Research published by the new economics foundation (nef) finds that poor management of fish stocks is draining jobs and profits. The report Jobs Lost at Sea estimates the benefits of rebuilding 43 European stocks (out of more than 150) and finds that:
Overfishing means the EU is getting much less out of its fish stocks than if they were restored and sustainably managed. nef has analysed of the difference between the current size of catches compared with their potential (‘maximum sustainable yield’) to highlight the scale of that overfishing has hijacked revenues and employment.
Author of the report, Rupert Crilly, Environmental Economics researcher at nef/OCEAN2012, said:
“Coming together is a beginning, keeping together is progress, working together is success.”
“Overfishing is bad for the economy. With the stroke of a pen, European fisheries ministers are wiping out millions of pounds and thousands of jobs each year by allowing overfishing to continue.
“A third of the UK population’s annual fish consumption could be provided by just the UK’s share of restoring these fish stocks. The industry could employ an extra 46 per cent more people. Over £400 million could be invested in coastal communities every year, 24 times the annual subsidy the UK receives precisely to mitigate the costs of overfishing.
“Restoring fish stocks is within politicians’ power. And in the current economic climate the stakes are higher than ever.”
nef (New Economics Foundation) is an independent think-and-do tank that inspires and demonstrates real economic well-being. We aim to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environment and social issues. We work in partnership and put people and the planet first.
Rupert Crilly: 0207 820 6389 / 07854843505
Aniol Esteban: 0207 820 6323 / 07951648914