of March 31 this year, half of the cost will be borne by the government, which is expected to involve 800 million yuan in public funds.
Although the epidemic has not subsided, the economy has not yet recovered, and the unemployment rate is still high, the government has announced early that it has no intention of providing subsidies to the MTR. The MTR management also pointed out that it is difficult to extend the preferential treatment alone.
Addition and subtraction mechanism equation:
0.5 x Change in the Composite Consumer Price Index in December last year (-0.7%) + 0.5 x Change in the nominal wage index of the transportation industry in the fourth quarter of last year (-1.5%) — productivity factor (0) — additional deduction (0.6%) = -1.7 %
Add and subtract mechanism, the first time a negative number appears, the fare is reduced
Today, the Census and Statistics Department announced the year-on-year change in the nominal wage index of the transportation industry in December 2020. According to the MTR's increase and decrease mechanism, the result of an unprecedented fare reduction has occurred. The fare will be reduced by -1.7% on June 27.
MTR also announced a number of discounts, including the "5% Fare Discount for Trips", "Monthly Pass Enhanced Edition" and "MTR Metropolis Tickets" will also offer a $50 discount.
Tung Chung to Quarry Bay cost 4.1 yuan per trip
Although the MTR has reduced fares and introduced concessions, compared with the current concessions for the epidemic, there is still some distance. As long as the existing concessions are over, the actual fares paid by passengers will be more expensive than the current ones.
For example, the original price of an Octopus ticket between Tsuen Wan and Admiralty is 15.2 yuan. Under a 20% discount, it is 12.2 yuan, but under a 5% discount, it is 14.4 yuan, a difference of 18%; the original price of Octopus between Tung Chung and Quarry Bay It is 27 yuan, only 21.6 yuan for a 20% discount, but 25.7 yuan for a 5% discount, a difference of about 19%, and the cost is 4.1 yuan per trip.
Although the fare has been successfully reduced by 1.7% according to the mechanism this year, the calculation results of the MTR fare adjustment equation in the past two years have all touched the "capped" mechanism. The results have not been increased according to the results, and there is still a cumulative increase of 1.58%.
The MTR stated that the relevant increase will be postponed in accordance with the mechanism arrangement and will not be exempted. If the mechanism does not result in a price reduction next year, in addition to the formula increase in the next year, it is more likely that an additional 1.58% will be required.
Metropolitan pass and full month pass discounts are halved to RMB 50
In addition, MTR announced that the MTR Metropolitan Pass and the Enhanced Monthly Pass will be reduced in price from July. For example, the Metropolitan Ticket will sell for $435, and the Tuen Mun-Hung Hom Monthly Pass will cost $600; however, the fare is only Maintain the level of 2019, unchanged, and simply offset the originally scheduled increase.
Under the current epidemic concessions, MTR Metropolitan Tickets and "Monthly Pass Enhanced Edition" also enjoy a 100 yuan discount, with an average of 8.4 yuan and 5.1 yuan per trip respectively.
In this concession, the discount is "shrunk" to 50 yuan. The discount until the end of this year will require passengers to pay 50 yuan more than the current one.
(MTR document)
Tian Beichen: Actually only save 1, 2 cents per journey
Tian Beichen, former chairman of the KCRC and member of the Legislative Council of the Real Political Roundtable, criticized that the MTR has changed the fare from 20% to 5%, and the fare has increased significantly. He believes that under the current economic downturn, the practice is unreasonable.
He also said that the rate of reduction this time was only 1.7%, and the $10 fare would only be reduced by 1, 2 cents. He believed that the income from MTR property development should be added to the equation.
The Deputy Chairman of the Transport Panel of the Legislative Council, Chen Hengpin, also believes that the rate of reduction this time is quite low and will not help the public much. He hopes that the government will extend the 20% discount.
He also believes that the current addition and subtraction mechanism is too simple, suggesting that profit index and social environment should be included in the mechanism equation.
MTR cuts fare for the first time!
The price can be reduced by 1.7% according to the plus and minus mechanism
In the early stage of the Northern Ring Road, only tens of thousands of residents of the Kwu Tung Station will be opened in 2026.
Railroad fans broke into Lo Wu Station illegally to film MTR: reminded to leave for non-detention and investigation
Xintian Development of Residential Land "Zhengzheng" Xindi Land Project Rural School satirizes Xintian Station as Xinhong Base Station
MTR Red Lights | Non-passenger trains on the Tsuen Wan Line were temporarily transferred to the Tsuen Wan Depot yesterday
01News
MTR MTR fare increase