Scrapping Funds Approved by Commission –

Scrapping Funds Approved by Commission Fishing Monthly Published:  19 July, 2002

The Commission wishes to scrap more than 8,000 vessels across the EU

THE European Commission has approved its preliminary draft budget of €32 million for the scrapping of EU fishing vessels.

The Commission says that the budget is an important part of its major review of the CFP proposed by the Commission on the 28th of May 2002 and now under consideration in the Council.

This amending letter confirms the intention of the Commission to provide for the financial needs deemed necessary for implementing this ambitious reform aimed at a fishing fleet whose capacity is in line with available resources and safeguarding the future of the sector.

Budget Commissioner Schreyer said: “The overall objective of the fishery reform is to develop sustainable fishing activities, by adjusting fishing capacities to sustainable stocks. To this end a supplementary contribution of €32 million in the year 2003 will help to launch this fundamental change of policy which also aims at protecting natural resources for future generations.”

The Commission said in its statement that the proposal addresses the over-capacity in fisheries by allowing Member States to offer additional money to vessels owners, affected by necessary fishing effort reductions, for scrapping their vessels.

According to the Commission, this reform of the fisheries policy will have important financial consequences since the cost for the Community budget of scrapping some 8,592 vessels has been estimated at €712 million by the Commission.