asked the Minister for Fisheries, Forestry and Tourism the amount of additional aid which was paid to enable fishermen to meet loan repayments in 1985; and if he will make a statement on the matter.
Ceisteanna — Questions. Oral Answers. - Aid to Fishermen.
14.
The main elements of the aid package which came into operation on 1 July 1985 were — (a) Capitalisation of arrears; (b) Extension of repayment period; (c) Transfer from straight line to annuity system of loan repayment; (d) Increased level of interest subsidy.
The elements at (a), (b) and (c) above in relation to the restructuring of accounts meant that in some cases a considerable reduction in the annual repayments by fishermen but it is not possible to put a cash value on this aid. The improved interest subsidy provided for a minimum net interest rate of 9 per cent and was estimated to cost £300,000 in a full year. Because, however, of the fall in interest rates in 1985 the estimated additional cost for the six months in which the revised rates applied was of the order of £100,000.
The package also included the total remission of the excise duty on fuel oil for fishing vessels at an estimated cost of £0.5 million and provided for an additional sum of £480,000 for marketing and exploratory fishing with a view to improving fishermen's incomes.
Would the Minister accept that, while any aid to fishermen is accepted gratefully by them, this was not direct aid as such, that this aid was taken from other grants-in-aid which should have gone to BIM for other purposes? Would he accept also that this grant aid is available only to those who obtain grants from BIM and that many people in the fishing industry have secured grants from other financial institutions and through other channels? When he gets an opportunity to study this, will he consider giving an opportunity to those people to obtain some relief from the various heavy overheads which they have?
I am glad the Deputy accepts that the aids which were in the package were of benefit to many fishermen. If he tells me that there are others who could benefit from a similar package we will look at that situation.
Could the Minister give any indication of the number who benefited from it? As we all know, it was mainly a readjustment of existing finances and the amount spent was very small.
No, I have not got that information.