The decision reached on the Multi Annual Guidance Programme (MAGP) for the Irish fleet represents an extremely successful outcome for the Irish negotiators and has effectively reversed a previous Commission proposal which was to reduce our fishing fleet to around 35,000 GRT. The objective for the Irish fleet at the end of this MAGP period, in 1996, is now 51,195 GRT, with some scope for increasing to 54,195 GRT.
The MAGP decision divides the fleet into several categories, based on the species fished. Some of these categories may have to be reduced slightly to bring capacity better into line with available stocks. The policy and other implications of this decision generally for the Irish fleet are currently being considered. The situation is that, with the assistance of EC funding, the fleet will be reoriented to exploit those species of fish where our quotas are not fully utilised and the fleet will be modernised in consultation with the industry and with European financial support.