Dutch fishermen will receive €200 million from the Brexit Adjustment Reserve Fund dutch beam trawker activity

Dutch fishermen will receive €200 million from the Brexit Adjustment Reserve Fund

Dutch fishermen are set to receive €200 million in compensation from the Brexit Adjustment Reserve Fund according to reports.

The news was made last week when the Netherlands Enterprise Agency announced €500 million in Brexit supports for the business community in the Netherlands. It is still unclear how the funds will be distributed amongst the fishing industry will get but the amount has now been fixed.

The vast majority of the money, which will be made available through the BAR, will be reserved for a restructuring scheme. The amount is thought to be around €155m. Details of the scheme has not been disclosed which made Nederlandse Vissersbond/PO Delta Zuid contact the Ministry of Agriculture, Nature and Food Quality for information, but the Ministry indicated that this can only be stated after approval by the European Commission and when the remediation scheme is published. In short, the restructuring scheme for the fishing fleet is imminent, but the extent to which it is financially attractive and sufficient remains unclear. 

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For the fishermen who do not make use of the restructuring scheme, but who have been duped by Brexit, there will be a tie-up scheme and a liquidity scheme, says Visserbond. 

For the tie-up scheme, a subsidy can be applied for the boats to be shut down in the years after Brexit, namely 2021, 2022 and 2023. It should be noted that it now appears that there must be a tie-up period of at least seven consecutive days. with a maximum of 28 days per year (4 weeks per year). With this scheme from the Netherlands Enterprise Agency (RVO), fishermen can adapt to the new situation after Brexit with fewer fishing opportunities. 

€33 million has been reserved for the tie-up scheme. 

The liquidity scheme concerns an allowance for lost income in the first quarter of 2021, immediately after Brexit. It was previously announced that fishermen can only make use of this scheme if there is a loss of at least 30% in turnover in the first quarter of 2021 compared to the first quarter of 2019. The exact conditions for both these schemes will also be announced upon publication.

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Dutch fishermen to receive €200m from Brexit Adjustment Reserve Fund

by editor time to read: 5 min