The UK allocation of the European Maritime and Fisheries Fund has been distributed fairly to each devolved nation based on factors including respective sizes of fleet, number of ports, sizes of industry, and historical allocations.
All four devolved administrations worked together to agree the allocations.
From next year, the UK fisheries, aquaculture and processing sectors will be able to apply for grants from the scheme to help them grow their businesses. Up to 60% of the cost of equipment will be available to help fishermen adapt to the landing obligation and other aspects of the new Common Fisheries Policy.
Marine and Fisheries Minister, George Eustice said:
“This deal means that fishermen in every part of the UK will have access to a fair allocation of funding to help them buy the equipment they need to adapt to the new Common Fisheries Policy. This will help the fishing industry invest in their businesses and deliver long-term economic growth.”
The size of the UK allocation is currently being decided by the EU Commission. The current European Fisheries Fund is worth €138 million to the UK. We expect the new allocation to be higher.
Allocation of the European Maritime and Fisheries Fund in 2014 – 2020: