The European Commission has approved two British fisheries aid schemes aimed at conserving threatened EU fish stocks.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The largest involves the spending of £40m (US$66.8m) on the decommissioning of Scottish fishing vessels that target cod, with the aim of reducing catches by between 15% and 20%. To receive grants, boat owners will have to deregister their vessels permanently, surrendering all fishing licences.
A smaller scheme involves the buy-out of licences from fishermen catching salmon with nets off north-east England, boosting its budget from £750,000 to £1.25m. The initial fund has proved insufficient to persuade enough English salmon fishermen to abandon their work.
