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As found by the National Federation of Fishermen’s Organisations (NFFO) “Brexit Balance Sheet” report in September 2021, the UK fishing industry as a whole is now better off by over £50 million a year (£250 million by 2026), than it was when inside the EU. With this figure increasing with each year that passes, as more quotas are returned to the UK fishing fleet, and negotiations on annual quotas are held with the UK personally instead of at the EU level.


In 2021, the National Federation of Fishermen’s Organisations (NFFO) published a report entitled the “Brexit Balance Sheet”, intended to go into the details of the gains and losses for the fishing industry as a whole from leaving the EU.

The report states that, as things stood as regards renegotiations for access in Autumn 2021, the UK fishing fleet would suffer losses of £64.8m a year in the five years to 2026, which it summarises as a circa £300m loss of revenue. These losses would be faced primarily by the non-pelagic fishing fleet.

The report also goes on to say though that, for the pelagic fishing fleet, there are gains of £70-75m a year, which of course are larger than the losses mentioned above.

Further to that, which would equate to a net £50m benefit overall to the UK fishing industry over the five years to 2026, there were also line items in the losses that have since been resolved – the largest of these being a “no deal” scenario with Norway, which was seen to have a £30m per year loss.

Overall with the improvements and resolutions on the specific line items mentioned in the losses on the report, the £64.8m a year gets reduced to just £26.8m – so with the estimated £75m per year in gains, the UK fishing industry is forecasted to be around £50m a year better off – or £250m better off over the course of the five years to 2026.

Reference: https://ukfisheries.net/uploads/documents/BREXIT%20BALANCE%20SHEET%20Report%20for%20NFFO%20by%20Gary%20Taylor.pdf 

Reference: https://twitter.com/TerraOrBust/status/1479950823929131010?t=diTBYQmg3ef78qPnL_OMw&s=19 

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