Government to launch £360m Fishing and Coastal Growth Fund

British fishing and coastal communities will benefit from £360 million investment to drive growth and boost the sector for the future as the Government launches its Fishing and Coastal Growth Fund.  

The Fund will invest in new technology and equipment to modernise Britain’s fishing fleet, deliver new training and skills to back the next generation of fishers and promote the seafood sector to export our high-quality produce across the world. The government will work with the industry to target investment where it matters most.

The investment comes alongside a new twelve-year fisheries access agreement with the EU securing long-term certainty for British fishing fleets. The deal protects Britain’s fishing access, fishing rights and fishing areas. As a result, there is no change to current access for coastal communities and no reduction in British quota or increase in the quota the EU is allowed to catch.  

The Government has also secured a new SPS Agreement that will slash red tape for UK seafood exporters and businesses, and reopen the EU market to GB shellfish from certain domestic waters. This will make it easier to sell British fish to our largest trading partner – in turn driving growth and removing barriers to trade that have been holding businesses back. 

Under new plans to be set out by the Government later this week, coastal communities will receive a cash boost for new community facilities, better transport links and investment in apprenticeships. Proposals would see offshore wind farms required to invest into coastal communities benefiting for families, businesses and local community groups across the country.

Secretary of State for Environment, Food and Rural Affairs, Steve Reed said    

The agreement reached today protects Britain’s fishing access, fishing rights and fishing areas with no increase in the amount of fish EU vessels can catch in British waters.  

The Government is backing coastal communities by investing £360 million into our fishing industry, securing the future for the next generation of fishers and breathing new life into our coastal communities as part of the Plan For Change.

Government and agencies to work with fishers to reform support to meet safety regulations, supporting the sector to be more prosperous and safe.