The European Commission has approved, under EU state aid rules, a €20 million German scheme to support the fishery sector affected by the effects of the withdrawal of the UK from the EU.
The aim of the scheme is to compensate owners of German-registered fishing vessels for income losses related to the Brexit induced fish quota reductions. The owners of fishing vessels with an overall length of 24 metres or less can be compensated for a maximum of 15% of the estimated revenue foregone, while owners of fishing vessels with an overall length of over 24 metres are entitled to maximum 10% of it. The scheme will run until 31 December 2023.
The measure is planned to be funded under the Brexit Adjustment Reserve, established to mitigate the economic and social impact of Brexit, subject to approval under the specific provisions governing funding from that instrument.
The Commission assessed the scheme under Article 107(3)(c) of the Treaty on the Functioning of the European Union, which allows member states to support the development of certain economic activities or regions under certain conditions, and under the Guidelines for State aid in the fishery and aquaculture sector. The Commission found that the scheme facilitates the development of the economic activity in line with the Common Fisheries Policy sustainability objectives and does not adversely affect trading conditions to an extent contrary to the common interest. On this basis, the Commission approved the German scheme under EU State aid rules.
The non-confidential version of the decision will be made available under the case number SA.108790 in the state aid register on the Commission’s competition website once any confidentiality issues have been resolved.
Share this article: