Press release
McConalogue secures €177 million to support the seafood sector in 2025
From Department of Agriculture, Food and the Marine
Published on
Last updated on
From Department of Agriculture, Food and the Marine
Published on
Last updated on
Minister for Agriculture, Food and the Marine, Charlie McConalogue TD, is pleased to have secured a significant budget allocation of €177 million for 2025 to support the seafood sector.
Minister McConalogue is confident that this will enable the acceleration of measures being funded under the Seafood Development Programme, continue vital investment in the Fishery Harbour Centres and provide necessary funding to the marine agencies whose activities support the fishing and seafood sector.
“My Departments Seafood Development Programme is co-funded by Ireland and the EU. It is the primary funding package to support the commercial seafood sector, with an overall funding package of €258 million over the lifetime of the programme.
The programme supports the provision of a wide range of financial supports to fisheries, aquaculture and seafood processing enterprises and to enterprises, groups and individuals in coastal communities including supports for capital investment, innovation, professional advisory services and marketing.”
Commenting on Budget 2025 Minister McConalogue said:
“I welcome the €177 million funding allocation in today’s budget. This allocation provides a range of supports for the seafood sector in 2025."
Including:
o The Inshore Fleet Economic Assessment Scheme: participants in this scheme, running into 2025, will receive payments of between €3,500 and €5,000, depending on vessel length.
o The Inshore Fisheries Scheme: This scheme provides targeted supports for the small-scale coastal fishing vessels, which are registered fishing vessels under 12 metres in length who do not use towed gear. Enhanced grant intensity rates of between 80% and 100% are provided to these vessels to support both on-board and on-shore investment, and for participation in conservation measures.
o A related lobster V-notching Scheme continues the good work done under previous V-notching schemes to improve the sustainability of this fishery, which is of significant importance to the inshore fishing fleet in particular.
o The Sustainable Fisheries Scheme provides support to all registered fishing vessels (other than the small scale coastal fishing vessels) for on-board investment. Both the Inshore Fisheries Scheme and the Sustainable Fisheries Scheme support investment by fishing vessels in more selective gear that reduces catches of juvenile and/or over quota species, with the ultimate aim of improving the sustainability of fisheries.
o The Seafood Processing Capital Investment Scheme provides important support for capital investment in the seafood processing sector. It will continue and build on the supports provided to the sector over the course of 2022 and 2023 under the Brexit Processing Capital Support Scheme, funded under the Brexit Adjustment Reserve (BAR), where industry received over €30 million in funding for capital investment in this sector
o The Aquaculture Capital Investment Scheme provides support to aquaculture operators for capital investment to promote environmentally sustainable aquaculture activities and strengthen the competitiveness of aquaculture production
o The Seafood Training Scheme supports the development of skills and knowledge across the Fisheries, Aquaculture and Seafood Processing sectors
o The Young Fishers Scheme provides support to persons under 40, who have 5 years+ experience and/or relevant training, to assist them in purchasing their first vessel. Grant aid up to 40% of the cost of the vessel can be accessed under this scheme, subject to a maximum payment of €250,000. There are some restrictions regarding the age and length of vessels which may be purchased under this scheme.
Concluding, the Minister added;
“I am confident that these schemes will provide very necessary support to the seafood sector and future schemes in 2025 will include schemes to support the Producer Organisations, community-lead local development via the Fisheries Local Action Groups (FLAGs) and a seafood innovation scheme.”