The Commission approves the German aid plan related to Britain’s exit from the European Union

The European Commission has approved a German scheme worth €20 million. This scheme aims to support the fishing sector affected by the impact of the UK’s withdrawal from the European Union.

The aim of the scheme is to compensate German-registered fishing vessel owners for loss of income in connection with Brexit-related reductions in fishing quotas. Owners of fishing vessels with a total length of 24 meters or less can be compensated up to a maximum of 15 percent of the estimated loss of income. Owners of fishing vessels more than 24 meters in length are entitled to a maximum of 10 percent of lost income. The regulation is valid until December 31, 2023.

the details

This measure is scheduled to be funded from the Brexit adjustment reserve from the European Union. The Fund has been established to mitigate the economic and social impact of Brexit, and is subject to approval under the funding provisions set out in this instrument.

The Commission adopted the plan on the basis of Article 107(3)(c) of the Treaty on the Functioning of the European Union (TFEU), which allows Member States to promote the development of certain sectors or areas under certain conditions, and on the basis of the Guidelines for Assistance to State Governments in the Fisheries Sector. and aquaculture. The Committee found that the scheme promotes the development of economic activity consistent with the sustainability objectives of the Common Fisheries Policy and does not alter conditions of trade to an extent inconsistent with the common interest. On this basis, the Commission approved the German scheme under EU state aid rules.

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Daily news from October 30

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