A support package designed to keep the island’s fishing fleet from going under has been given the go-ahead by Tynwald.

The grant scheme will make more than £370,000 available over a 12-week period, with all existing support schemes continuing as normal

The support is an attempt by government to save vessels and processing factories which, due to the immediate and devastating impacts on markets, are under threat and, like many local businesses, face an uncertain future.

The seafood sector, including processing, is worth an estimated £20m a year in the Isle of Man.

Geoffrey Boot, Minister for the Environment, Food and Agriculture, said: ’We are living in unprecedented times and as such our response must be quick and meaningful.

’This support will help the Manx fishing fleet and many local seafood businesses to weather this difficult storm and prevent lasting damage to the industry for the benefit of the Isle of Man’s people.

’The Isle of Man government’s package of financial support will help the most vulnerable fisheries businesses in the short term, so that they can continue to provide food and employment in the long term.’

Those in receipt of financial assistance under the scheme are not prevented from fishing, although the Government strongly advises them to ensure that there is a suitable market for their catch.

Over the coming weeks the government will continue to work closely with fishing industry representatives, and will keep the support package under regular review as the situation evolves.

The Covid-19 pandemic has led to more problems for the island’s fishing fleet which has faced a difficult 12 months.