Written by 2:00 pm EU Investment

‘Huge investment’ in fisheries firms hailed

FISHERIES funding worth over £5 million has been won by firms in the Banffshire and Buchan Coast constituency.

Karen Adam, SNP MSP for Banffshire and Buchan Coast.
Karen Adam, SNP MSP for Banffshire and Buchan Coast.

The latest round of Marine Fund Scotland cash that has seen the constituency secure over 40 per cent of the total monies allocated – more than £5.4 million.

The Scottish Government fund has distributed more than £13 million overall to fishing businesses and marine organisations across Scotland’s coastal communities with 60 projects benefitting from awards of between £7000 and £1.2 million.

Banffshire and Buchan Coast beneficiaries make up 27 of the 60 successful projects.

Marine Fund Scotland was set up by the Scottish Government following the UK’s exit from the EU and replaces support for the fishing and seafood sector formerly available via the European Maritime and Fisheries Fund.

Welcoming the news, Banffshire and Buchan Coast MSP Karen Adam said: “This huge investment by the Scottish Government in the Banffshire and Buchan Coast industry is very welcome indeed. It is testament to the enterprise and innovation we see in the sector locally, which merits strategic support.

“Fishing is clearly a major part of the area’s heritage and this money helps us nourish the sector in a sustainable manner so it can not only thrive but continue as a major asset to Scotland.

“Brexit has caused huge problems for the seafood sector, both offshore and onshore. Much is yet to be addressed, such as the labour shortage impacting many catching and processing businesses. Rising energy and fuel costs have pushed many to the brink and the UK Government has done little.

“Consequently, I am delighted that funding is being provided right here in the constituency. The Scottish Government has stepped forward to fill the gap left by exiting the EU after the damaging Brexit deal failed to deliver. The UK government promised so much but according to fishing industry leaders has fallen short.

“My hope going forward is that this investment in the fishing industry to future proof and support it benefits the industry itself but also the local communities that rely on it.”

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