European Maritime & Fisheries Fund will downsize EU fleets

1 March 2012

Source: Fishnewseu.com

Struan Stevenson has told the European Parliament’s Fisheries Committee that the newly proposed European Maritime & Fisheries Fund (EMFF) must avoid subsidising loss-making businesses.

The Scottish MEP, who is Senior Vice President of the Fisheries Committee, said: “Currently, three quarters of EU stocks are overfished, 30% of the sector is loss-making and 10% of fishermen actually have a negative cash flow. I am totally opposed to any moves towards using public funds for modernising the EU fleet and propping up these unprofitable sectors with subsidy. Some MEPs are also arguing that taxpayers’ money should be used to modernise engines to make them more fuel-efficient and to reduce carbon emissions. I am against this too. We have excess capacity in the EU fleet right now and if a fishing vessel cannot operate profitably it should leave the business. Subsidising modernisation of fishing vessels and engine upgrading will not cut overcapacity but simply encourage over-exploitation of fish stocks...


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