Temporary fishing halt 'could be worth billions within a decade'
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Thread: Temporary fishing halt 'could be worth billions within a decade'

  1. #1
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    Default Temporary fishing halt 'could be worth billions within a decade'

    http://www.bbc.co.uk/news/uk-scotlan...iness-19598680

    A temporary halt to fishing to allow European stocks to recover could generate billions of pounds of profit within a decade, it has been claimed.

    A study published by the New Economics Foundation claims paying fleets not to fish for 10 years would be cost efficient and effective.

    The Scottish Fishermen's Federation said the move would lead to the collapse of the entire infrastructure supporting fishing.

    The SFF said there would be no benefit.

    Earlier this week, the European Parliament voted for a range of sanctions against Iceland and the Faroe Islands over the long-running mackerel dispute.

    The island nations have been criticised for declaring huge catches of the valuable fish in recent years, leading to fears for its sustainability.

    The measures include banning the import of mackerel and other fish from both countries.

    Mackerel is the Scottish fishing industry's most lucrative fishery.

  2. #2
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    http://www.fishupdate.com/news/fulls..._benefits.html

    Costs of restoring fish stocks outweighed by benefits



    RESTORING European fish stocks could generate up to 14 for every 1 invested, according to a report published today.

    The New Economics Foundation (NEF) calculated the costs of restoring fish stocks and found they are far outweighed by the economic benefits in the short and long term. Its “No Catch Investment” report found that:

    *Most overfished stocks could be fully restored within five years

    *Investing 9.16 billion in restoring fish stocks would generate 4.43 billion profit by 2023

    *After stocks are restored the total value of landings would almost triple, generating 14.62 billion in revenue each year

    *The Return on Investment of restoring fish stocks is 148 per cent by 2023

    *By 2052 the returns are 14 for every 1 invested

    By quantifying the economic cost to the fishing industry of a temporary moratorium on fishing stocks, NEF modelled the total cost of maintaining income and vessels over the restoration period. Its report found that to ensure a temporary pause in fishing does not hurt fishermen:
    *10.4 billion of investment would be needed over 9.4 years (9.16 billion in present value terms)
    *These costs should come from private funds. Public funding (European Maritime and Fisheries Fund) should be targeted towards creating a favourable context for this investment to happen

    *Rebuilding fish stocks should remove the need for subsidies to fishers after 2023.

    Aniol Esteban, head of Environmental Economics at NEF, said: “In the context of the current EU debt crisis, these figures speak for themselves. This is a no-catch investment that offers huge financial returns. Continued overfishing is bad for European economies. Restoring fish stocks means more jobs, more income for coastal communities, and less industry reliance on subsidies from taxpayers. It makes perfect economic and environmental sense.”

    Rupert Crilly, Environmental Economics researcher at NEF and lead author of the report, said: “Overfishing is a serious problem, currently affecting the majority of EU stocks. For too long the focus has been on the short term cost of a solution, rather than the economic, environmental and social benefits of proper stock management. In determining the initial cost of rebuilding fish stocks, we see that an end to overfishing in EU waters is affordable as well as desirable. Policy makers must now take action to ensure healthy, sustainable fish stocks for this and future generations.”

    The report concluded: “If we stop fishing overfished stocks from January 2013 and fish stocks are restored to their Maximum Sustainable Yield (MSY) by 2023 at the latest:

    “All investment costs are recovered within 4.6 years, with each year thereafter seeing a net benefit on the investment.

    “For every 1 invested, 1.48 is generated within the first decade (ROI of 148 per cent). Within the first 40 years (2013-2052), the returns are 14 for every 1 invested.

    “After stocks are restored the total value of landings would almost triple, generating 14.62 billion in revenue each year.

    “Over a 40-year period (2013-2052) the current-value profit from investing now is 120.2 billion, with restoration delivering twice the value of catches as without (260 billion compared with 130 billion).

    “Given that the stocks are restored to their full potential (MSY) by mid-2022, the benefits continue to be generated indefinitely as long as fishing does not exceed MSY.”

  3. #3
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    3 words come to mind.. CROCK OF SH*T

  4. #4
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    so waht about all the fishermen then temporarily put on the dole,whos gonna pay for that or doesnt that cost come into the calculation.?another point is the nine years of degradation on the boats and gear,that wont work out cheap either.
    i could go on but my doc says i should stay calm,getting stressed is upsetting the ulcers and the anxiety.

  5. #5

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    and in todays sunday times they say there are only 20 adult cod in the north sea all this nonsense is believed by the public the greens are very clever at playing the long game knowing that we are devidedwe need a united front tofight them but i am afraid there are too many in this game just for money and not for the fishing and a decent honest living so we are easy prey .believe me people really do believe those stories and solutions put forward by the greens .we ignore them at our peril.

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