Stop subsidising destructive fishing
20/06/2006
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New European Fisheries Fund will have adverse effect on fisheries competitiveness
With the adoption in June of the European Fisheries Fund, European countries will be allowed to invest million of euros of public funds into the modernisation of the fishing fleets, something which will not help boost competitiveness of the fisheries sector, and even less preserve the natural resources on which the future of the sector depends.
Despite the best efforts of Passport holders, the European Union agreed measures that include contributions for engines, as well as aid to fishermen to purchase new vessels.
Using subsidies to maintain and even increase fishing capacity will worsen the fisheries sector’s profitability and undermine long-term goals of growth and jobs. Such subsidies will stifle innovation and create dependency on public funds, without solving the root problem.
In Europe, current levels of fishing capacity are reported to be 40 per cent above the level needed to ensure a socially, economically and environmentally sustainable fisheries.
Despite this setback WWF will continue to campaign for sustainable fishing in the European Union and beyond.
Thank you for your support.
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