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£23m support fund for the UK’s fishing businesses that export to the EU – what we know so far

On Monday 18 January, Boris Johnson pledged £23m to help the fishing industry affected by Brexit delays – amid protests by fishing firms.

Details on the £23m support fund

Some details were contained in a press release published late yesterday on the support package that will be administered by Marine Management Organisation.

  • The fund will be targeted at fishing export businesses who can evidence a genuine loss in exporting fish and shellfish to the EU
  • Support will be available immediately and paid retrospectively to cover losses incurred since 1 January 2021
  • The scheme will be targeted towards small and medium enterprises and the maximum claim available to individual operators will be £100,000

‘More details will be available on eligibility criteria in the coming days. The Government will be consulting industry across the UK and working with the devolved administrations on these eligibility criteria before they are confirmed.’

We will update this blog when more details are announced.

Other assistance

The press release also contains a reference to other assistance that will be available, including: ‘… further support to businesses in adapting to new export processes. Defra and HMRC will be offering targeted, proactive and hands on support to fisheries exporters to help them successfully meet the new requirements. This includes a new training package and focused workshop sessions.’

And least we forget – the Fish are ‘better and happier’ because they are ‘now British’ after Brexit… (see link).

And another reference to a £100m of funding

First announced at the end of 2020 was a £100m funding pledge made to the UK fishing industry to ‘help modernise fishing fleets, the fish processing industry and rejuvenate a historic and proud industry in the UK.’  This is referenced in the press release above but I cannot see any real detail yet on the funding package that was to be available in the near future according to Michael Gove on 28 December 2020.

FEATURING: Richard Wadman
Richard qualified as a Chartered Accountant with KPMG in 1993. Since 2006 he has worked in Corporate Finance, firstly with the predecessor firm in Truro… read more
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