The move means Irish fishers will be compensated to cease their commercial fishing activities by scrapping their boats. The measure is planned to be partially financed under the Brexit Adjustment Reserve, established to mitigate the economic and social impact of Brexit.
Compensation will be given to Irish-registered vessel owners in the form of a direct grant via the scheme which will run until December 31, 2023.
Sinn Féin spokesperson on Fisheries and the Marine, Pádraig Mac Lochlainn said: “The intentional and managed collapse of our fishing industry is truly shocking for an island nation that should be maximising the immense and precious resource for our people from the seas around us.
“Every single day our fishermen have to sit back and watch the hoovering up of massive volumes of fish from our own waters and then transported back to various European fishing ports.
“We are paying the political and practical price of many years of weak representation at the negotiating table in the EU.”
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