£10 Million Lifeline Launched for England’s Struggling Fishing Industry
The government has unveiled a new £10 million Fisheries Response Fund to support England’s fishing and aquaculture businesses hit hard by plummeting markets. From Monday 20 April 2020, eligible fishing vessel owners will be contacted directly by email in phases.
Who Benefits and What’s Covered?
The fund targets over 1,000 catching and aquaculture firms battling a sharp drop in export and domestic sales of fish and shellfish. It will help cover fixed business costs, giving these businesses a crucial financial boost during the crisis. Aquaculture firms will receive more details next week.
MMO Boss Pledges Ongoing Support
“We’ve continued to stay closely engaged with the fishing industry and are very much aware of the difficulties many fishing businesses have been facing with the downturn in markets for fish and shellfish,” said Tom McCormack, CEO of the Marine Management Organisation.
“We absolutely acknowledge the importance of our fishing industries and share concerns about these current impacts – it is our problem too. The data we collect has been vital for identifying who needs help most.”
“We’ll keep reviewing and listening to the industry to make sure our support hits the mark.”
Additional Help Still Available
Seafood and fisheries businesses are also urged to apply for existing support schemes like the Business Interruption Loan Scheme and the Coronavirus Jobs Retention Scheme to stay afloat in these tough times.
