Brexit deal: what now for UK fishing industry?
Fishing is a small part of the UK economy, but was a big part of the Brexit negotiations
Control over UK waters was a major part of the leave campaign and a major bone of contention in the recent Brexit trade talks. Now that an agreement has been reached, critics are already voicing their concerns, reports the BBC. So, what does the deal entail?
- Boats from the continent can continue to fish in UK waters for some years to come
- UK vessels will get a greater share of the UK-waters catch quota
- The change in the share will be phased in over five and a half years
- After the initial annual negotiations will determine how quotas are shared
- The UK will have the right to completely exclude EU boats after 2026
- In response, the EU could have the right to impose taxes on British fish exports
While fishing is a tiny fraction of the UK’s economy, it is a major source of employment, and the UK will have to find a balance between maintaining a viable domestic fishing industry, access to waters and profitable exports.