Earlier today, Chief Executive CY Leung (after consulting the Executive Council) approved a plan to increase taxi fares, effective April 9.
The base rate (a.k.a. “flagfall”) for taxis will be increased by HKD2, meaning urban taxis (red) will start at HKD24, New Territories taxis (green) will start at HKD20.50, and Lantau taxis (blue) will start at HKD19.
Incremental charges (you know, fare jumps, the thing that happens when the meter beeps) in the first-tier distance category will be increased by HKD0.10. That means every 200 metres travelled will cost you HKD1.70 in an urban taxi, HKD1.50 in a New Territories taxi, and HKD1.50 in a Lantau taxi.
After the first-tier distance (which is capped at nine kilometres for urban taxis, eight kilometres for New Territories taxis, and 20 kilometres for Lantau taxis), fare jumps will be increased by HKD0.20 each to HKD1.20, HKD1.20, and HKD1.40, respectively.
The extra baggage charge has also been raised from HKD5 to HKD6 per piece, so leave your abandonment issues at home. All other charges are the same though, so feel free to bring however many dogs/cats/birds/dragons you would normally bring.
If you’ve progressively become more confused by the way we’ve phrased and/or displayed this information, here’s a handy chart from the government:

Taxi fares were last raised in December 2013. In a press release, the government stated that this year’s increase was approved with the effect that “fuel prices, persistent inflation and the commissioning of new railway lines” would have on taxi drivers’ income.
“The trade hopes that through increasing drivers’ income, new blood will be injected into the trade, and the trade will be encouraged to improve its service and invest more in new facilities, so as to enhance the overall taxi service quality,” a spokesman for the Transport and Housing Bureau said.
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