Government launches £24 million investment for fishing industry

The government has announced a £24 million investment for the fishing industry, which is set to “level up” the sector.  

The investment comes as the first stage of the £100 million Seafood Fund which has been developed to increase employment and innovation for coastal communities throughout the UK.  

The investment has also been set up to train the present and new workforce, and will be used to invest in technology at the cutting edge of sustainable fishing innovations.  

According to the government, part of the funding will also be used to increase fish processing capacity after the UK fleet caught more than double its quota in stocks from fish such as herring and mackerel this year.  

READ MORE: NFU calls on government for help to tackle workforce shortages

Following this investment, a Fisheries Industry Science Partnerships scheme has been launched to raise funding for research into sustainability and management of national fish stocks.  

“This major investment will benefit coastal communities up and down the UK,” Environment Secretary George Eustace said.  

“The first investment from our £100 million Seafood Fund will boost science and innovation in the fishing industry and, coupled with our Fisheries Act, help us ensure that we have the most sustainable fleet in the world.” 

Chief Treasury Secretary Steve Barclay added: “We are committed to making all areas of our economy more sustainable and resilient, and this fund will help to achieve that in the fishing industry. 

“This investment will support the fishing industry and level up coastal communities and create jobs as part of our Plan for Jobs, as well as encourage further innovation in science and technology.” 

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