The tonnage and engine power of the Irish fishing fleet are constrained by mandatory limits set by the EU Fourth Multi-Annual Guidance Programme under the Common Fisheries Policy. The policy objective in relation to the fleet is, therefore, to support and facilitate vessel modernisation and upgrading within those limits, so that the Irish fishing industry can utilise the available fishing opportunities to best effect. For example, the scheme for modernisation of the whitefish fleet which I announced last year will, consistent with overall fleet parameters, lead to the replacement of older vessels by new, safer and more efficient boats.