Fishing News

McConalogue announces Brexit liquidity aid scheme for fisheries cooperatives

“I’m happy to announce right now the implementation of an extra advice of the Seafood Activity Power, designed to help fisheries cooperatives to beat the impacts of the discount in quotas arising from the Commerce and Cooperation Settlement.  Our Fisheries Co-operatives are an integral a part of our fisheries sector, offering important companies for member vessels and vital employment in our coastal communities. The Cooperatives collectively handle the gross sales and distribution of near €100 million price of fish.  Over the course of 2021, gross sales from the co-operatives had been diminished by roughly €15 million in comparison with 2019, translating to a lack of fee for the cooperatives of as much as €1.2 million.  This induced money move difficulties for the cooperatives all through 2021, limiting their monetary capability to re-configure and re-structure their companies to adapt to the modified buying and selling setting underneath the Commerce and Cooperation Settlement.  The Brexit Fisheries Cooperative Transition Scheme I’m saying right now will present liquidity help of 7.5% of the discount in fish gross sales for the Co-operative’s boats in comparison with 2019, as much as a most cost of €250,000 per qualifying Co-operative.  The Scheme shall be open to fisheries cooperatives which are primarily targeted on TCA quota species, i.e. cooperatives whose members’ landings comprise 75% or extra TCA quota species”.

Additional particulars of the Scheme shall be obtainable from

In March 2021, Minister McConalogue arrange the Seafood Sector Activity Power to look at the implications for the Irish Fishing trade and coastal communities notably dependent upon it arising from the Brexit Commerce and Cooperation Settlement, agreed between the European Union and the UK.  The Activity Power, chaired by Aiden Cotter, was charged with recommending initiatives that could possibly be taken to supply helps for improvement and restructuring, in order to make sure a worthwhile and sustainable fishing fleet and to establish alternatives for jobs and financial exercise in coastal communities depending on fishing. 

Minister McConalogue obtained the Report of the Seafood Task Force – Navigating Change on 11 October 2021. The report advisable 16 help schemes at a complete estimated value of €423 million.  These stakeholder suggestions are being urgently examined throughout Authorities with specific regard to obtainable funds, eligibility of the advisable measures for funding underneath the EU Brexit Adjustment Reserve and with regard to State Assist guidelines and the Public Spending Code.  This course of may be very effectively superior. 

Suggestion of the Activity Power regarding the FLAG scheme

Part of the Activity Power report said: “The Activity Power acknowledges that the Cooperatives have been instantly impacted by the quota transfers underneath the TCA. Usually they’ve challenges, within the short-term, sourcing fish from international boats or importing processed fish to promote on. Their gross sales have been, and can proceed to be, impacted considerably by the lack of quota obtainable to their member vessels. Based mostly on the proposal submitted by the 4 Co-ops, the Activity Power considers that this proposal is broadly according to Part V of the EU BAR State Assist Pointers for the fishery and aquaculture sector. The Activity Power recommends that it must be developed into a totally costed proposal topic to the caveats detailed in part 2.2”.


Brexit Fisheries Cooperative Transition Scheme

This scheme is open to Fisheries Co-operatives, registered with the Registrar of Pleasant Societies, whose premises are accepted by the Sea-Fisheries Safety Authority underneath Regulation (EC) No 853 / 2004, and which are primarily targeted on TCA quota species and are reliant on the fee earned from landings of their members’ vessels for income. For the needs of this scheme a co-operative is taken into account to be primarily targeted on TCA quota species if the entire of its members landings is comprised of 75% or extra TCA quota species.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button