ANNOUNCEMENT 17 Apr 2020
On 17 April 2020, the government of the UK announced introducing Fisheries support scheme for fishing business in response to the Covid-19.
NUMBER OF INTERVENTIONS
UK Department for Environment, Food & Rural Affairs, Press Release, “Financial support for England’s fishing businesses unveiled”. Available at: https://www.gov.uk/government/news/government-announces-financial-support-for-englands-fishing-businesses
UK Marine Management Organization, Guidance, “Fisheries Response Fund - support for fishing and aquaculture businesses”. Available at: https://www.gov.uk/government/publications/fisheries-response-fund-support-for-fishing-and-aquaculture-businesses
On 17 April 2020, the government of the UK announced introducing a support scheme for fishing businesses in response to the Covid-19. For this purpose, the government has allocated GBP 10 million (USD 12.5 million) for England’s fishing and aquaculture businesses. The financing will be in the form of direct cash grants. Under the support scheme, there will be two funds, namely the Fisheries Response Fund (FRF) and Domestic Seafood Supply Fund (DSSS). Both will be administered by the Marine Management Organization (MMO). The government allocated GBP 9 million (USD 11.25 million) for FRF. The FRF aims to support the fixed business costs of catching and aquaculture businesses that have been adversely affected by the downturn of export and domestic markets for fish and shellfish.
On the other hand, with the second fund, DSSS, the government aims to support the sale of fish locally. The government has allocated GBP 1 million (USD 1.25 million) for DSSS.
Concerning the two funds, the Environment Secretary George Eustice stated that: “This £10 million scheme will provide a lifeline for more than 1,000 fishing businesses so they can continue to maintain and operate their boats during this challenging time, which has seen falling prices and lack of demand for fish from the restaurant industry."
The fisheries support scheme will run for three months.