Support for the EU fishing sector through the Brexit Adjustment Reserve

02-09-2021

The United Kingdom's withdrawal from the European Union has had a significant impact on several sectors, including EU fisheries, which face a 25 % reduction of their catch value in UK waters. To mitigate the short-term impact on the worst affected countries and sectors, the Commission proposed a €5 billion fund, the Brexit adjustment reserve. In a political agreement on the proposal, now to be formally confirmed by both, the co legislators included Parliament’s proposal to earmark a minimum level of support for the fisheries sector, in particular small-scale coastal fisheries that depend on fishing activities in UK waters.

The United Kingdom's withdrawal from the European Union has had a significant impact on several sectors, including EU fisheries, which face a 25 % reduction of their catch value in UK waters. To mitigate the short-term impact on the worst affected countries and sectors, the Commission proposed a €5 billion fund, the Brexit adjustment reserve. In a political agreement on the proposal, now to be formally confirmed by both, the co legislators included Parliament’s proposal to earmark a minimum level of support for the fisheries sector, in particular small-scale coastal fisheries that depend on fishing activities in UK waters.