I am conscious of the significant increases in energy prices for the food production and processing sectors including those within the seafood sector. In July, I met with representative groups from the industry and discussed the impacts of the high fuel and energy prices on the profitability of fishing and seafood processing. The challenges facing the industry are concurrent with the impacts of the Brexit Trade & Cooperation Agreement. In this context, I have been active over the last number of months in implementing support schemes for the wider seafood sector and coastal communities, in line with the recommendations of the “Report of the Seafood Task Force - Navigating Change.”
Included in the schemes launched to date is the €45 million Brexit Processing Capital Support Scheme. This scheme offers grants of up to 40% of the cost of renewable energy generation investments and energy efficiency investments. Similarly, the €25 million Blue Economy Enterprise Development Scheme offers support for a range of entrepreneurial activities including seafood related activities. A key component of the scheme is support for investment in renewable energy. These supports not only provide investment in seafood enterprises, but also ensure they can remain competitive in the long term and be less exposed to issues within their operating environments.
I have worked very closely with industry to develop short and longer term supports to assist the wider seafood industry cope with the consequences of Brexit and the circumstances that have affected the industry since then. Since the publication of the Task Force Report, €225m in supports and developmental strategies have been launched. These are more generous and comprehensive that those put in place elsewhere and will enable our seafood sector and coastal communities to overcome the significant challenges it faces.