Plans to extend financial support for fishing industry

Government is planning to provide extra financial support for the Island's fishing industry.

Officials are proposing to inject £250,000 into the sector to extend the Coronavirus Fisheries Support Scheme by nine weeks for fishing vessel owners and 12 weeks for seafood businesses and broker traders.

Government launched the scheme in April to help businesses and fishing vessel owners that lost trade due to the global health emergency.

It's estimated the total value of first sale fish has halved since March and that Queen Scallop prices have plummeted by 40 per cent.

Since the start of the pandemic the scheme has awarded nearly £640,000 in grants.

Environment, Food & Agriculture Minister, Geoffrey Boot MHK says: "Local seafood markets, that are predominantly export based, remain significantly depressed and this much needed support is vital to protect the long-term viability of the Island’s fishing industry.

"The seafood sector, including processing, is worth an estimated £20m a year in the Isle of Man, so we must do all we can to help it weather this storm."

The changes to the scheme are now subject to approval from Tynwald - anyone wishing to apply first time to it can contact the DEFA Fisheries team by e-mailing fisheries@gov.im or calling 685 857.