Confirmation that the Irish fish processing sector is to be directly supported from the Brexit Adjustment Reserve fund for the loss of turnover experienced in 2021 due to the negative impacts of Brexit is welcomed by the IFPEA

The newly announced scheme covers the losses resulting from the following;

(i) reduced supply of fish directly impacted by quota reductions following Brexit and

(ii) increased operational costs for logistics and administration associated with Brexit.

The aid will take the form of direct grants and be set at a maximum of 35% of the first €500,000 of turnover losses and 20 % of the remaining balance of losses. The maximum aid amount per beneficiary will be equal to €300,000. The scheme will run until 31 December 2023.

The scheme was proposed by the IFPEA at the Seafood Taskforce and we were assisted in drafting the scheme by the staff of BIM, and with the support of Minister Charlie Mc Conalogue the scheme is now successfully approved by the EU Commission. The scheme is expected to become operational as soon as logistically possible.

Brendan Byrne CEO of IFPEA stated that today’s announcement is only going to meet a fraction of the losses incurred by the Irish processing industry but it a significant support measure and will have a massive positive impact across the sector. Subsequent years need to be examined closely especially before the BAR deadline lapses. The accumulative effect of the TCA/Brexit deal is now really negatively impacting the sector and as we enter year 4 of the aftermath of the TCA many businesses are really suffering.

A fundamental root and branch assessment of the Irish fishing industry needs to be undertaken, as all the key indices are showing constant decline in landings, and processing activity across the board and this contrasted with other EU Member States shows us to be constant in negative growth.

The IFPEA wish to acknowledge the support of Caroline Bocquel CEO of BIM and all the BIM team, the present Department Officials and Minister Mc Conalogue that made this announcement possible.