A £300,000 scheme is being established to support Jersey’s fishing and associated industries manage rising costs while encouraging businesses to become more environmentally friendly and efficient.
Under the Marine Sector Support Scheme, financial support will be made available to help cover increasing running costs such as fuel and staffing, and increased safety requirements, as well as longer-term business investment. However, the number of credits allocated to each eligible business will be linked to their environmental and social impacts.
The Marine Sector Support Scheme formed part of the 2022 Economic Framework for the Marine Environment and the Government is engaging with industry stakeholders to design a scheme that meets the needs and pressures of the fishing sector.
The Minister for Economic Development, Tourism, Sport and Culture, Deputy Kirsten Morel said: “This will be the first scheme of its type for our fishing sector, and will build on our experience providing support to the rural economy. It’s a real opportunity to ensure we maintain and develop a sector that is an important part of Jersey’s heritage.
“In the short term, we are working closely with all stakeholders to design a scheme that can deliver support as swiftly as possible so that businesses can meet the many significant economic challenges that they currently face. Neighbouring jurisdictions already provide similar support to their marine sectors, and this will enable Jersey to remain competitive by delivering appropriate support to our sector.
“In the longer term we want to tailor the scheme so that from 2024 and beyond it helps us to deliver an outcome which is environmentally, economically, and socially sustainable. Over the next few months there will be a consultation to enable the scheme to be tailored to the specific needs of the industry.”