The Danish Fisheries Association has welcomed the ICES recommendation for increases in catches limits for cod in the North Sea and Skagerrak danish fishermen brexit compensation

Danish Fishermen who applied for a Brexit compensation scheme have received over €106 million. Photo: DFPO

Danish fishermen have now been paid a total of DKK 791 million in Brexit compensation for loss of value of their quotas

The Danish Fisheries Agency has now completed the processing of applications for compensation for loss of quota value. The compensation is paid to active commercial fishermen and commercial fishing companies for their losses caused by the reduction of individually owned fishing quotas as a result of the trade agreement with the UK. The compensation is financed by the EU’s Brexit Adjustment Reserve fund (BAR).

At the end of the application deadline, the Danish Fisheries Agency has received 164 applications. 157 applicants have received compensation for a total of approximately DKK 791 million (€106m/£92m). Seven applicants have had their application rejected because their quota value loss was less than DKK 10,000 (€1350/£1,166), or because they were not active fishermen at the time of application.

Applications have been received for slightly less than the politically determined financial framework of DKK 840.8 million (€112m/£98m). This is due, among other things, to the fact that some potential applicants have instead chosen to dismantle their vessel. Other applicants have chosen not to make use of the opportunity to apply for an increased compensation rate, which would have been conditional on the applicant implementing certain green initiatives in the company (green top-up).

The funds paid compensate the fishermen for the permanent loss of value that the reduction of their individually owned quotas has brought about. The aid is intended to reduce the negative consequences of Brexit and enables the fishermen to adapt to the new situation of reduced quotas after Brexit.

The scheme is state aid approved by the EU Commission and financed by EU funds from the EU’s BAR fund.

Source: Press Release

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