ECONOMY
So what’s the big deal
with fishing? According ton the Cabinet Office minister, Michael Gove, the agreement the UK has struck with the EU was the “best possible deal” for the fishing industry as a whole. Well it’s just as well that his living does not depend on his daily catch. Here is the deal as agreed in 1200 pages: · EU boats will continue to fish in UK waters for some years to come · But UK fishing boats will get a greater share of the fish from UK waters. · That shift in the share will be phased in between 2021 and 2026, with most of the quota transferred in 2021. This is known as the “adjustment period”, giving EU fleets time to get used to the new arrangements.
· The EU wanted it to be longer, the UK wanted it to be shorter - it looks like they’ve met somewhere in the middle, with an end date of 30 June 2026. · After that, there’ll be annual negotiations to decide how the catch is shared out between the UK and EU. · The UK would have the right to completely exclude EU boats after 2026 · But the EU could respond with taxes on exports of British fish to the EU or by denying UK boats access to EU waters.
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