Michael Creed (Cork North West, Fine Gael) | Oireachtas source

My Department's European Maritime and Fisheries Fund, EMFF, operational programme is the vehicle for financial supports to the seafood sector up to 2021. The programme delivers a wide range of supports for aquaculture, fisheries and seafood processing through a suite of 17 schemes. I have made in excess of €50 million available to the seafood sector in 2018 through a range of EMFF schemes. In doing so, I secured a very significant commitment from the Exchequer to this programme. This means that anything I can do to assist the seafood sector must be through the EMFF programme.

The EMFF Regulation 508/2014 provides for a special compensation scheme for fishermen experiencing significant economic losses arising from severe storms, etc. Article 35 foresees the establishment by fishermen of a Mutual Fund for Adverse Climatic Events and Environmental Incidents. This fund would act as a form of mutual insurance for otherwise uninsurable losses by paying compensation to affiliated fishermen for losses that exceed 30% of the fisherman's annual turnover arising from severe storms and other adverse climatic events, for losses arising from environmental incidents and for the costs of rescue at sea for fishermen or fishing vessels.

The fund must be established and managed by fishermen and be funded through the subscriptions of affiliated fishermen. The compensation would only be available to fishermen affiliated to the fund. Support to the fund from the EMFF programme would be in the form of a contribution to the costs of compensation paid out by the fund. Depending on the type of vessels or fishermen experiencing losses, EMFF assistance may be as high as 80%.

To date, no fishing representatives have proposed to me that they wish to take on responsibility for the establishment of a mutual fund. I cannot lawfully establish the fund on behalf of the sector. When appropriate representatives of the sector are in a position to establish the fund, my Department and Bord Iascaigh Mhara, BIM, stand ready to assist and advise fishermen and their representatives in any way possible. However, the EMFF does not permit a financial contribution towards the costs of establishment or management of the fund. In order for such a fund to be viable, it is likely to be necessary for the fishing sector to strongly support the initiative through widespread affiliation.

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