The government designed the £100 million plan before the trade deal launch, this was to calm the waters with the fishing industry and to show commitment to it’s rebuild.
The plan is said to be concentrating around helping fishers adapt their fleets to catching species that were once restricted to Britain’s fishers.
The deal is also going to try and help expand the fish processing industry, so extra capacity is available for a future increase in catch.
A top Government source said in the Times: “We took the view that the fishing fleet needed to be rebuilt to take advantage of the new access.
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“We needed to invest a lot more into it if we were actually going to be able to catch the fish that we will be entitled to.
“Rishi said, ‘Yes, we can do that. The Treasury can find the money to help.'”
To ease the worry that this money isn’t just going to be given to bigger fishing companies. Smaller fishing businesses will be getting dividends from the funds.
John redwood has said that he wants the £100 million investment and more to go into the right projects to better the fishing industry.
