There could be a renaissance for the Manx herring industry - and taxpayers' money has been earmarked to help.

A new herring quota that follows two years of constructive post-Brexit discussions will provide a 'once-in-a-generation opportunity' for the Manx fishing industry, the government says.

The deal follows talks between the Isle of Man and UK governments and means local fishermen can fish commercially viable quantities of herring for the first time in nearly 25 years.

Fishermen had been free to catch the oily fish, which can be salted, smoked and pickled, for centuries before the EU Common Fisheries Policy introduced quotas in the 1980s.

A century earlier and at its peak, the Manx herring industry was estimated to directly employ around 3,500 people with a thriving kipper industry in full swing.

However, falling stocks meant Manx fishermen’s focus turned to scallops and queenies and the quota allocated by the UK fell so far that the fishery was not commercially viable.

By the time the herring numbers recovered to today’s sustainable levels, quotas had become consolidated outside the Isle of Man under UK quota allocation rules.

However, since Brexit the UK has gained a greater share of Irish Sea herring quotas and the Secretary of State for Environment, Food and Rural Affairs, Thérèse Coffey MP, recently determined how this should be shared among British vessels. It means Manx fishermen can once again diversify, signalling the end of their reliance on shellfish.

Manx fishermen can initially land up to 100 tonnes of herring this year. The island has also been given a 100-tonne quota for the small valuable lobsters, known as langoustines, from 2024.

Clare Barber MHK, Minister for Environment, Food and Agriculture, said: 'These quotas are a major boost for the Manx fishing industry and a once-in-a-generation opportunity. The Manx herring quota could quadruple over three years – bringing a herring industry worth hundreds of thousands of pounds and a langoustine quota potentially worth far more.

The Department of the Environment, Food and Agriculture has made an additional £150,000 available to fishing businesses wishing to diversify and those interested should email [email protected].

David Beard, chief executive of the Manx Fish Producers' Organisation, said: 'It is excellent news and tribute to the hard work undertaken. For many years the Manx fleet has relied solely on king and queen scallops for their income, but these are seasonal fisheries and there are periods when neither is fishable. The new quota will allow a number of Manx boats to diversify into the new fisheries which will be managed sustainably.'

The Manx herring season will run from July to the end of the year.