diff --git a/src/subsidy_gui.cpp b/src/subsidy_gui.cpp
--- a/src/subsidy_gui.cpp
+++ b/src/subsidy_gui.cpp
@@ -159,7 +159,15 @@ struct SubsidyListWindow : Window {
 				if (IsInsideMM(pos, 0, cap)) {
 					/* Displays the two offered towns */
 					SetupSubsidyDecodeParam(s, SubsidyDecodeParamType::Gui);
-					SetDParam(7, TimerGameEconomy::date - ymd.day + s->remaining * 32);
+					/* If using wallclock units, show minutes remaining. Otherwise show the date when the subsidy ends. */
+					if (TimerGameEconomy::UsingWallclockUnits()) {
+						SetDParam(7, STR_SUBSIDIES_OFFERED_EXPIRY_TIME);
+						SetDParam(8, s->remaining + 1); // We get the rest of the current economy month for free, since the expiration is checked on each new month.
+					} else {
+						SetDParam(7, STR_SUBSIDIES_OFFERED_EXPIRY_DATE);
+						SetDParam(8, TimerGameEconomy::date - ymd.day + s->remaining * 32);
+					}
+
 					DrawString(tr.left, tr.right, tr.top + pos * GetCharacterHeight(FS_NORMAL), STR_SUBSIDIES_OFFERED_FROM_TO);
 				}
 				pos++;
@@ -183,7 +191,15 @@ struct SubsidyListWindow : Window {
 				if (IsInsideMM(pos, 0, cap)) {
 					SetupSubsidyDecodeParam(s, SubsidyDecodeParamType::Gui);
 					SetDParam(7, s->awarded);
-					SetDParam(8, TimerGameEconomy::date - ymd.day + s->remaining * 32);
+					/* If using wallclock units, show minutes remaining. Otherwise show the date when the subsidy ends. */
+					if (TimerGameEconomy::UsingWallclockUnits()) {
+						SetDParam(8, STR_SUBSIDIES_SUBSIDISED_EXPIRY_TIME);
+						SetDParam(9, s->remaining);
+					}
+					else {
+						SetDParam(8, STR_SUBSIDIES_SUBSIDISED_EXPIRY_DATE);
+						SetDParam(9, TimerGameEconomy::date - ymd.day + s->remaining * 32);
+					}
 
 					/* Displays the two connected stations */
 					DrawString(tr.left, tr.right, tr.top + pos * GetCharacterHeight(FS_NORMAL), STR_SUBSIDIES_SUBSIDISED_FROM_TO);